Empirical assessment of female directors representation in the Nigerian listed companies

Abstract

This study empirically assessed female directorship representation in the Nigerian listed companies. The population of the study consists of all the quoted non- financial firms as at 31st December, 2016. A sample of eighty five (85) quoted firms was selected for the period 2012 to 2016. The data analysis was carried out through descriptive method. The findings indicate that from the entire sampled firms in the non- financial firms in the reference period, 27 companies do not have female director on the corporate board. 18 of the firms had female directors marginally represented on the board. 32 of the companies had female directors fairly represented on the corporate board. While 2 of the firms had female directors averagely represented, only 1 of the sampled firms had women adequately represented on the corporate board. 2 industries had no female directors on firm corporate board. 5 industries had female directors marginally represented on the corporate board. 3 industries had female directors fairly represented on firm corporate board while no industry had neither female director averagely nor adequately represented on the firm corporate board. The study recommends that the Federal government of Nigeria should urgently legislate for adequate representation of certain quota of female directors on the board of listed firms. It should also ensure a mandatory disclosure of the compliance through enforcement by concerned regulators.