Conservative Business Strategy as Moderator of Board Independence and Corporate Performance Nexus in Nigerian Financial Companies

Abstract

This paper adds to prior literature by investigating the strength of conservative business strategy in the relationship between board independence and firm performance. The application of an analytical framework that enhances the simultaneous analysis of interrelated dependency contributes to the expansion of the methodological scaffold for analyzing institutional characteristics of emerging markets.

Corporate Governance and Financial Performance in Saudi Arabian Listed Companies: A Integrative Literature Review

“…However, in developing countries, the relationship between board independence and financial performance can be more tenuous. Osazevbaru (2021) observed a range of results across studies, such as South African companies with independent members attracting foreign investors (Muniandy & Hillier, 2015), while Sun, Lan and Ma (2014) discovered a negative effect of board independence on 7,045 Chinese firms' performance; furthermore, Sanda (2011) concluded there is no significant relationship between board independence and Nigerian listed firms.…”