Vol. 2 No. 1 (2026): MAAUN International Journal of Postgraduate studies (MIJPS)
Articles

Board Independence, Ownership Structure and Firm Profitability: Evidence from Nigeria Exchange Group.

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  • Ibrahim Balarabe,
  • Adamu, M. U,
  • Sa’idu, M. M
DOI: https://doi.org/10.59479/jiaheri.v2i1.141
Categories

Published 03/28/2026

Keywords

  • Board independence,,
  • Ownership structure,,
  • Profitability,,
  • Corporate governance,,
  • Nonfinancial Firms,,
  • Nigeria.
    • ...More
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How to Cite

Balarabe, I., U, A. M., & M, S. M. (2026). Board Independence, Ownership Structure and Firm Profitability: Evidence from Nigeria Exchange Group. Journal of Institute of Africa Higher Education Research and Innovation (IAHERI), 2(1), 23–33. https://doi.org/10.59479/jiaheri.v2i1.141

Abstract

This study empirically investigated the relationship between board independence, ownership structure and firm profitability of quoted nonfinancial firms in Nigeria. The study is vital as it portrays the extent to which corporate governance structure relates to firm profitability. Therefore, two hypotheses were formulated to guide the investigation, and the statistical test of parameter estimates was conducted using panel data multiple regression model with Ex Post Facto design adopted and data for the study were obtained from the financial statements of nonfinancial firms listed on Nigerian Exchange Group (NGX) with data spanning from 2014-2023. The findings of the study generally indicate that board independence have a significant and positive influence on profitability while board ownership have negative and statistically significant impact on profitability on both models. Thus, the study concludes that board independence ensures profitability and ownership structure have no significant on profitability. The study however suggests the need for ownership structure to be increased for better performance.

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