THE EFFECTIVENESS OF BOARD ENGAGEMENT IN ENHANCING FIRM PERFORMANCE: NIGERIAN PERSPECTIVE

Abstract

Corporate governance is a pervasive and essential aspect of management that transcends company types, whether they are multinational corporations or non-profit organizations. This practice is implemented worldwide, spanning across developed and developing nations. Despite varying interpretations of corporate governance among different companies, a common unifying principle prevails – "The Proper Management of the Company" (Nwokwu, 2018). One crucial aspect of corporate governance revolves around the composition of the board of directors. Research suggests that the size of the board can significantly impact corporate performance. A large board may potentially impede the effective contributions of its members. Conversely, Dharmadasa, Premarthne & Hearth (2014) assert that a small board size can influence firm performance positively. However, from the perspective of resource dependency theory, board members are regarded as vital resources.