Corporate Governance Attributes and Directors’ Remuneration of Quoted Firms in the Nigerian Exchange Group

Abstract

This study is aimed  examining  the extent to which  board  attributes of  quoted  firms in the Nigerian Exchange group  influences directors’ remuneration  The study adopted  an ex-post facto research design and secondary  data  spanning from 2010 to 2021 were  gleaned  from the published financial statements and accounts  of 13 Listed Commercial banks in Nigeria The data collected were analyzed using descriptive and inferential statistical tools. The findings of the study revealed that board size and firms size have significant influence  on directors’ remuneration of listed banks in Nigeria, while board independence, board gender diversity and directors’ ownership structure recorded insignificant relationship with directors’ remuneration of listed banks in Nigeria. The study therefore recommends that given the significance impact of board size and firm size on directors’ remuneration, banks should consider tailoring their board composition to strike a balance between diversity of expertise and effective decision-making. Board should avoid excessive size that might lead to inefficiencies and instead focus on ensuring inclusion of relevance skills –set  necessary for effective governance.

Keywords: Corporate Governance Attributes, Board Size, Firms Size, Board Independence, Board Gender Diversity, Directors’ Ownership Structure, Directors’ Remuneration.