The corporate collapses and failures experienced in the banking industry amid the organizational performance have been a major concern. The study aimed at ascertaining the performances of banks and determining the effect of board size, board composition and organizational performance of selected banks in Nigeria. The methodology adopted was combination of both descriptive design and ex-post facto research. A sample of 6 deposit money banks was purposively selected for a period of 6 years. The data were obtained from the annual reports of the selected deposit money banks. Both descriptive statistics and ratio analysis were used to analyze collated data. Hypotheses were tested by multiple regression and Pearson product moment correlation methods. The finding of the study revealed that there is a positive relationship between Board Composition with performance of selected Banks, while Board Size showed negative significant relationship with performance of selected Banks respectively. The study concluded with recommendations that Corporate Governance Mechanism and Code of Best practices contributed a good deal to the performance of Banks – that the managers of Selected Banks should adopt Corporate Governance principle and best practices as integral parts of managing banks for both effective and efficient service delivering, thus striking a balance between organization’s objective and the stakeholder’s interest.
Citation: Isidore Godwin Usendok; Aaron Akpan; Akpanim N. Ekpe (2022) Effect of Board Size and Board Composition on Organizational Performance of Selected Banks in Nigeria, International Journal of Business and Management Review, Vol.10, No.5, pp.1-25
Keywords: Board Composition, Board size, corporate governance and financial performance
