The Effect of Audit Committee Attributes on Nigerian Listed Companies’ Firm Performance

Abstract

This research examined the effect of audit committee attributes on the performance of Nigerian-listed firms. A sample of 88 listed firms with 880 observations was utilised from 2012 to 2021. This study analysed data obtained from secondary sources utilizing the Generalized Method of Moments (GMM). The findings discovered a significant positive correlation between audit committee chair, audit committee tenure, audit committee female member, and firm performance of Nigerian listed companies. However, the result indicates that audit committee share ownership does not influence firm performance. These findings provide evidence for Nigerian regulators, investors, and executives to consider when developing corporate policies. Therefore, executives and stakeholders may benefit from the empirical data provided by this study. The study suggests controlling members who possess significant shareholdings in the audit committee. In turn, this may improve the performance of the firm by increasing investors' propensity to safeguard their capital and facilitate more thorough monitoring and overseeing of the financial reporting process.