Abstract
The study assessed the association between corporate governance and value relevance of financial statement of Nigerian listed consumer goods firms. Historical data were generated from the financial statements of the 10 sampled firms over a period of 10 years (2010- 2019). Random effects least squares technique was the estimation technique adopted. Corporate governance was measured with board composition, board due diligence, audit committee independence, board size and firm size, while market value of share was the surrogate for value relevance. The results of the study showed that board due diligence; audit committee independence; board size were relevant to market value of shares of sampled firms while board composition was not relevant. The study concluded that frequencies of meeting, audit committee independence and board size influenced market value of share. Hence, the study suggested that shareholders and regulatory bodies should incorporate identified relevant mechanisms of corporate governance.
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More From: Izvestiya Journal of the University of Economics – Varna
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