Corporate Governance, Board of Director, Board Independent, Board Diversity, Firm Performance, Professional Knowledge and Experience

This paper reviews a recent literature with regard to the relationship between board composition and performance of listed firms in Nigeria. To achieve the objective of the study, reviews of some prior empirical research on corporate governance, performance, and the theories were examined. The recent studies reveal that inconsistent findings were still found in the previous studies on the characteristics of corporate governance literature. Therefore, the need to measure the link between the board independent and performance will for a long time continue to remain an interesting study area. This paper, therefore, recommends that the researchers should try and avoid the mistake of the prior studies by over-reliance on the direct relationship between board independent and firm performance. The study also recommends the use of board professional knowledge and experience as a moderator and board diversity as a mediator to determine the nexus between the board composition and firm performance and to avoid the use of only one single theory of corporate governance mechanisms and firm performance. The use of primary survey based methodology on the causal effect of the relationship between board composition and the performance would be a key advantage in the area of CG.