Corporate Governance and Operating Performance of Quoted Food and Beverages Firms in Nigeria (2017-2023)

This study investigates the relationship between corporate governance and firm performance in Nigeria's quoted food and beverages firms. Using a sample of 13 firms listed on the Nigerian Exchange Group (NGX), the research employs descriptive statistics, multiple linear regression analysis, and correlation analysis to examine the effect of operating cash flow on corporate governance quality and the relationship between financial performance and corporate governance transparency. The findings reveal significant positive relationships between financial performance variables (ROA, ROE, and Tobin's Q) and corporate governance transparency variables (Disclosure Quality and Transparency Index), indicating that firms with better financial performance tend to have higher transparency and disclosure quality. Additionally, the study shows a significant positive relationship between operating cash flow and corporate governance quality, suggesting that firms with higher operating cash flow tend to have better corporate governance quality. The study contributes to the existing body of knowledge by providing insights into the importance of corporate governance quality and transparency in enhancing firm performance in Nigeria's quoted food and beverages firms. The findings have implications for investors, regulators, and firms seeking to improve their financial performance and sustainability.