Corporate Governance Structure and Financial Performance of Hotels in Nigeria

ABSTRACT
This study investigated corporate Governance and financial performance of hotels in Nigeria from the period of 2018-2022. The aim of the study is to ascertain the relationship between Corporate Governance and financial performance of hotels in Nigeria. Corporate Governance structure stands as the predictor variable and was proxied by Board Size and Board gender Diversity while the criterion variable (financial performance) was proxied by Return on Asset and Return on Equity. The study was anchored on the resource dependency theory and the managerial hegemony theory as baseline for the research. The ex-post facto research design was employed and this is because the researcher relied on the use of secondary data. The secondary data were gotten from the annual reports of the selected hotels on the Nigerian Exchange Group. The Pearson’s product movement correlation coefficient analysis technique was used to test the hypotheses with the aid of statistical package for social sciences (SPSS) version 25.0. The result revealed that there is significant relationship between corporate governance and financial performance of hotels in Nigeria. Based on the findings, the study recommended that due to the significant relationship between corporate governance and financial performance, that the management of hotels should introduce new strategies to improve the financial performance so that the level of their profit can significantly increase, and that non-executive directors be trained on internal corporate governance. That women participation as board members has significant impact on hotels performance. Therefore, should increase number of women participating in board decision not just to satisfy gender balance but also to enhance financial performance.