Corporate Governance Attributes, Sustainable Innovations, and Financial Performance of Selected Manufacturing Firms

This study considered how several aspects of corporate governance impact the financial performance of a few manufacturing companies in a developing country leading to sustainable innovations. Nigeria was considered for the study since it is a fast-growing economy and the most populous country in Africa. Tobin's Q methods of analysis and purposive sampling techniques were utilized for analyzing the data gathered from annual reports of companies selected between 2011-2020. Both descriptive statistics and econometric analysis employing panel data techniques were used in the study. Results indicate that board independence and board size had substantial negative impact on Tobin's Q of manufacturing firms in Nigeria. The chapter reveales that audit committees should comprise people with the necessary accounting or finance knowledge and experience to embrace corporate governance procedures since they help interpret business performance in terms of Tobin's Q ratio.