CORPORATE GOVERNANCE ATTRIBUTES AND FINANCIAL PERFORMANCE: EVIDENCE FROM ELECTRICITY DISTRIBUTION COMPANIES (DISCOS) IN NIGERIA

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Published Jul 14, 2025
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Vol. 10 No. 1 (2025): KASU Journal of Accounting Research and Practice January - June, 2025

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Ibrahim Baba Musa, Dr. Tahir Muhammad Dahiru, Dr. Suleiman Salami
Ahmadu Bello University, Zaria,

Abstract

The unsatisfactory performance and revenue shortfall of Electricity Distribution Companies
(DisCos) in Nigeria have generated a lot of concern among stakeholders. Therefore, the study
examines effect of corporate governance attributes on the financial performance of Electricity
Distribution Companies (DisCos) in Nigeria. The study utilized a sample of eleven (11) electricity
distribution companies covering a 10-year period, starting from 2013 to 2022 with 110
observations using Ordinary Least Square (OLS). Secondary data were extracted from annual
reports of the companies. The regression results showed that board independence has a statistically
significant positive relationship with Return on Equity (ROE), while board size and political
connection have statistically significant negative relationship with ROE. Based on the findings,
the study recommended that the board of DisCos emphasize the skillset and expertise of outside
directors, as this can make significantly contribute to companies’ performance.

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Author Biography

Ibrahim Baba Musa, Dr. Tahir Muhammad Dahiru, Dr. Suleiman Salami, Ahmadu Bello University, Zaria,

Ibrahim Baba Musa1, Dr. Tahir Muhammad Dahiru2, Dr. Suleiman Salami3
1,2,3Department of Accounting, Ahmadu Bello University, Zaria, Nigeria
Corresponding author’s email/Mobile: ibmusa7@gmail.com/+23480351501281