Firm Characteristics and Share Price of Listed Healthcare Companies in Nigeria
The study examined firm characteristics and share price to ascertain if certain notable features of firms could cause variation in the value of listed healthcare companies in Nigeria within the period of 2006 to 2019. Data were obtained from the annual reports of selected companies. The analysis was carried out using descriptive analysis (Mean, Median, Standard deviation), as well as inferential statistics (Correlation and Regression analysis). Result revealed that board Composition has significant relationship with firm value. The implication here is that the composition of the board has a significant influence on the value of the firm. There is clear indication that good board composition will enhance the value of the firms. For board diversity, it was found to have a significant positive effect on average share price of listed healthcare firm companies. The imply that firms with good combination of females and males tend to enjoy an increase in market price. The study therefore recommended that healthcare companies should constitute their board in such a way as to reflect a sizeable number of non-executives with a mix of female and male directors. Keywords: Board Quality, Board Composition, Board Diversity, Firm Value, Share Price JEL Classification codes: O16, M40, M41