BOARD AGE HETEROGENEITY AND CASH FLOW PERFORMANCE OF DEPOSIT MONEY BANKS IN NIGERIA.

Abstract

The objective of this study was to examine the effect of board age heterogeneity on cash flow performance of Deposit Money Banks (DMBs) in Nigeria. The study specifically examined the effect of board age heterogeneity on operating, investing and financing cash flow performance. The study adopted the ex-post facto research design; as the goal was not to manipulate any variable but rather to establish effect and mediation. The population comprised listed DMBs and the sample restricted to a purposive sample of six (6) banks whose annual reports were accessible for the period of 2005-2021 which was the time scope of this study. The data were analysed using techniques such as multiple regression model. The results showed that board age heterogeneity has no statistically significant effect on operating and financing cash flow performance. However, the study found a statistically significant effect on investing cash flow performance. Based on these findings, the study recommended that age heterogeneity should be encouraged on the boards of DMBs as it will help in improving the investing cash flow performances of the DMBs.