This study was carried out to examine the relationship between board multiplicity and cash flow performance of health care firms in Nigeria. In order to determine the relationship between board multiplicity and cash flow performance, board multiplicity was proxy using board gender multiplicity, board nationality multiplicity and board ethnicity multiplicity while cash flow performance on the other hand was proxy by operating cash flow measured as operating cash flow to total assets. The study adopted Ex Post Facto Design and data were collected from the annual reports and accounts of the listed health care firms in Nigeria for the period ended 2016-2020. OLS model was used in the data analysis and the findings of the study indicate that there is a significant and positive relationship between board gender multiplicity, board nationality multiplicity, board ethnicity multiplicity and operating cash flow performance of health care firms in Nigeria at 1%-5% significant level. Thus, the study concludes that board multiplicity ensures cash flow performance in Nigeria. In lieu of this, the study recommended that firms should increase the number of female directors in the board composition and also consider ethnic composition of board of directors which should be integrated into the corporate governance practices as allowing for a more ethnic balance translates into better financial performance. A balanced approach towards the hiring of foreign directors by listed health care firms in Nigeria is also recommended as with this development, cash flow performance would constantly be maintained.
Board Gender Multiplicity, Board Nationality Multiplicity, Board Ethnicity Multiplicity, Cash Flow Performance
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