BOARD LEADERSHIP STRUCTURE, BOARD DILIGENCE, AND FIRMS' STRATEGIC CASH FLOW DECISION IN NIGERIAN NON-FINANCE COMPANIES.

There is distinctiveness among empirical studies on the relationship between board leadership structure, board diligence, and firms' cash decisions, particularly in Nigeria. This study focused on how board leadership structure and board diligence affect components of firms' cash decisions (operating, investing and financing cash flows) of quoted non-finance companies in Nigeria. Data were obtained for seventy-four (74) companies for the period 2010-2019. Analyses were based on descriptive statistics and inferential statistics (ordinary least square, dynamic panel data modelling, and Hausman specification test). Overall, the Wald statistics showed that board diligence and board leadership structure insignificantly affect cash decisions. However, board diligence significantly affects financing cash flow decision as a component of cash decisions. Given the findings, it was recommended that firms should discourage the practice of dual leadership structure as it decreases firm's cash flow decision. Also, there is need to moderate board meetings of companies. [ABSTRACT FROM AUTHOR]