Board Digital Expertise and Innovation Performance of Listed Firms in Nigeria

This study investigates the relationship between board digital expertise and innovation performance among listed firms in Nigeria from 2010 to 2024. Drawing on resource dependence theory and upper echelons theory, the study examines how the digital competencies residing within corporate boards shape firms' capacity to generate and sustain innovation outputs. Using an ex-post-facto research design and unbalanced panel data from 151 Nigerian Exchange Group (NGX)-listed firms over fifteen years, the study employs fixed effects, random effects, and generalized method of moments (GMM) panel regression techniques. The findings reveal that board digital expertise exerts a significant, positive influence on innovation performance. Control variables, including firm size, board size, research and development (R&D) expenditure, and financial performance, also demonstrate meaningful associations with innovation outcomes. Industry type, firm age, CEO characteristics, and ownership structure produce heterogeneous effects across the sample. The findings are robust to endogeneity corrections and alternative model specifications. This study contributes to the nascent but rapidly growing literature at the intersection of corporate governance, digital transformation, and innovation management in African emerging markets. Practical implications for boards, regulators, and policymakers in Nigeria and comparable emerging economies are discussed, alongside recommendations for board composition reform.