Effect of Corporate Governance on Borrowing Cost of Quoted Brewery Firms in Nigeria (2010-2015)

The main objective of this study is to ascertain the determinants of audit quality in Nigeria. The specific objectives are to ascertain the effect or otherwise of Board size, ownership concentration and Board independence on borrowing cost of brewery firms listed on the floor of Nigeria Stock Exchange from 2010-2015. Ex-post fact research design was used for this study. Secondary data were sourced from the publications of Nigeria stock exchange. Inferential statistics of the hypotheses were carried out with the aid of E-view 9.0 statistical software using co-efficient of correlation and ordinary least square (OLS) regression. In a bid to determining the validity of the data used Granger causality test was used. Findings of this study shows that Board size, ownership concentration and Board independence have a positive and statistically significant effect on borrowing cost at 5% significance level. It is recommended among others that there should be an increase in board independence since it significantly decreases a firm's cost of capital and increases firm's valuation