Hassan, Ibrahim2023-12-102023-12-102009-10-06Abor, J. (2007), Corporate Governance and Financing Decisions of Ghanaian Listed Firms, Corporate Governance: International Journal of Business in Society, 7. Anderson R., S. Mansi and D. Reeb (2004), Board Characteristics, Accounting Report Integrity and the Cost of Debt, Journal of Accounting and Economics, 37, 315-342. Berger, P. G., E. Ofek and D.L. Yermack (1997), Managerial Entrenchment and Capital Structure Decisions, Journal of Finance, 52(4), 1411-1438. Berle Jr., A. and G. Means (1932), The Modern Corporation and Private Property. Macmillan, New York. Caramanoiis-cotelli, B. (1995), “External and Internal Corporate Control Mechanisms and the Role of the Board of Directors: A Review of. Literature”, Working paper No. 9606, Institute of Banking and Financial Management Fama, E. and M. Jensen (1983), Separation of Ownership and Control, Journal of Law and Economics, 26(2), 301-325.https://keffi.nsuk.edu.ng/handle/20.500.14448/901This paper explores the relationship between corporate governance and capital structure of quoted cement firms in Nigeria for the period 2004 to 2007. Four quoted Cement firms on Nigeria Stock Exchange were examined using multivariate regression analysis techniques. Measure of corporate governance employed were board size, board composition, composition of audit committee. Effect of shareholding on leverage was examined using managerial shareholding and institution shareholding. Similarly the leverage was measured as ratio of total debts to shareholders’ fund. Results reveal that managerial shareholding and institutional shareholding as well as composition of audit committees have positive correlation with leverage position of selected firms, whereas board size is negatively correlated with debt to equity ratio. However, leverage behaviour is not found significantly influenced by composition of audit committee and composition of board member. It is recommended that compliance with code of corporate governance among cement firms in Nigeria need to be enforced. The managerial shareholding need to be encouraged as this will make them run the business with utmost good faith.enCorporate, Governance, Leverage, Capital, StructureArticle