Fingers :

Advantages of fingering:

Fingers reduces the resistance of the gate and parasitic capacitance of

drain/source.
Reducing the gate resistance will reduce the noise due to it, which
dominate at higher frequency.
Minimises the LOD effect.
More useful in layout to realise for matching purpose.

LOD effect:
This effect is due to the stress caused by the Shallow trench isolation which
affects the device Vt, Idsat, matching of the device and large error In the
current mirror.
As the distance from the edge of the poly gate to the boundary of diffusion
area (SA, SB, SD)varies, so do the properties of the transistor. Let's say you
have ten transistors on one stretch of diffusion. The transistors at the centre
of the diffusion strip and the transistors at the sides have different properties
e.g. vth may vary by 20mV. This in turn translates to offset and some other
circuit imperfections.
To avoid LOD effect, it is better to have multipliers instead of fingers, as the
stress due to STI will be same for all the devices.

Well proximity effect:

CMOS technologies make use of high energy implants to form deep
retrograde well profiles needed for latch up protection and supression of
lateral punch through. During this implant process, atoms get scattered
laterally and become embedded in the silicon surface in the vicinity of nwell
edge.
This reults in the well surface concentratiob that changes with lateral
distance from the mask edge over the range of 1um or more.

This lateral non uniformity causes the MOSFET Vt and oher electrical
charateristics to vary with the distance of the transistor ito the well edge.
This phenomenon is called well proximity effect.