DETERMINANTS OF CORPORATE GOVERNANCE REPORTING AMONG LISTED NON-FINANCIAL FIRMS IN NIGERIA
One of the major problems encountered by investors in developing economies is the issue of corporate governance disclosure which could lead to potential business failures as investors might lose confidence in a company. This study examines the determinants of corporate governance reporting in among...
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| Main Authors: | , , , |
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| Format: | Article |
| Language: | English |
| Published: |
Kwara State University, Malete Nigeria
2024-10-01
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| Series: | Malete Journal of Accounting and Finance |
| Subjects: | |
| Online Access: | https://majaf.com.ng/index.php/majaf/article/view/154 |
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| Summary: | One of the major problems encountered by investors in developing economies is the issue of
corporate governance disclosure which could lead to potential business failures as investors might
lose confidence in a company. This study examines the determinants of corporate governance
reporting in among listed non-financial firms in Nigeria. Specifically, the study investigates the
extent to which various corporate governance indices (board independence, CEO duality and
gender diversity) influence corporate governance reporting among listed non-financial firms in
Nigeria. The population consists of all the one hundred and fourteen (114) listed non-financial
firms in Nigeria. Panel data were obtained from the annual reports and accounts of the sampled
(23) firms using judgmental sampling technique for the period of 2012 to 2020. An ex-post facto
research design was used and the data were analyzed using binary logistic regression technique.
Findings from the study revealed that board independence and CEO duality showed a positive and
significant impact on corporate governance disclosure of listed non-financial companies in
Nigeria (with p-value of 0.081 and 0.022 respectively) while gender diversity appear statistically
insignificant (with p-value of 0.427). The study concluded that board independence and CEO
duality significantly and positively determines the extent of corporate governance reporting in
Nigerian listed non-financial firms. It is therefore recommended that in making a decision on what
the composition of the board should be, companies should not only focus on the numerical strength
of the board but also look critically at the independence of the board in order to improve their
corporate disclosure.
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| ISSN: | 2735-9603 |