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Board of Directors Characteristics and Financial Reporting Quality of Selected Listed Manufacturing Firms in Nigeria

[journal article]

Oladapo, Olusola Gabriel
Olasunkanmi, Yusuff Taofiq
Omoruyi, Ugowe Samson
Adedokun, Emmanuel Abiodun
Ohaeri, Uchechukwu Emmanuel
Ugwu, Brendan Chukwuebuka
Ogieriakhi, Abies Princess
Akande, Abimbola Oreoluwa

Abstract

The study examines the influence of board characteristics on the financial reporting quality (FRQ) of selected listed manufacturing firms in Nigeria, addressing a critical area of corporate governance research. Using a quantitative ex-post-facto research design, the study analyses panel data from 20... view more

The study examines the influence of board characteristics on the financial reporting quality (FRQ) of selected listed manufacturing firms in Nigeria, addressing a critical area of corporate governance research. Using a quantitative ex-post-facto research design, the study analyses panel data from 20 listed manufacturing firms over 12 years, covering 2010 to 2021.Keyboard characteristics, including board size, independence, financial expertise, and diversity, are evaluated against financial reporting quality, measured using the modified Jones model for discretionary accruals. Diagnostic tests were conducted to ensure the reliability of the results, confirming the absence of multicollinearity (mean VIF = 1.11), heteroscedasticity and the appropriateness of the random-effects model through a Hausman test (p = 0.1534). The findings reveal that board size positively and significantly influences FRQ (r=0.2341), highlighting the role of larger boards in enhancing oversight and governance. Conversely, board independence (r = 0.0126) and board financial expertise ( r = − 0.0273) show no significant relationship with FRQ, challenging the assumption that these characteristics inherently improve financial reporting quality. Board diversity exhibits a weak yet significant positive correlation (r = 0.0877), suggesting that gender diversity contributes to governance but may require complementary mechanisms for greater impact. The study concludes that while some board attributes directly influence FRQ, others require strategic integration into governance practices to achieve meaningful improvements. These findings provide actionable insights for policymakers and corporate leaders seeking to strengthen governance and financial reporting practices in Nigeria.... view less

Keywords
board of directors; Nigeria; governing board

Classification
Management Science

Free Keywords
Board of Directors' Characteristics; Financial Reporting Quality; Board Size; Board Independence; Board Financial Expertise; Board Diversity

Document language
English

Publication Year
2024

Page/Pages
p. 1012-1019

Journal
Path of Science, 10 (2024) 12

ISSN
2413-9009

Status
Published Version; peer reviewed

Licence
Creative Commons - Attribution 4.0


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Home  |  Legal notices  |  Operational concept  |  Privacy policy
© 2007 - 2025 Social Science Open Access Repository (SSOAR).
Based on DSpace, Copyright (c) 2002-2022, DuraSpace. All rights reserved.