Open AccessDo Board Characteristics Affect Financial Reporting Timeliness? An Empirical Analysis
Author(s) -
Osariemen Asiriuwa,
Semiu Babatunde Adeyemi,
Uwalomwa Uwuigbe,
Uwalomwa Uwuigbe,
Emmanuel Ozordi,
Olayinka Erin,
Osereme Amiolemen Omoike
Publication year - 2021
Publication title -
international journal of financial research
Language(s) - English
Resource type - Journals
eISSN - 1923-4031
pISSN - 1923-4023
DOI - 10.5430/ijfr.v12n4p191
Subject(s) - business , accounting , corporate governance , due diligence , finance , independence (probability theory) , on board , financial ratio , statistics , mathematics , engineering , aerospace engineering
This research explores the effect of board characteristics on the timeliness of financial reporting from 2012-2018 for 50 listed financial firms. This research, comprising a survey of 50 companies operating in Nigeria's financial sector, gained insights from the agency theory to investigate the impact of board characteristics on the timeliness of financial reporting. Board characteristics were measured using variables such as board size, board independence, board financial expertise, board diligence and CEO gender. We analysed the data using the logistics regression method. Empirically, the results showed that there is a positive association between the financial experience of the board and the timeliness of financial reporting. The size of the board and the independence of the board indicate a negative relationship to the financial reporting timeliness. While, board diligence revealed a negative and insignificant association with the timeliness of financial reporting. Overall, this indicates that Nigerian financial firms' board characteristics have a bigger effect on the timeliness of financial statements. This study contributes to the literature in emerging economies in the field of corporate governance and financial reporting.