Firms- Related Attributes and Timely Reporting: Evidence of Listed Family- Owned Firms in Nigeria

Despite the regulatory deadline set by the Nigerian Exchange Group (NGX) for issuance of financial reports for listed companies, untimely presentation of financial reports still exists, leading to lopsided capital market and great concern for the market participants and other stakeholders. The study therefore seeks to examined the effect of firms related attributes on timely financial reporting. The study employed longitudinal research design on a population of 39 listed family-owned firms on the NGX as at 31st December 2022 over a period of 11 years from 2012- 2022. Secondary data were collected from the published annual reports of 17 purposively selected listed family-owned firms. Data collected were analysed using descriptive statistics, Panel Corrected Standard Error. Therefore, the study revealed negative effect on timely financial reporting, except for leverage. Profitability, audit fee and firm size revealed statistically insignificant effect, while leverage presented statistically significant result. The study concluded that leverage contribute significantly to delay in financial reporting among the firms examined. It is therefore recommended that firms should place leverage on a reasonable benchmark, at which timely financial reporting will not be affected within the listed family-owned firms. Listed family-owned firms should ensure prompt issuance of financial reports in the interest of the stakeholders and efficient capital market.