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 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.