Vicissitudes in Financial Reporting in Nigeria: What Role Does Corporate Governance and Ethics Play?

Adeyemi Adekunle Akeem () and Mieseigha Ebipanipre Gabriel ()
Additional contact information
Adeyemi Adekunle Akeem: Nnamdi Azikiwe University
Mieseigha Ebipanipre Gabriel: Nnamdi Azikiwe University

Acta Universitatis Danubius. OEconomica, 2019, issue 15(3), 90-98

Abstract: This paper examined if corporate governance and ethics play a fundamental role in the vagaries in financial reporting in Nigeria. Expo-facto design and secondary data from annual reports and accounts and Nigerian Stock Exchange Factbook of selected quoted manufacturing firms during 2002-2017 were obtained. Governance measures of board gender diversity (BGD) and board chairman shares ownership (BCSO), as well as ethics was measured by dummy variables. Fixed and random effects regression models were employed to validate the nexus between the dependent (financial reporting) and independent (corporate governance and ethics) variables. Based on the analysis, of data, it was revealed that corporate governance and ethics have a major role in the vicissitudes in financial reporting, especially in the aspect of performance measures of corporate entities. Also, it was found that corporate governance measures of board gender diversity and board chairman shares ownership and ethics jointly and significantly influence financial reporting among quoted manufacturing companies in Nigeria. Hence, it was recommended among others that regulatory bodies of quoted companies in Nigeria should established more governance codes that help in including more women on the board as well as emphasizing board chairman shares ownership so as to promote financial reporting of quoted companies in Nigeria. In addition, SEC should ensure that codes of governance provisions be strictly adhered to by quoted companies as it will promote transparency and accountability in financial reporting.

Keywords: Financial Reporting; Corporate Governance; Ethics; Fixed and Random Effects (search for similar items in EconPapers)
Date: 2019
References: Add references at CitEc
Citations:

Downloads: (external link)
http://journals.univ-danubius.ro/index.php/oeconomica/article/view/5316/4927 (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:dug:actaec:y:2019:i:3:p:90-98

Access Statistics for this article

More articles in Acta Universitatis Danubius. OEconomica from Danubius University of Galati Contact information at EDIRC.
Bibliographic data for series maintained by Daniela Robu ().