IFRS 7/9 - determinants of financial instrument disclosure in emerging markets and the moderating effect of foreign ownership: evidence from Nigeria

Obiajulu Chibuzo Okeke, Mary-Fidelis Chidoziem Abiahu and Grace O. Ogundajo

International Journal of Accounting, Auditing and Performance Evaluation, 2025, vol. 21, issue 3/4, 398-421

Abstract: The study sought to investigate the firm-specific characteristics that influence the disclosure of financial instrument information, and the influence of foreign ownership. Purposive sampling was used to obtain data from 19 out of 61 listed manufacturing companies in Nigeria for the period between 2012-2021. The findings revealed that audit quality, return on assets, foreign ownership and firm growth revealed a positive effect on financial instrument information disclosure, whereas firm size revealed a negative effect on financial instrument information disclosure. Only foreign ownership is significant. Furthermore, the empirical evidence reveals that foreign ownership moderates the relationship between firm growth and financial instrument information disclosure. Based on the empirical findings, we recommend that managers of manufacturing firms in Nigeria endeavour to employ the services of the big four audit firms, improve their profit and have more foreign investors to increase the disclosure of financial instrument information.

Keywords: financial instrument; firm characteristics; IFRS 7; IFRS 9; manufacturing companies; Nigeria. (search for similar items in EconPapers)
Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:ids:ijaape:v:21:y:2025:i:3/4:p:398-421

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