CORPORATE GOVERNANCE ATTRIBUTES AND SOCIAL SUSTAINABILITY REPORTING

Ofe Iwiyisi Inua and Ashinedu Anita Emeni
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Ofe Iwiyisi Inua: National Open University of Nigeria, Postal: Department of Financial Studies, Faculty of Management Sciences,
Ashinedu Anita Emeni: University of Benin, Postal: Department of Banking & Finance,, Faculty of Management Sciences,, Benin City

International Journal of Contemporary Accounting Issues-IJCAI (formerly International Journal of Accounting & Finance IJAF), 2019, vol. 08, issue 1, 21-37

Abstract: The objective of this study is to examine the relationship between corporate governance and social sustainability reporting in quoted firms in Nigeria. The ex-post facto research design was used forthis study. The data setwas sourcedfrom the annualreports ofselectedquotedcompanies on the Nigerian stock exchange. Out ofa population of176 quoted firms on the NSE as at December31st, 2016, thirty five financial and non financial companies had complete and consistent data that was useful for this study. The balanced panel data regression technique was used in this study. The corporate governance attributes which are the independent variables were CEO tenure, executive compensation, Board gender diversity, Board size and firm size (as control variable). Correlation results showthatthere is a positive association between the dependentvariable ofsocialsustainability reporting and all the independent variables of interest except for the variable of executive compensation. The adjusted R2 of the probit panel random effect regression model is 0.34 which indicates that only 34% ofthe changes in the variable ofsocial sustainability reporting is explained by the changes in the regressor. It was discovered that executive compensation and CEO tenure has no significant relationship with corporate social sustainability reporting. While Board gender diversity and board size had a significant relationship with corporate social responsibility reporting. It was recommended that the representation and participation of women on boards should be sustained and improved to promote social sustainability reporting for the firms and that quoted companies should keep up with the recommended board size in order to maintain a sizeable performance in terms of social sustainability reporting.

Keywords: Keywords: Corporate governance; Social sustainability reporting; Quoted firms; Board gender diversity; Board size (search for similar items in EconPapers)
Date: 2019
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