Board Attributes and Risk Disclosure of Quoted Industrial Goods Companies Listed in Nigerian Exchange Group

Naburgi Musa Muhammed (), Ojo Lukman Olatunji () and Oyedokun Godwin Emmanuel ()
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Naburgi Musa Muhammed: Department of Accounting, Postal: Faculty of Administration, Nasarawa State University, Keffi, Nigeria, https://www.lcu.edu.ng/index.php/lead-city-journal-of-the-social-sciences
Ojo Lukman Olatunji: Department of Accounting, Postal: Faculty of Administration, Nasarawa State University, Keffi, Nigeria, https://www.lcu.edu.ng/index.php/lead-city-journal-of-the-social-sciences
Oyedokun Godwin Emmanuel: Department of Management and Accounting, Postal: Faculty of Management and Social Sciences, Lead City University, Ibadan, Nigeria, https://www.lcu.edu.ng/index.php/lead-city-journal-of-the-social-sciences

Lead City Journal of the Social Sciences (LCJSS), 2024, vol. 9, issue 1, 40-56

Abstract: This study responds to recent calls for more research on this subject by empirically examining the effect of board attributes on risk disclosure of quoted industrial goods firms listed on the Nigerian Exchange Group. This study adopts an ex post facto research design. The population of the study comprised all the 13 listed industrial goods firms. Data were extracted from the published financial statements of the industrial goods companies, covering a period of ten (10) years from 2013 to 2024. Risk disclosure was measured using dichotomous scale “1” if a company discloses risk in the financial statement, “0” otherwise. The study employs logistic regression as the technique of analysis with the aid of STATA version 16 as a tool for analysis. The results indicate that board independence, board size and board gender diversity all have significant effects on the extent of risk disclosure in industrial goods companies listed on the Nigerian Exchange Group. The study concluded that the composition is a viable corporate mechanism for improved voluntary disclosure such as risk disclosure in industrial goods companies. This study recommends that the Nigerian industrial goods sector be composed of boards with diversities such as gender, expertise, and nationality, especially the independent directors who can bring their experiences to bear in making decisions with respect to risk information disclosures.

Keywords: Board independence; Board size; Board gender diversity; Risk disclosure; Industrial goods firms; Nigeria (search for similar items in EconPapers)
Date: 2024
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