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Do Board Characteristics Affect Financial Reporting Timeliness? An Empirical Analysis

Author

Listed:
  • O. Asiriuwa
  • S. B. Adeyemi
  • O. R. Uwuigbe
  • U. Uwuigbe
  • E. Ozordi
  • O. Erin
  • O. Omoike

Abstract

This research explores the effect of board characteristics on the timeliness of financial reporting from 2012-2018 for 50 listed financial firms. This research, comprising a survey of 50 companies operating in Nigeria's financial sector, gained insights from the agency theory to investigate the impact of board characteristics on the timeliness of financial reporting. Board characteristics were measured using variables such as board size, board independence, board financial expertise, board diligence and CEO gender. We analysed the data using the logistics regression method. Empirically, the results showed that there is a positive association between the financial experience of the board and the timeliness of financial reporting. The size of the board and the independence of the board indicate a negative relationship to the financial reporting timeliness. While, board diligence revealed a negative and insignificant association with the timeliness of financial reporting. Overall, this indicates that Nigerian financial firms' board characteristics have a bigger effect on the timeliness of financial statements. This study contributes to the literature in emerging economies in the field of corporate governance and financial reporting.

Suggested Citation

  • O. Asiriuwa & S. B. Adeyemi & O. R. Uwuigbe & U. Uwuigbe & E. Ozordi & O. Erin & O. Omoike, 2021. "Do Board Characteristics Affect Financial Reporting Timeliness? An Empirical Analysis," International Journal of Financial Research, International Journal of Financial Research, Sciedu Press, vol. 12(4), pages 191-202, July.
    • Handle: RePEc:jfr:ijfr11:v:12:y:2021:i:4:p:191-202
    DOI: 10.5430/ijfr.v12n4p191
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    References listed on IDEAS

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