Board of Directors' Attributes and Financial Reporting Quality of Listed Deposit Money Banks in Nigeria
This study examined the effect of board attributes on the financial reporting quality of listed deposit money banks in Nigeria. It focused on board independence, gender diversity, board expertise, and board meetings. Using an ex-post facto research design, 12 out of 14 listed banks were selected through purposive sampling. Secondary data were obtained from the banks' audited annual reports from 2011 to 2021, and descriptive and panel estimation techniques were applied. The results showed that board independence had a negative but significant impact on financial reporting quality, implying that independent boards effectively perform monitoring and advisory roles. Gender diversity positively and significantly impacted financial reporting quality, suggesting that women on boards enhance decision-making. Board expertise also had a positive and significant effect, indicating that members with accounting and auditing experience improve financial reporting. The study concluded that board attributes significantly affect financial reporting quality in deposit money banks. It recommended maintaining a manageable number of independent directors and increasing the presence of board members with relevant expertise to enhance financial reporting quality.
Keywords: Board Independence, Gender Diversity, Board Expertise, Financial Reporting Quality
Citation: Bello, M.A., Yisau, N.S., & Sako, K.F. (2024). Board of Directors' Attributes and Financial Reporting Quality of Listed Deposit Money Banks in Nigeria. International Journal of Innovative Research in Accounting and Sustainability, 9(4), 112-125.