Determinants of Financial Transparency and Firm Value of Listed Multinational Firms in Nigeria
This study investigated the effect of financial transparency determinants on firm value of listed multinational companies in Nigeria. Longitudinal research design was adopted; with a sample size of 42 firms listed on the Nigeria Stock Exchange as at 31st December, 2022. Descriptive statistics and multivariate regression analysis were used to analyse data collected, covering 2012 to 2022. It was found that financial reporting quality positively, but insignificantly affect firm value; while relevance of financial reports is positively significant. Board structural quality has positive and insignificant effect on firm value when measured in terms of board composition; but a negative and significant effect was found with board gender diversity. Also, audit report quality has negative and insignificant effect on firm value; audit committee meeting has a negative and significant effect. It was concluded that relevance of financial reports, gender diversity of board and frequency of audit committee meeting are the determinants of financial transparency that influences firm value.
Keywords: Financial transparency determinants, financial reporting quality, board structural quality, audit report quality, firm value.
Citation: Ajagunna, A.A.D., Igbekoyi, O.E., Oluwagbade, O.I., & Asimolowo, A.J. (2025). Determinants of Financial Transparency and Firm Value of Listed Multinational Firms in Nigeria. International Journal of Innovative Research in Accounting and Sustainability, 10(2), 118-132.