Effects of Corporate Governance on Corporate Social and Environmental Disclosure among Listed Firms in Nigeria
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This study examined the effects of corporate
governance (CG) mechanisms on corporate
social and environmental disclosure (CSED)
among firms listed on the Nigerian Stock Exchange.
Forty firms were selected for the study using
judgmental sampling technique. A content analysis of
information in the corporate annual reports and
websites of the selected firms for the period 2006-2010
provided data for the study. CSED was measured using
50 items of information and CG mechanisms examined
were CEO duality, Board size, proportion of nonexecutive
directors and audit size. Data obtained were
analyzed using correlation and regression analysis.
Findings revealed a significant negative relationship
between CEO duality and CSED; and significant positive
relationships between proportion of non- executive
directors, board size, audit size and CSED. The study
concluded that an effective board with higher number
of non executive directors (independent directors) and
larger size and higher quality audits will be more
supportive of firms disclosing a wider range of
information to stakeholders including social and
environmental information.
Keywords
HF5601 Accounting