Board Shared Traits and Integrated Financial Disclosure Information in Listed Industrial Goods Firms in Nigeria
Abstract
This study examined the effect of board characteristics on integrated financial disclosure among listed industrial goods firms in Nigeria. Using a quantitative research design, data were collected from annual reports and integrated disclosures of ten purposively selected firms from a population of thirteen listed companies on the Nigerian Stock Exchange. The study employed multiple regression analysis to assess the relationship between board characteristics, including board size, independence, gender diversity, and expertise, and disclosure of financial, human, and intellectual capital. The findings indicated that board size and gender diversity significantly and positively influenced all forms of capital disclosure, suggesting that larger and more diverse boards enhanced transparency and reporting quality. Board independence exhibited mixed effects, showing no significant impact on financial capital disclosure while negatively affecting human and intellectual capital reporting. The study concluded that effective board composition, particularly adequate board size and gender diversity, played a crucial role in enhancing integrated financial disclosure, while excessive independence could limit engagement with non- financial reporting. Based on these results, the study recommended that industrial goods firms maintain well-sized, gender-diverse boards, balance board independence with active oversight, and implement capacity-building initiatives to strengthen disclosure practices. Policymakers and regulators were also advised to promote disclosure frameworks supporting human and intellectual capital reporting, particularly for older firms, to improve transparency and accountability in corporate reporting.
Keywords
Financial disclosureHuman capital disclosureIntellectual capital disclosurecorporate governanceIndustrial goods firms.
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