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Board of Directors’ Characteristics and Environmental Information Disclosure of Listed Firms in Nigeria

Izukwe, Raymond

Abstract

This study examined the relationship between board of directors’ characteristics and environmental information disclosure nonfinancial listed firms in Nigeria. The study adopted secondary data collated from the published financial statements of listed nonfinancial firms in Nigeria. The study covered a period of 10 years spanning from 2012 to 2021. The study adopted board size, board diligence, board independence and board gender diversity as measures of board of director’s attributes. The study also employed firm size as a control variable. The panel data were analyzed with descriptive statistics, diagnostic tests and inferential statistics. The result from the study revealed that board size have positive significant effect on environmental information disclosure of listed firms in Nigeria. Board independence recorded negative significant relationship with environment information disclosure of listed firms in Nigeria. On the other hand, board gender diversity recorded positive insignificant effect on environment information disclosure of listed firms in Nigeria. Board diligence recorded negative insignificant effect on environment information disclosure of listed firms in Nigeria. On the basis of the result, the study recommends that Nigerian listed firms prioritize board composition and governance practices that align with their sustainability and environmental disclosure objectives. Specifically, firms should consider the positive impact of larger boards and the potential drawbacks of excessive board independence, while also recognizing the unique challenges faced by larger organizations in reporting environmental information.

Keywords

Board SizeBoard IndependenceBoard DiligenceBoard Gender DiversityEnvironmental Information Disclosure.

References

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