BOARD CHARACTERISTICS AND FINANCIAL REPORTING LAG OF LISTED INDUSTRIAL GOODS FIRMS IN NIGERIA

Abstract

This study aims to examine the effect of board characteristics on financial reporting lag of
listed industrial goods firms in Nigeria. Expo facto research design and logistic regression
method was used in this study, whereas the population and sample of the study consists of
13 listed industrial good firms on the Nigerian Exchange Group Plc or Nigerian Exchange
Limited for the period of twelve (12) years from 2011 to 2022. The findings of the study
therefore, shows that board independence (BIND) is significantly negative on financial
reporting lag. However, board size (BS), board meetings (BM) and audit committee
financial expertise (ACFE) have significantly positive impact on financial reporting lag
while gender diversity (GD) has negative and insignificant impact on financial reporting
lag of listed industrial good firms in Nigeria. Therefore, it is recommended that the
management of listed industrial good firms in Nigeria should maintain an increase number
of non-executive directors and level of board independence, board size, board meetings
and audit committee financial expertise. This will result in an increase in the financial
reporting timeliness of listed industrial goods firms in Nigeria.