Board of Directors and Quality of Financial Reports of Quoted Banks: Evidence from Nigeria
DOI:
https://doi.org/10.61143/umyu-jafr.1(1)2021.005Keywords:
board of banks directors, financial reporting qualityAbstract
This study was carried out to examine six characteristics representing the board of directors (size, independence, meetings, tenure, gender and expertise) of board of directors and their impact on quality of financial reports. A correlational research design was used to examine influence of board quality of financial reports using 12 listed deposit money banks. Finding suggests board shows enormous influence on quality of financial reports. Specific findings show that financial reporting quality will be higher if the size of the board of directors is increased. However, board tenure and expertise cause leads to poor financial reporting quality. In addition, we do not find evidence that board independence, meetings and gender improve quality of financial report. Among other recommendations, the study suggest that the number of board members should be increased since evidence has shown that it enhances financial reporting quality, while the tenure of board members should be reduced since it decreases financial reporting quality.
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