BOARD ATTRIBUTES AND TIMELINESS OF FINANCIAL STATEMENT OF DEPOSIT MONEY BANKS IN NIGERIA
Résumé
Abstract The study investigated the board attributes and timeliness of financial reporting of deposit money banks in Nigerian Stock Market. The study adopted the ex-post facto design, the variables of board attributes was operationalized using – board independence and board size which formed the independent variable was extracted from the financial reports and NSE fact book of the published seven quoted companies for the period of 2012 to 2022. Our study found that Board independence and Board size has a positive relationship and statistically insignificant. The timeliness of financial reporting is the most difficult to calculate; companies do not submit their published financial reports to the Nigerian Stock Exchange for Filing. The size of the board can influence the timely release of financial reports; it is believed that a smaller board can increase the timely release and the quality of the financial statement than the larger board. Furthermore, a larger board size increases the running cost and dormant directors that may likely be non-participating at the management level. Therefore, the proceeding recommended that the board size of deposit money banks should not be large for effective communication and oversight function. The researcher uses the Nigerian Stock Exchange factbook to extract the number of days the financial reports were submitted to the regulatory agency.
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