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Journal of Finance and Accounting. 2017, 5(2), 44-52
DOI: 10.12691/jfa-5-2-3
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Corporate Attributes and Corporate Disclosure Level of Listed Companies in Nigeria: A Post-IFRS Adoption Study

Kennedy Prince MODUGU1, and Sharlywest Uwabor EBOIGBE2

1Department of Accounting, Faculty of Management Sciences, University of Benin, Benin City, Edo State, Nigeria

2Department of Banking & Finance, Faculty of Management Sciences, University of Benin, Benin City, Edo State, Nigeria

Pub. Date: June 22, 2017

Cite this paper:
Kennedy Prince MODUGU and Sharlywest Uwabor EBOIGBE. Corporate Attributes and Corporate Disclosure Level of Listed Companies in Nigeria: A Post-IFRS Adoption Study. Journal of Finance and Accounting. 2017; 5(2):44-52. doi: 10.12691/jfa-5-2-3


This study examines the determinants of corporate disclosure level of listed companies in Nigeria. Specifically, the study investigates the relationship between two structure characteristics and corporate disclosure in Nigerian listed firms. The data used in the study were obtained from the annual reports of 60 companies listed on the Nigerian Stock Exchange from the various sectors of the Nigerian economy. The study covers the post International Financial Reporting Standards (IFRSs) adoption period of three years (2012 – 2014). The structure characteristics (independent variables) are firm size and leverage. Corporate disclosure (dependent variable) was disaggregated into mandatory, voluntary and total disclosure. The data were analysed using both descriptive statistics and the Ordinary Least Squares (OLS) regression. Findings from the descriptive statistics reveal that contrary to prior findings, there is a steady improvement in mandatory disclosure by Nigerian companies since the country’s adoption of IFRSs. However, voluntary disclosure still remains relatively low.Our empirical results show a significant positive association between firm size and mandatory disclosure. The results also reveal a significant negative relationship between leverage and mandatory disclosure. Both leverage and firm size showed a significant positive relationship with voluntary disclosure. The combined effect of leverage and firm size show a significant positive relationship with total disclosure. Based on these findings, we recommend that the Financial Reporting Council of Nigeria and other regulatory agencies should intensify efforts towards enforcement of companies’ compliance with the requirements of IFRSs and other relevant statutory provisions.

corporate attributes corporate disclosure IFRS adoption Nigeria

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