Ownership Structure and Financial Reporting Timeliness of Listed Insurance Companies in Nigeria

  • Abdulkadri Alabi Kwara State University, Malete
  • Saheed Olanrewaju Issa Ahmadu Bello University, Zaria, Nigeria
  • Muhammed Kamaldeen Usman Kwara State University, Malete, Nigeria
Keywords: financial reporting, director ownership, institutional ownership, financial reporting timeliness, insurance firms, Nigeria


In view of the rising intricacy of operations of businesses and the evolution of the investment community, greater demands are being made by investors for timely information. Accounting information is thus essential to be made readily accessible within a short period of time else, it loses relevance in terms of its economic value. Continuously, this problem of financial reporting timeliness is more peculiar to companies in the insurance sub-sector which is consequently making stakeholders clutch poor insight about insurance companies in Nigeria. Subsequently, ownership structure as an internal control mechanism, is a critical factor influencing effective corporate governance practices to ensure timely financial reporting. This study therefore investigated the effect of director shareholding and institutional ownership on financial reporting timeliness of listed insurance companies in Nigeria. The population consisted of twenty-five (25) listed insurance companies considering panel data covering 7 years’ period ranging from 2012-2018. Annual reports used were obtained from Nigerian Stock Exchange (NSE) website. Panel corrected standard error regression analysis was used test for the selected influencing variables (director shareholding and institutional ownership) of financial reporting timeliness. The result of the study shows that director shareholding (-0.371) with the p-value of 0.000 and institutional ownership (-0.065) with the p-value of 0.003 both had significant negative effects on timeliness of financial reporting of listed insurance companies in Nigeria. The study concluded that both director shareholding and institutional ownership significantly reduce delays associated with financial reporting of listed insurance companies in Nigeria. It is therefore recommended that insurance firms encourage director’s interests in shareholdings and institutional investors to exercise their monitoring role in ensuring timely financial reporting.


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How to Cite
Alabi, A., Issa, S. O., & Usman, M. K. (2022). Ownership Structure and Financial Reporting Timeliness of Listed Insurance Companies in Nigeria. Global Journal of Accounting, 7(2), 112-124. Retrieved from http://gja.unilag.edu.ng/article/view/1320