Corporate Characteristics and Performance Disclosure of Listed Deposit Money Banks in Nigeria

Abstract

Using the balanced scorecard (BSC) model, the study investigated the impact of corporate characteristics (board size, board independence, board age, firm size, and age) on performance disclosure of Nigerian deposit money institutions. The population of the study comprised of Deposit money banks listed on the Nigerian Exchange (NE). Using purposive sampling method, the study gathered secondary data from published financial statements of the selected Ten (10) banks out of  the fifteen (15) quoted banks listed on the Nigerian Exchange (NE) over a ten-year period (2012–2021). Using an adapted disclosure checklist, the annual reports of the ten (10) listed Deposit money banks were content-analysed for performance disclosure for the period 2012–2021.  Ex-post facto research methodology was used while the data was analyzed using descriptive statistics, regression, and STATA. The study found that corporate characteristics (board independence, board size, board gender diversity, firm size, and age) have an impact on effective performance disclosure, but it also points out that the DMBs in Nigeria are more influenced by board size and board gender diversity when it comes to performance disclosure. The research therefore recommends that the board size of banks should be increased from an average of thirteen to fifteen or more to enhance it performance disclosure. The number of female board members should be increased from the research has shown that increases in this regard will enhance performance disclosure.