Effect of Corporate Governance Attributes on Voluntary Disclosures of Listed Commercial Banks in Nigeria

Abstract

This study examines the effect of corporate governance attributes on the voluntary disclosures of listed commercial banks in Nigeria. The research focuses on key governance mechanisms, including board independence, board expertise, board gender diversity, and audit committee characteristics, to determine their influence on the level of voluntary disclosures. Using a longitudinal research design, the study analyzes secondary data obtained from the annual reports and financial statements of 15 commercial banks listed on the Nigerian Exchange Group (NGX) from 2014 to 2023. Panel regression analysis is employed to investigate the relationship between corporate governance attributes and voluntary disclosures. The findings reveal that board expertise and audit committee expertise have a statistically significant positive effect on voluntary disclosures. However, board independence and board gender diversity show positive but statistically insignificant effects. Based on the findings, the study recommends that banks prioritize the appointment of independent directors and board members with financial expertise, promote gender diversity on boards, and strengthen audit committee expertise through regular training and meetings.