The Influence of Corporate Board Attributes on Voluntary Social Disclosure of Selected Quoted Manufacturing Firms in Nigeria

Oraka Azubuike Onuorah(1), Francis Chinedu Egbunike(2), Ardi Gunardi(3),


(1) Department of Accountancy, Nnamdi Azikiwe University, Awka, Nigeria
(2) Department of Accountancy, Nnamdi Azikiwe University, Awka, Nigeria
(3) Faculty of Economics and Business, Universitas Pasundan, Bandung, Indonesia

Abstract

The main objective of this study is to ascertain the influence of corporate board attributes on voluntary social disclosure of selected quoted manufacturing firms in Nigeria. The study shall specifically examine the influence of board size, board ownership, board structure, proportion of women in the board, CEO duality, proportion of non-executive directors, and directors’ remuneration on voluntary corporate social disclosure. The study adopted a correlational research design, in order to ascertain the direction and magnitude of relationship between the variables. The population of the study is made up of Manufacturing Companies quoted on the Nigerian Stock Exchange. The scope of the study limited attention to Conglomerates, Consumer goods, and, Industrial Goods companies. The study made use of Pooled OLS and Heteroskedasticity-Corrected, Ordinary Least Squares to test the hypotheses. The study finds a significant positive influence of board size, a significant negative influence of board ownership, a significant positive influence of board structure, a significant positive influence of proportion of women in the board, no significant negative influence of CEO duality, a significant positive influence of proportion of non-executive directors, and, a significant positive influence of directors’ remuneration on voluntary corporate social disclosure. The study recommends a focus on board quality not quantity, strict rules for regulating insider shareholding. Creating corporate sub-committees to strengthen the effectiveness and efficiency of decisions and enthroning corporate board diversity.

Keywords

corporate board, voluntary disclosure, corporate social responsibility, corporate governance

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References

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DOI: https://doi.org/10.32456/.v1i1.7

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