FIRM ATTRIBUTES AND FINANCIAL REPORTING QUALITY OF DEPOSIT MONEY BANKS IN NIGERIA
Asuquo, Nsima Isaac , Etim Osim Etim , Unirere,Peter Gabriel , Adebayo, John Adeniran and Bassey, Ebong Okon
Volume 12 Issue 1
Abstract
The study investigates the effect of firm attributes on financial reporting quality of deposit money banks in Nigeria. The specific objectives were to evaluate the effect of firm size, firm remuneration and firm independence of financial reporting quality of deposit money banks in Nigeria. The ex-post facto research design was adopted for the study. The population of the study consisted of 20 deposit money banks with the sample size of 3 listed deposit money banks in the floor of Nigeria Exchange Group (NEG) 2023 and was selected using purposive sampling technique. Secondary sources of data collection were used for which included annual reported and Nigeria Exchange Group Fact book. Data were analyzed using multiple regression analyses. Findings indicated that firm size, firm remuneration and firm independence have no significant and positive effect on financial reporting quality of deposit money banks in Nigeria(R2 -.697, Beta- .058, .373,-501, F-.27.555, P-.000, P<0.05). It was concluded that firm size, firm remuneration and firm independence have no significant effect on financial reporting quality of deposit money banks in Nigeria. Therefore, it was recommended that leveraging the findings of this study, it was recommended that Nigerian deposit money banks are to implement scalable reporting standards that account for firm size. Larger banks, due to their complex operations and greater resources, should be encouraged to adopt more detailed and rigorous financial reporting practices. Nigerian deposit money banks review and refine their executive compensation structures to emphasize long-term performance metrics and discourage short-term profit maximization at the expense of transparency. Keywords: Firm Attributes, Firm size, Firm Remuneration, Firm Independence and Financial Reporting Quality, Deposit Money Banks
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