THE NEXUS BETWEEN GOVERNANCE MECHANISMS AND COMPLIANCE WITH FAIR VALUE DISCLOSURE: EVIDENCE FROM THE NIGERIAN FINANCIAL SERVICE SECTOR
Bishir Balarabe, Adamu Idris Adamu and Ismaila Yusuf
Volume 11 Issue 1
Abstract
The study examines the effect of governance mechanisms on compliance with fair value disclosure of listed financial services firms in Nigeria. The study used a correlational research design and panel data from the annual reports and financial statements of 42 financial services firms over a three-year period (2021-2023) and the data was analyzed using STATA 14.2. The findings of the study indicated that board size has no significant influence on listed financial services firms' compliance with fair value disclosure. Board meeting has significant and positive influence on listed financial services firms' compliance with fair value disclosure in Nigeria. The audit committees meeting has no significant influence on the compliance of listed financial services firms in Nigeria with fair value disclosure. Based on the study's findings, financial service sector firms should hold more board meetings by the board as it makes the board to be more effective in their decision which improves the compliance with disclosure requirement. Keywords: Corporate Governance, Board Size, Fair Value Disclosure, Board meetings, audit committee meeting and financial service sector
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