THE IMPACT OF CORPORATE GOVERNANCE ON VOLUNTARY INFORMATION DISCLOSURES OF QUOTED NIGERIA OIL FIRMS: AN EMPIRICAL ANALYSIS

ABSTRACT

The main objective of this study is to empirically investigate the impact of corporate governance on voluntary information disclosures of quoted Nigeria Oil Firms using data from annual reports from a sample of 7 quoted companies during 2008 – 2017. A content analysis of the annual reports of sampled companies was carried out with the use of a disclosure checklist developed by the researcher. Multiple regression is employed for the study. The study reveals that corporate governance has significant impact on financial reporting of quoted Oil firms in Nigeria and that the level of voluntary disclosure has significantly improved after the introduction of corporate governance codes in Nigeria. Institutional share ownership is significance but negative at 5% while audit committee meeting and firm size were positive and significance at 1%. The paper recommend the reviews of the corporate governance codes be sustained, institutional share ownership should be discourage and audit committee meeting should be encouraged.

Keywords: Corporate Governance, Voluntary Information Disclosures, Disclosure Index, Financial Reporting.