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| Corporate Governance and Timeliness of Financial Reports of Selected Listed Nigerian Firms: A Quantile Regression Method
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Samuel Ejiro UWHEJEVWE-TOGBOLO, Festus Elugol UBOGU and Pamela Chioma OKOLI
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Abstract:
The focused of this is corporate governance (CG) and timeliness of financial reporting (TFR) of selected listed Nigerian firms. The study observed that timely financial reporting frequently serves managers' interests when they perform managerial obligations, it does not necessarily serve the benefits of those who use financial statements. The longitudinal study design was used for the research, while the sample studied comprises of 31 non-financial listed Nigerian firms on NEG within the period 2016-2022. The simple random sampling method was utilized to select the firms. The OLS data analysis method was used for the study. However, in generating the dispersion dynamics for TFR, the quantile regression estimating method was utilized in the study. The results for both the OLS estimation and the quantile estimation. The OLS estimation results being basically a mean-based estimation technique indicates that BSIZE has a negative value of (-2.5361) though not significant (p=0.17481) effect on TFR. BDIL has a positive (0.3977) and significant at (p = 0.046) effect on TFR. BDFEX also indicates a negative values of (-0.0761) effect on TFR which is significant (0.00) and lastly there is positive value BDIND of (0.85262) with a significant p-value of (p=0.0342) effect on TFR at 5%. The model parameters shows that the R2 for the model raised at 56% with a significant f-stat (4.1898, p=0.000). The 2.131 statistic value of Durbin Watson indicates absence of potential stochastic dependence of the first order in the model. It was recommended in the research that firms make sure that TFR does not come at the expense of the BDIND and vice versa.
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