FIRM CHARACTERISTICS AND FORWARD LOOKING INFORMATION DISCLOSURE: THE CASE OF QUOTED DEPOSIT MONEY BANKS IN NIGERIA

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Vol 3 No 2, Sept, 2014.pdf (430.14 KB)

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2014-09-02

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Department Of Accounting, Faculty Of Administration, Nasarawa State University, Keffi.

Abstract

The focus of this paper is on assessing forward-looking information in annual report and accounts of listed Deposit Money Banks in Nigeria and empirically exploring the firm characteristics that affect the extent of forward-looking information (FLI) disclosed. A disclosure index composition consisting of 35 forward-looking information items is used to investigate the level of forward-looking information in annual report of DMBs listed on Nigeria Stock Exchange for the year 2012. Using content analysis the study found weak FLI disclosure by DMBs. A multiple regression analysis was used to explore the relationship between FLI and four main variables (Bank size, performance, leverage and liquidity). The results show that bank size and leverage have positive but insignificant association with the level of forward-looking information disclosure. Conversely, bank performance and liquidity are found to be negatively insignificant in explaining the level of forward-looking information. There is the need to increase the level of FLI disclosure considering its impact on decision making by various users of corporate reports.

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https://keffi.nsuk.edu.ng/handle/20.500.14448/731

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