EFFECT OF CORPORATE GOVERNANCE ON SUSTAINABILITY REPORTING OF LISTED DEPOSIT MONEY BANKS IN NIGERIA

Abstract

It has been observed that Nigerian banks have low disclosure in respect to environment,
social, governance. A corporate governance mechanism plays a significant role to ensure
adequate disclosure. The aim of this study is to examine the effect of corporate governance
on sustainability reporting of listed deposit money banks in Nigeria for the period of 2013 to
2022. It is pertinent to note that corporate play’s significant role in ensuring disclosure. The
sample size of the study was 13 listed deposit money banks in Nigeria. The study adopted
correlational and ex-post facto research design. Also, the data were analyzed with the aid of
multiple regression model based on Logistic regression. This study found that audit
committee legal expertise and audit quality are determinants of sustainability reporting of
listed deposit money banks in Nigeria. While, board independence and ownership are not
determinants of sustainability reporting of listed deposit money banks in Nigeria. However, a
discussion on the role of corporate governance is necessary. The paper calls for more studies
on whether corporate governance determines sustainability reporting in Nigeria. This
conclusion is important for shareholders and regulators to appreciate that board
remuneration, legal expertise, and audit quality have an impact on sustainability reporting
and their independence and ownership have no bearing on sustainability reporting.