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" Determinants of Market Discipline and Risk Disclosure Practices of Listed Deposit Money Banks in Nigeria "
Ogunwole, Paul Bawale
Sanni, Mubarak
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Latin Dissertation
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| Language of Document
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English
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| Record Number
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1105521
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| Doc. No
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TLpq2312516553
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| Main Entry
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Ogunwole, Paul Bawale
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Sanni, Mubarak
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| Title & Author
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Determinants of Market Discipline and Risk Disclosure Practices of Listed Deposit Money Banks in Nigeria\ Ogunwole, Paul BawaleSanni, Mubarak
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| College
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Kwara State University (Nigeria)
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| Date
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2019
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| student score
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2019
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| Degree
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M.S.
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| Page No
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123
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| Abstract
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The repeated collapse of financial institutions has led to a perpetual lack of public confidence in the quality of financial and non financial information disclosed by the management of listed Deposit Money Banks (DMB’s) in Nigeria. Hence, the study examined the factors that influence market discipline and risk disclosure practices of Listed DMBs in Nigeria. Specifically, the study: (i) examined the extent to which institutional investors influence market discipline and risk disclosure practices of listed DMB’s in Nigeria; (ii) investigated the magnitude to which audit committee attributes affect market discipline and risk disclosure practices of listed DMBs in Nigeria. (iii) Assessed whether foreign listing influences market discipline and risk disclosure practices of listed DMB’s in Nigeria (iv) evaluated the nature of relationship between discretionary accruals and market discipline and risk disclosure practices of listed DMB’s in Nigeria and (v) examined the difference in market discipline and risk disclosure levels of Listed DMB’s during the pre and post IFRS implementation era in Nigeria. The study adopted ex-post facto research design with the population consisting of twelve (12) Listed DMB’s which was entirely adopted as the sample size of the study, owing to their vital role in the resource allocation of the economy. Secondary data were sourced from the sampled banks annual reports covering the period of eleven years (2007-2017). The Generalized linear regression model (GLM) was used to analyze the first four objectives, while the Wilcoxon Signed Rank test was employed to measure the last objective. The study found that institutional investors, audit committee independence and foreign listing had a significant positive effect on the market discipline and risk disclosure practices of listed DMBs in Nigeria (z= 3.233, p-value <0.01; z=3.069, p-value < 0.01 and z=5.508, p-value < 0.01 respectively.)However, Audit committee composition and discretionary accruals are not significant (z=0.372, p-value>0.05; z=0.920, p-value>0.05). Lastly, the study found that there is significant difference in the level of market discipline and risk disclosure practice in the pre and post IFRS implementation era (Z= -3.361, p-value < 0.01). The study thus concluded that, institutional investors, audit committee independence and foreign listing are significant determinants of market discipline and risk disclosure practices of listed DMB’s in Nigeria. The study recommended among others that regulators should mandate listed banks to have a high proportion of institutional investors in their shareholding as well as mandate the listed banks to have an Accounting experts on the board of audit committee rather than the openness of financial expertise covering all fields of management stated in the Nigerian code of Corporate Governance (2016).
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Accounting
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Economics
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Sub Saharan Africa studies
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