TOPIC
Firms in Nigeria
manufacturing firms in Nigeria. To achieve the objective of the study, descriptive research
design was adopted. The data were collected through primary source with the aid of well structured questionnaire. The sample of the study was 250 respondents purposively selected
from five listed manufacturing firms located in South East Nigeria. The data collected from
these respondents were analyzed using multiple regression analysis and the following
findings were revealed; (i) Ownership structure, board of directors and timeliness of
information have positive and significant effect on profitability of listed manufacturing firms
in Nigeria, (ii) Ownership structure, board of directors and timeliness of information have
positive and significant effect on accountability of listed manufacturing firms in Nigeria and
(iii) Ownership structure, board of directors and timeliness of information have positive and
significant effect on sales growth of listed manufacturing firms in Nigeria. Based on the
findings, the study recommends Since the result showed that financial transparency has
positive and significant effect on firm’s profitability, it’s prudent for listed companies to
disclose as much information as possible and also ensure that the information disclosed are
transparent so as to minimize the level of information asymmetry and consequently
stimulate financial performance. The companies can also take the control of financial
performance of the company through using high proficiency, experienced and independent
managers with the necessary legal power as a potentially powerful mechanism and to be a
cause of improvement in the accountability of the company.
Keywords: Financial, Transparency, Ownership Structure, Board of Directors and
Information
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PUBLISHED
2023-01-11
HOW TO CITE
Ibeaja, Uzoma Friday, Nosiri, Hilary Ukachukwu, and Okoro, Chinonso
Churchill (2023). Financial Transparency and Financial Performance of Listed Manufacturing
Firms in Nigeria. IDOSR JOURNAL OF ARTS AND MANAGEMENT 8(1):40-57. https://doi.org/10.59298/IDOSR/2023/12.1.5894