Corporate Governance Disclosure: The Evidence from Nigeria
DOI:
https://doi.org/10.52962/ipjaf.2018.2.4.52Keywords:
Corporate Governance, Compliance, Financial, Nonfinancial, Disclosure, Oil CompaniesAbstract
This study centres on the investigation of the level of compliance with the Nigerian Corporate Governance Code's recommendations by the six selected oil companies from 2004 to 2012. Two stages of compliance level with the Corporate Governance Disclosure Index (CGDI) were developed from 43 specific corporate governance issues based on the Nigerian Code's provisions and analysed. Firstly, the study demonstrates the degree of compliance with the CGDI for the selected companies over the survey period (2004-2012). This allows the testing of the continuous progress of the level of conformity with the Nigerian Code's provisions. Second, it measures the level of compliance with the CGDI that existed over the 2004-2009 and 2010-2012 periods respectively. The motive is to find out whether the level of compliance with corporate governance has increased over the two periods since the creation of the Nigerian Code in late 2003. The findings indicate a remarkable improvement with the compliance with the Nigerian Code over the periods by the selected companies.
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