Title: Do corporate ownership attributes impact timely financial reporting? Empirical evidence from Nigeria

Authors: Edosa Joshua Aronmwan; Osariemen Asiriuwa; Alex Adegboye; Adeyemi Samuel Sopekan

Addresses: Department of Accounting, University of Benin, Nigeria ' University of Hull, UK ' Department of Accounting, Covenant University, Ota, Nigeria ' Finance and Account Department, National Agency for Science and Engineering Infrastructure, Nigeria

Abstract: This study assesses the impact of ownership attributes on the timeliness of financial reporting by corporate entities in Nigeria. It uses a quantitative research methodology and data from 50 financial service companies listed on the Nigerian Stock Exchange (NGX) for the period 2012 to 2018. The findings of the study provide evidence in line with the convergence of interest hypothesis to support a nonlinear significant relationship between managerial ownership and timely financial reporting. Government ownership was also found to have a statistically significant positive association with the timely release of financial statements. Overall, the study has implications for policy formulation as it provides evidence that indicates the timely release of financial reports in Nigeria is driven by the type of ownership structure ceteris paribus. Our findings contribute to the literature on the nexus between ownership attributes and timely reporting within the context of an emerging African country with a less developed exchange market. The study recommends that those charged with governance should subscribe to well-designed equity-based compensation for executives of not more than 20% holdings as this would increase managerial ownership and align the interests of managers and owners as regards timely reporting.

Keywords: timeliness; corporate reporting; government ownership; institutional ownership; managerial ownership; convergence of interest; Nigeria.

DOI: 10.1504/AAJFA.2025.148667

Afro-Asian Journal of Finance and Accounting, 2025 Vol.15 No.5, pp.645 - 664

Received: 16 Feb 2023
Accepted: 01 Nov 2023
Published online: 18 Sep 2025 *

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