OWNERSHIP STRUCTURE AND THE LEVEL OF QUALITATIVE DISCLOSURES OF QUALITATIVE INFORMATION BY QUOTED NON-FINANCIAL COMPANIES IN NIGERIA

Abstract

This study examined the influence of various ownership structures on the disclosure of qualitative information by non-financial firms that are publicly traded on the Nigerian Stock Exchange. The study obtained data from 22 organizations spanning the period from 2012 to 2021, utilizing secondary data extracted from their audited annual reports. The study employed regression analysis to examine the data and discovered that foreign ownership had a significant and positive effect on the disclosure of qualitative information. Nevertheless, the level of ownership concentration, institutional ownership, and management ownership did not exert a substantial influence on disclosure. The study recommends that foreign owners should increase their engagement in overseeing company activities in order to enhance information disclosure and transparency. Moreover, the augmentation of institutional ownership and their proactive engagement in corporate governance has the potential to improve transparency, as specified in the Nigerian Code for Corporate Governance.