Corporate Governance Attributes Research Articles

The relation between corporate social responsibility and profit shifting of multinational enterprises

AbstractWe examine the relation between corporate social responsibility [CSR] and international profit shifting. We find consistent evidence that CSR is adversely related to profit shifting within European and US multinational firms. Additional results document that less profit shifting occurs in multinational firms that show high performance in the social or corporate governance dimensions. For US multinational firms, we find that the CSR performance is negatively related to profit shifting, particularly if a multinational firm faces fewer reputational concerns or competitive threats. Our findings point to a corporate culture in which, for international tax planning through profit shifting, CSR and tax payments complement each other.

Do Digital City Policies Promote Corporate ESG Performance? Evidence from Research on Textual Analysis of China

ABSTRACT One of the major aims of digital city development is to improve the cities’ natural and social environment friendliness, which aligns with the target of the ESG strategy. However, it is still unclear how to measure the impact of digital city development on ESG performance. This paper examines how digital city policies affect the ESG performance of firms. We propose a methodology to quantify digital city policies based on the textual analysis (BOW method) and measure the level of digital city policy support in each prefecture-level city in China from 2011 to 2022. Further, we introduce instrumental variables (IV), PSM, and other methods to empirically investigate the impact effects and obtain the following main conclusions: First, the digital city policy positively impacts firms’ ESG performance. After controlling for the fixed effects of the different dimensions, a 1% increase in the level of digital city policy support represented by the DCPI raises firms’ ESG scores by about 2%. Second, the facilitating effect of digital city policies on the sub-dimensions of ESG is asymmetric. Digital city policies significantly affect the environmental protection and corporate governance dimensions of firms, while the effect on CSR is not significant. Third, the impact of digital city policies on ESG performance is heterogeneous across different regions of China and cities with different population sizes. This paper will enrich the understanding of digital city policies and the research on institutional factors affecting ESG, which will provide some insights to both business managers and policymakers.

Tapping into long term value: a comprehensive overview of BIST 30 index companies future potential

Purpose - This article aims to establish a correlation between the valuation potential of companies listed on the Borsa Istanbul 30 index and their enduring competitive advantage, focusing on microeconomic Key Performance Indicators (KPIs) and corporate governance dimensions. Methodology - The study conducted an extensive analysis of the financial statements of BIST 30 companies spanning three years. Employing a unique approach utilizing Triangular Spherical Fuzzy Sets, it assessed the significance of these KPIs and corporate dimensions, chosen for their capacity to handle imprecise data. Three experts were consulted over three years to assign importance scores to each indicator, which were then used to calculate cumulative scores for individual stocks. Findings - The application of the Triangular Spherical Fuzzy Sets method provided a comprehensive understanding of these indicators, ena-bling a nuanced evaluation of the cumulative score for each stock. Notably, a clear distinction emerged between service and manufacturing companies, suggesting a potential glass ceiling effect that favors production-oriented enterprises. The observed patterns in certain stocks aligned with the framework developed in this study. Conclusion - This study illustrates the use of fuzzy logic in evaluating stock valuation potential, revealing insights into their sustained growth prospects. Aligned with Warren Buffett's value investing principles, it advances modeling approaches within the Turkish public stock exchange. Offering a unique perspective on BIST 30 stocks' long-term valuation potential, it provides valuable insights for investors, stakeholders, and analysts in the dynamic finance landscape. Emphasizing the understanding of companies' enduring competitive strength in an evolving market is pivotal. Keywords: Value investing, triangular spherical fuzzy sets, long term competitive advantage, corporate governance.

Sustainable prosperity: unravelling the Nordic nexus of ESG, financial performance, and corporate governance

Purpose In the swiftly evolving business landscape, environmental, social and governance (ESG) considerations have gained exceptional prominence, as stakeholders increasingly emphasize accountability and sustainability. This study aims to meticulously probe the intricate interplay between ESG factors, financial performance and the distinct corporate governance landscape that characterizes the Nordic region's crucible of proactive societal and environmental commitment. Design/methodology/approach The authors begin with a data set of 899 Nordic firms across Sweden, Norway, Denmark, Finland and Iceland. Using the Thomson Reuters database, they refine this data set by excluding non-regional headquarters and entities without ESG scores or year-long financial data. This resulted in a focused data set of 1,360 firm-years spanning a decade, forming the foundation for investigating the link between ESG factors and financial performance in Nordic firms. Findings Drawing upon empirical data, the authors systematically dissect the correlation between specified financial ratios and ESG scores on the bedrock of sustainability evaluation. The findings underscore a partially significant, yet robust relationship between ESG endeavors and financial performance metrics. Furthermore, the intricate interplay of corporate governance dimensions’ reveals intriguing correlations with financial indicators among the surveyed Nordic enterprises. However, the findings also reveal an intricate weave that underscores the ESG and financial performance nexus. Research limitations/implications This study addresses stakeholders’ theory and unique positions and contributes to the current discussion on sustainability reporting literature by providing empirical evidence of ESG influences on firm profitability through board characteristics in the specific context of the Nordic region. The sample for this study encompasses firms listed in Nordic countries; thus, the results may not be generalizable to unlisted firms and other countries or regions. Practical implications This study suggests that Nordic firms are advanced in reporting ESG in response to diverse stakeholder demands as part of their regular activities. This study provides valuable insights for diverse stakeholders including researchers and regulatory bodies. Social implications This study provides an understanding of stakeholders about the association of ESG and sustainability practices with firm profitability, which might lead to making the world a better place. Originality/value While illuminating the multifaceted ESG-financial performance nexus, this study reveals its intricate nature. This complexity accentuates the compelling need for further exploration to decode the exact outcomes and myriad factors contributing to the array of correlations observed. Through this comprehensive inquiry, this research advances the understanding and underscores the pivotal role of a focused investigation. This study seeks to harmonize ESG practices and financial performance seamlessly within the Nordic business realm.

Does corporate governance spur bank intellectual capital in an emerging economy? A system GMM analysis from Ethiopia

PurposeThe current study aims to explore the impact of corporate governance (CG) mechanisms, as measured by board size, board meeting frequency, board gender diversity, number of board subcommittees, board remuneration, size of audit committee, and audit committee meeting frequency, on bank intellectual capital (as calculated by the modified value-added intellectual coefficient (M-VAIC) and its components (human capital efficiency (HCE), structural capital efficiency (SCE), and relational capital efficiency (SCE)).Design/methodology/approachPanel data is extracted from the financial and other internal reports of 14 commercial banks and the National Bank of Ethiopia for the period 2011–2022. A two-step system generalized method of moments (2SYS-GMM) was used to account for the unobserved endogeneity and heteroscedasticity problems.FindingsThe empirical findings suggest that board size and board meeting frequency have a negative and significant impact on all IC performance measures. Besides, audit committee size has a negative and significant effect on HCE, SCE, and M-VAIC of the banking industry in Ethiopia. Moreover, board remuneration has a significant positive relationship with IC efficiency (HCE, SCE, and M-VAIC). Also, audit committee meeting frequency has a positive and significant effect on the HCE of banks. However, board gender diversity and the number of board subcommittees have not made statistically significant contributions to IC performance.Research limitation/implicationThe study is limited in its use of seven dimensions of CG and future studies can use other alternative accounts for CG variables. Next, this study applies only to commercial banks; hence, future studies can include other financial as well as non-financial organizations such as insurance companies, microfinance institutions, manufacturing, and other sectors.Practical implicationsThis study contributes to helping the regulators and practitioners of the banking industry improve the existing standards and guidelines for CG practices to strengthen their IC performance. The findings may also give input for policymakers to integrate the intellectual capital in the decision-making process for policy formulation and implementation for the establishment of a robust banking sector.Originality/valueConsidering the modified value-added IC coefficient (M-VAIC) and 2SYS-GMM models, this research is the first study to analyze the relationships between CG and banks’ IC in Ethiopia.

Corporate governance and green innovation: international evidence

PurposeThis study aims to exploit Tobin’s Q model of investment to examine the relationship between corporate governance and green innovation.Design/methodology/approachThe study is based on a sample of 3,896 firms from 2002 to 2021, covering 45 countries worldwide. The authors adopt Tobin’s Q model to conceptualize the relationship between corporate governance and investment in green research and development (R&D). The authors argue that agency costs and financial market frictions affect corporate investment and are fundamental factors in R&D activities. By limiting agency conflicts, effective governance favors efficiency, facilitates access to external financing and encourages green innovation. The authors analyzed the causal effect by using the system-generalized method of moments (system-GMM).FindingsThe results reveal that the better the corporate governance, the more the firm invests in green R&D. A 1%-point increase in the corporate governance ratings leads to an increase in green R&D expenses to the total asset ratio of about 0.77 percentage points. In addition, an increase in the score of each dimension (strategy, management and shareholder) of corporate governance results in an increase in the probability of green product innovation. Finally, green innovation is positively related to firm environmental performance, including emission reduction and resource use efficiency.Practical implicationsThe findings provide implications to support managers and policymakers on how to improve sustainability through corporate governance. Governance mechanisms will help resolve agency problems and, in turn, encourage green innovation.Social implicationsUnderstanding the impact of corporate governance on green innovation may help firms combat climate change, a crucial societal concern. The present study helps achieve one of the precious UN’s sustainable development goals: Goal 13 on climate action.Originality/valueThis study goes beyond previous research by adopting Tobin’s Q model to examine the relationship between corporate governance and green R&D investment. Overall, the results suggest that effective corporate governance is necessary for environmental efficiency.

How do corporate governance, artificial intelligence, and innovation interact? Findings from different industries

Research in the field of corporate governance has been exhaustive, and recently many scholars have focused on the relationship between corporate governance attributes and artificial intelligence (AI), corporate governance attributes, and corporate innovation (Asensio-López et al., 2019), however, there are few studies that combine corporate governance, AI, and corporate innovation. This article examines the relationships among corporate governance attributes, AI, and corporate innovation. Adopting a new perspective, we have tried to help resolve this issue using a content-analysis that integrates data from over 50 companies that trade on National Association of Securities Dealers Automated Quotations (NASDAQ) to analyze the relationship between board attributes, the practice of AI and firm innovation for the time 2018–2022. The results suggest that particular aspects of boards, such as board size, board diversity, and ownership concentration show significant correlations with firm AI development and innovation for overall industries, but the levels of associations also vary depending on different innovation measurements and samples considered in specific industries. Corporate governance has more significant variables in the manufacturing and information technology service industries. Moreover, the mediating effects of AI and innovation are examined, respectively. This research offers implications to corporate decision-makers as to how to proceed if the intent is to offer commercialized AI advancements and successful breakthrough innovations.

Decoding tax management: The role of corporate governance mechanisms

While tax pressure remains a major concern in corporate management, it is legitimate to ask whether tax has always been among the core factors of corporate governance (Chytis et al., 2020). This study aims to examine the influence of corporate governance on tax management practices within Moroccan firms listed on the Casablanca Stock Exchange (CSE). Focusing on three dimensions of corporate governance — board composition, audit committee structure, and external audit quality — we employed multiple regression analysis on data spanning 2014–2019 from a sample of 48 listed firms, totaling 288 firm observations. Significantly, board size, chief executive officer (CEO) duality, and external audit quality are found to be pivotal factors shaping tax management practices. Other corporate governance variables, notably the independence of the board of directors and the structure of the audit committee, do not appear to exert a significant influence on the tax management of listed Moroccan companies. Our study is one of the few to have addressed the issue of tax management in the Moroccan context. Moreover, it may also serve as a fundamental resource for researchers exploring the complex dynamics of tax practices in the organizational context.

Promoting organisational citizenship behaviour through corporate governance

Corporate governance is a major topic of debate among scholars from different parts of the world, but little has been empirically investigated on the impact of corporate governance on the discretionary work behaviour of employees in selected deposit money banks in Nigeria. Therefore, the purpose of this study is to examine the impact of corporate governance on the organizational citizenship behaviour of employees in deposit money banks. A cross-sectional survey design was used, which supports the use of questionnaire to collect data from the participants. Data were collected from 224 participants from 18 deposit money banks operating in south-east Nigeria. The study employed frequency distribution and linear regression to analyse respondents’ profiles and research hypotheses. Results of the study revealed that corporate governance dimensions predicted organisational citizenship behaviour indicators. The practical significance of this study lies in the possibility of improving organizational citizenship behaviour in organizations by integrating the main recommendations of this study into the corporate governance of organizations. This study concludes that corporate governance (measured in terms of leadership quality, accountability, board size, board effectiveness, and board independence) influences and improves organizational citizenship behaviour that is driven by altruism, integrity, sportsmanship, courtesy, and civic virtue.

Corporate Governance Attributes and Financial Performance of Listed Industrial Goods Companies in Nigeria

This study investigates the relationship between corporate governance attributes and the financial performance of listed industrial goods companies in Nigeria. The specific objectives of the study were to determine whether corporate governance attributes – board size, board composition, and board committee have any effect on the financial performance of listed industrial goods companies in Nigeria. An ex-post facto research design was used. The study used secondary data from the financial statements and annual reports of the quoted industrial goods companies for the relevant years under consideration (2018-2022). The study, which uses the panel least square regression technique, discovered that the return on assets of listed industrial goods companies in Nigeria is not significantly impacted by the size of the board. The make-up of the board significantly improves the return on assets of Nigerian-listed industrial goods businesses. However, it was discovered that the board committee had no appreciable favorable impact on the return on assets. The present study shows that the financial performance of listed industrial goods businesses in Nigeria is positively impacted by corporate governance. The study concluded that the regulatory body should keep improving regulations that reinforce the makeup of the board of directors based on its results.

Revisiting the relationship between corporate governance mechanisms and ESG disclosures in Saudi Arabia

Purpose This paper aims to examine the effects of corporate governance mechanisms (board chairman independence, board independent director meeting attendance, audit committee size and audit committee meetings) on the environmental, social and governance (ESG) and its individual component disclosures of listed firms in Saudi Arabia. Design/methodology/approach The study used unbalanced panel data obtained from the Bloomberg data set over 11 years, from 2010 to 2020. Findings The findings indicate that board chairman independence (BCI) and audit committee size (AC size) have a significant negative and positive association with ESG disclosure, respectively. However, the results show that board independent director meeting attendance (BIMA) and audit committee meetings (AC meetings) do not significantly influence ESG disclosure. Regarding the individual dimensions (components), the results show that only BIMA has a significant negative association with environmental disclosure. Besides, only BCI and AC meetings have a significant positive association with social disclosure. Also, only BIMA and AC size have a significant positive and negative relationship with governance disclosure, respectively. Research limitations/implications The study used a sample of 29 listed companies in Saudi Arabia. Each firm has at least four years of ESG disclosures. Besides, the paper considered only four corporate governance attributes, comprising two each for the board and audit committee. Practical implications The results provide insights to regulators, boards of directors, managers and investors to enhance ESG and its components’ reporting toward the sustainable operations and better performance of Saudi firms. Originality/value This study is among the few that provide empirical evidence on how some essential corporate governance attributes that have not been given adequate attention by prior studies (board chairman independence, board independent directors’ meeting attendance, audit committee size and audit committee meetings) influence not only ESG reporting as a whole but also its individual dimensions (components).

The effect of corporate governance on firm performance: perspectives from an emerging market

The aim of this research is to inspect whether Corporate Governance (CG) attributes such as Audit Meeting Frequency, Ownership Concentration, Board Meeting Frequency, Foreign Ownership, Institutional Ownership, Board Gender Diversity, Audit Committee Size, Board Size, Audit Reputation and CEO Compensation affect firms’ performance in Pakistan. This research employed the pooled least square method to estimate the association among attributed of CG and firm performance measures (Return on Asset and Tobin’s Q) by selecting the Cement Sector and Energy sector companies listed in Pakistan Stock Exchange (PSX) during 2009–2022. A substantial result is that the energy sector’s CG system does not differ from the cement sector. Tobin’s Q is lesser than ROA, suggesting the same condition as companies in the cement sector. On average, firms in the energy sector are older than the firms in the cement sector. It contradicts the result of profitability proxies of the energy sector. Being older firms, the profitability proxies show lower returns as compared to cement sector firms. Pakistan needs a uniform CG code and the need for good CG practices for specific approaches of firms. This study enhances the literature in CG domain by investigating the impact of CG processes in Pakistani firm’s performance. In Pakistan, there are studies available on the topic but the comparison between the selected two industries with such a large data set are the unique elements of the current research. In prior studies, the time interval was also short, only five years. Further, the firm performance was measured by an accounting-based tool and did not include a market-based tool for performance, as well as variables for CG were also limited.

The Impact of Corporate Governance Attributes on Financial Distress among the Listed Firms in Pharmaceuticals Industry of Bangladesh

This paper investigates the relationship between corporate governance and the likelihood of financial distress. To evaluate the impact of corporate governance on financial distress, a multiple regression model and longitudinal panel data are used. Corporate governance is determined by the board of directors, audit committee, and ownership structure, whereas the Altman Z-score is used to indicate financial distress. The findings imply that financial distress is influenced by corporate governance variables (board independence, auditor independence, auditor opinion, sponsor directors ownership, and foreign shareholders), and firm-level variables (sales growth, performance, liquidity, firm size)). From an academic standpoint, this paper adds to our understanding of the association between corporate governance practices and the risk of financial distress in emerging markets like Bangladesh. The findings may encourage Bangladeshi listed companies to follow and implement good corporate governance practices, increasing investor, regulator, and stakeholder confidence.

The Role of Organizational Culture in Mediation Dimensions of Good Corporate Governance in The Era of National Health Assurance on Performance the Blud of Hm Djafar Harun Hospital Kolaka Utara District

This study aims to look at the role of organizational culture in mediating the dimensions of GCG in the era of national health insurance on performance at the BLUD HM Djafar Harun Hospital, North Kolaka Regency, using quantitative research. The population of this study was civil servants and non-PNS employees who worked at the BLUD of the HM Djafar Harun Hospital, North Kolaka Regency, Southeast Sulawesi Province, namely 286 people who were selected based on Presidential Decree No. 77 of 2015. A Result the transparency dimension is formed by seven indicators and patient rights is the strongest indicator in forming the transparency dimension. In the accountability dimension, there are four indicators and the one that contributes the most to this dimension is the responsibility indicator. The dimension of responsibility has three indicators and the strongest in shaping this dimension are the indicators of obligation, ethics and rational decisions. The independence dimension is formed by five indicators and the strongest form of independence is the indicator of not having personal interests. In the fairness dimension, there are five indicators and the strongest form of this dimension is the cost balance indicator. Organizational culture in this study is composed of three indicators and the strongest in shaping this dimension are innovative and supportive. The performance in this study is composed of seven indicators, where the claim return indicator gives the greatest contribution to this variable. Good Corporate Governance based on the transparency dimension has an indirect effect on hospital performance in the JKN era. Good Corporate Governance based on the dimension of accountability has an indirect effect on hospital performance in the JKN era. Good Corporate Governance based on the dimension of responsibility besides having a direct influence is also a dimension that strengthens organizational culture on hospital performance in the JKN era. Good Corporate Governance based on the independence dimension has a direct effect on hospital performance in the JKN era. Good Corporate Governance based on the dimension of fairness has an indirect effect on hospital performance in the JKN era. Organizational culture directly has a significant effect on hospital performance.

Dimension of Governance on Microfinance Institutions in South Asian Countries (A Cross Country Study of Nepal and Bangladesh)

This research aims to empower Nepalese and Bangladeshi microfinance institutions (MFIs) to strengthen their microfinance governance. By contrasting the governance structures of MFIs in Bangladesh and Nepal, the study focuses on the corporate governance aspect of MFIs for sustainability. This study adopted an interpretive methodology and a qualitative research design. Internal control, timely internal audit, proper rules and regulations, institutional culture, full compliance with rules and regulations, budget and annual plan review, financial transparency, and board literacy education are the main dimension of corporate governance, broadly influencing MFIs for sustainability. The study found sustainability of MFIs is affected by proper guidelines for operation, effective internal control mechanisms, professional management, board literacy education, financial transparency, the rule of law in operation, institutional culture, and review of budget and achievement. The findings of the study might be applicable to the BFIs, MFIs, regulatory authorities, economist, HR analyst, and planners.

Training Network in the Literature from 2020 to 2023

In administrative-economic sciences, factor analysis models are essential for their explanatory capacity of institutional responses to a risk event. The objective of this document was to contrast a model that explains the emergence of corporate governance dimensions in the face of the pandemic. An exploratory study was carried out based on a systematic review of the literature from 2020 to 2023, considering the search by keywords in Google Scholar and Microsoft academic, as well as the experts from a public university in the center of Mexico. The results show that corporate identity explains the university’s response to the pandemic. In relation to the theory of corporate governance which explains the emergence of identity, reputation, and image in the face of a risky event, we have established the relationship between the three factors. The established three-dimensional model suggests the prevalence of identity as a central factor of corporate governance in the face of COVID-19.

Corporate Governance and Profitability of Manufacturing and Allied Firms Listed at the Nairobi Securities Exchange, Kenya

The study examined the effect of corporate governance on the profitability of manufacturing and allied firms listed at the Nairobi Securities Exchange, Kenya. The study was anchored by agency theory and stakeholder theory. Nine manufacturing and allied firms listed at the Nairobi Securities Exchange, Kenya constituted the target population and a census approach was adopted. The study found that board size had significant implications on the profitability of manufacturing and allied firms listed at the Nairobi Securities Exchange, Kenya (p= 0.009, β= -0.023). It was established that board independence is significant in predicting profitability (p= 0.011, β= -0.001). External audit quality had a significant effect on profitability (p= 0.001, β= 0.258). Institutional ownership was significant in determining profitability (p= 0.000, β= 0.002). The study recommends that listed manufacturing and allied firms should ensure that an effective board is constituted which is optimum in size. The study further recommends that a blended board should be ensured comprising of both executive and non-executive directors which reflects the level of independence of the board. It was also recommended that firms should ensure that a highly reputable external auditor is appointed. In addition, firms should strive towards having a higher proportion of institutional shareholding to outstanding shareholdings. Given the 53.53 percent unexplained variation in profitability, further studies on manufacturing and allied firms listed at the Nairobi Securities Exchange, Kenya can consider other corporate governance attributes.

The Attributes of Corporate Governance and Financial Reporting Quality of Listed Agricultural Firms in Nigeria

This study examined the relationship between the attributes of corporate governance and financial reporting quality. It made use of listed agricultural companies on the Nigeria stock exchange. This study is anchored on agency theory. Descriptive research design and secondary data extracted from the financial statement of the sampled companies were used. The dependent variable was financial reporting quality proxy by discretionary accruals; the independent variable was the attributes of corporate governance measured by board independence, board size, and board gender diversity while the control variable was firm size. The study used multiple regression analysis to analyze the data. It concluded that the attributes of corporate governance was negatively and significantly related to discretionary accruals i.e. a percentage increase in the attributes of corporate governance reduced discretionary accruals by 132%, thus improving the financial reporting quality. The study, therefore recommended that the attributes of corporate governance especially in agricultural companies listed on the Nigeria stock exchange should be increased.

Corporate Governance Attributes and Financial Performance of Listed Industrial Goods Companies in Nigeria

Corporate governance is the system by which the affairs of the companies are directed and controlled by those charged with the responsibility. The purpose of this study is to investigate the relationship between corporate governance attributes and the financial performance of listed industrial goods companies in Nigeria. The methodology adopted in this study was an ex -post facto research design. Secondary data from eleven (11) listed industrial goods companies in Nigeria for the period of eleven (11) years (2009-2019) was obtained based on the convenience sampling method. The statistical tools used were multiple regression analysis and Pearson’s product-moment correlation aided by the statistical package for social science (SPSS) version 22. The finding showed that corporate governance had a significant positive relationship with financial performance. Likewise, the board size, board composition and board member competence have a positive relationship with net profit margin. It was concluded that corporate governance attributes influence the financial performance of listed industrial goods companies in Nigeria. It was recommended among others that external auditors should be mandated to issue certificates of compliance with the code of corporate governance for public companies as it is obtainable in some countries like India. Likewise, Appraisal tools for regular monitoring of boards of directors should be developed to help create credibility in corporations in Nigeria. Competent outside directors with requisite experience should be appointed to the board at all times necessary.

Corporate Governance Attributes and Segment Reporting of Selected Conglomerates in Nigeria

Consolidated financial statement does not only conceal the performance of individual segments of the group but also hides the risk and opportunities that investors are exposed to by investing in those segments or subsidiaries. A balanced and effective board is a major determinant of financial reporting quality in terms of compliance with International Financial Reporting Standard. This study examined the effect of corporate governance attributes on segment reporting of listed conglomerates firms in Nigeria. Ex post facto research design was adopted for the study and five listed conglomerate firms were purposively selected. Secondary data were extracted from these companies’ annual reports and the Nigeria Exchange Group fact book. The data for the study was analyzed using OLS regression technique and the findings revealed that board size, board diligence and board gender diversity have significant positive effect on segment reporting measured by the number of reportable segments. Thus, it was concluded that corporate governance attributes have a significant effect on segment reporting. Based on the above, it was recommended that the size of the board of directors should be large and balanced enough to accommodate members with cognate experience, expertise and equity in the representation of female.