Does Corporate Governance Impact Sustainability Reporting? Evidence from Top-Tier Deposit Money Banks in Nigeria

Abstract

This study explores the relationship between corporate governance and sustainability reporting among Nigeria's top-tier deposit money banks. The study used a quantitative approach whereby annual reports and websites of the top ten deposit money banks in Nigeria were assessed for sustainability disclosures from 2011 to 2020. Sustainability-related disclosures were analyzed using a content analysis technique. The study found that board size and independence both has a negative and insignificant relationship with sustainability disclosure of the banks but board gender diversity has a positive and insignificant relationship with sustainability disclosure. The study recommends, among others, that banks should increase the representation of women on their boards, as their presence increases the transparency of sustainability reporting.