Firm Characteristics and Timeliness of Financial Reporting of Listed Nigerian Financial Services Companies

The study investigates the effect of firm characteristics on timeliness of financial reporting of listed Nigerian financial services companies between 2012 to 2018. The study makes a substantive methodological advancement in the measurement of timeliness of financial reporting by adopting the regulatory requirement instead of the financial reporting lag and audit reporting lag. The study population comprises of fifty-seven quoted firms listed on the financial sector of the Nigerian Stock Exchange as at 31st December 2018. Using purpose sampling technique, sample size of fifty (50) companies was selected. Data was obtained from corporate annual reports and websites of the selected firms listed on the NSE from 2012 to 2018. Results from the study reveals that a significant relationship exists between firm characteristics and timeliness of financial reporting of listed financial services firms in Nigeria. This implies that the composition of the firm characteristics affects the timeliness of financial reporting. The study therefore recommend that regulatory agencies and standard setters should take into cognisance the firms attributes that affect timely reporting of financial report in order to reduce delay.