ABSTRACT
The study examined the impact of corporate governance mechanisms on corporate social responsibility disclosure (CSRD) in Nigeria. It specifically investigated the impact of board size, board independence, board gender diversity and audit committee size on the level of CSRD among Nigerian listed companies.
The study adopted the ex-post facto research design. The sample consisted of eighty-nine (89) non-financial companies listed on the Nigerian Stock Exchange (NSE) between the periods of six-financial years (2013-2018). The secondary data was extracted from the published annual reports and accounts of the sampled companies. The data was analysed using descriptive statistics, correlation analyses and panel regression analysis. The result showed an average CSRD of about 29%. It was also observed that disclosures on community involvement such as donations to charity, NGOs, sponsorships and scholarships dominated the larger proportion of CSRD among the sample, while disclosures on environmental policies, projects and energy policies were the least disclosed.
The outcome of the regression showed that only board size and board gender diversity significantly influenced CSRD, while board independence and audit committee size were not statistically significant. The study recommends, among others, that firms should maintain a minimal number of board members in order to foster quicker decisions as regards disclosure policies. It was also recommended that companies should increase the proportion of women involvement both in the board and in the decision making processes of the organisation.
