Skip to main content Skip to main navigation menu Skip to site footer
  • Register
  • Login
  • Language
    • English
    • Deutsch
    • Język Polski
    • Español (España)
    • Italiano
    • Français (Canada)
    • Čeština
    • Français (France)
    • Hrvatski
    • Srpski
    • Українська
  • Menu
  • Home
  • Current
  • Archives
  • Announcements
  • About
    • About the Journal
    • Submissions
    • Editorial Team
    • Privacy Statement
    • Contact
  • Register
  • Login
  • Language:
  • English
  • Deutsch
  • Język Polski
  • Español (España)
  • Italiano
  • Français (Canada)
  • Čeština
  • Français (France)
  • Hrvatski
  • Srpski
  • Українська

Copernican Journal of Finance & Accounting

BOARD ETHNICITY AND SUSTAINABILITY REPORTING
  • Home
  • /
  • BOARD ETHNICITY AND SUSTAINABILITY REPORTING
  1. Home /
  2. Archives /
  3. Vol. 11 No. 1 (2022) /
  4. Articles

BOARD ETHNICITY AND SUSTAINABILITY REPORTING

Authors

  • Hope Osayantin Aifuwa University of Benin & Edo State Internal Revenue Service https://orcid.org/0000-0001-8908-6637
  • Muhammed Kamaldeen Usman Kwara State University https://orcid.org/0000-0002-4303-840X
  • Muhammed Lawal Subair Kwara State Polytechnic https://orcid.org/0000-0002-3158-696X
  • Gideon Temidayo Philip Samuel Adegboyega University https://orcid.org/0000-0002-4104-1197
  • Kerimu Hussien University of Benin https://orcid.org/0000-0003-1727-0077

DOI:

https://doi.org/10.12775/CJFA.2022.001

Keywords

HAUSA, YORUBA, IGBO, MINOR, sustainability reporting

Abstract

The aim of this study is to investigate the relationship between board ethnicity and sustainability reporting of listed deposit money banks in Nigeria from the period 2013–2020. The study examined the impact board members’ interaction from major and minor ethnic groups have on the sustainability reporting of listed deposit money banks. Secondary data was collected from annual reports and account of listed deposit money banks from the Nigeria Stock Exchange website. Results from the panel least squares regression revealed that the proportion of directors from HAUSA ethnic group have a positive influence on sustainability reporting; while the proportion of directors from YORUBA ethnic group negatively affects sustainability reporting. Furthermore, on the example of major and minor ethnic groups, it was found that the presence of directors from HAUSA and YORUBA ethnic groups; and HAUSA, YORUBA, IGBO and MINOR ethnic groups have negative and significant impact on sustainability reporting of listed deposit money banks in Nigeria. The study concluded that banks should employ the services of directors from both major and minor ethnic groups to improve the extent of sustainability reporting. Also, financial institutions, specifically deposit money banks should increase the representation of directors from IGBO and MINOR ethnic groups.

References

Aifuwa, H.O. (2020). Sustainability reporting and firm performance in developing climes: A review of literature. Copernican Journal of Finance & Accounting, 9(1), 9–29. http://dx.doi.org/10.12775/CJFA.2020.001.

Aifuwa, H.O. (2021). Board diversity and sustainability reporting in Nigeria. Proposal Paper, Department of Accounting, Faculty of Management Sciences, University ofBenin, Nigeria.

Anderson, R.C., Reeb, D.M., Upadhyay, A., & Zhao, W. (2011). The economics of director heterogeneity. Financial Management, 40(1), 5–38. http://dx.doi.org/10.1111/j.1755-053X.2010.01133.x.

Bakar, A.B.S.A., Ghazali, N.A.B.M., & Ahmad, M.B. (2019). Sustainability reporting and board diversity in Malaysia. International Journal of Academic Research in Business and Social Sciences, 9(2), 1044–1067.

Barney, J. (1991). Firm resources and sustained competitive advantage. Journal of Management, 17(1), 99–120. http://dx.doi.org/10.1177/014920639101700108.

Biggins, J.V. (1999). Making board diversity work. Corporate Board, 20(117), 11–17.

Butler, S.R. (2012). All on board! Strategies for constructing diverse boards of directors. Virginia Law & Business Review, 7(1), 61–96.

Carter, D.A., Simkins, B.J., & Simpson, W.G. (2003). Corporate governance, board diversity, and firm value. Financial Review, 38, 33–53.

Carter, D.A., D’Souza, F., Simkins, B.J., & Simpson, W.G. (2008). The diversity of corporate board committees and firm financial performance. SSRN Electronic Journal, 15. http://dx.doi.org/10.2139/ssrn.1106698.

Edewo, P.A., Aluko, Y.A., & Folarin, F. (2014). Managing Ethnic and Cultural Diversity for National Integration in Nigeria. Developing Country Studies, 4(6), 70–76.

Fitzsimmons, S.R. (2013). Multicultural employees: a framework for understanding how they contribute to organizations. Academy of Management Review, 38(4), 525–549. http://dx.doi.org/10.5465/amr.2011.0234.

Garba, T., & Abubakar, B.A. (2014). Corporate board diversity and financial performance of insurance companies in Nigeria: An application of panel data approach. Asian Economic and Financial Review, 4(2), 257–277.

Global Reporting Initiative (2019). What is Sustainability reporting, https://www. gri.org.

Gold, N.O., Aifuwa, H.O., Usman, M.K., Subair, M.L., Osazevbaru, A., & Oloyede, B.M. (2021). Board members’ education diversity and sustainability reporting. Annals of Spiru Haret University. Economic Series, 21(1), 109–129. http://dx.doi.org/10.26458/2115.

Ilaboya, O.J., & Ashafoke, T. (2017). Board diversity and firm performance in Nigeria. International Journal of Management, Accounting and Economics, 4(10), 1002–1019.

Ilogho, C.O. (2017). Effects of board nationality and ethnic diversity on the financial performance of listed firms in Nigeria. M.Sc. Dissertation in the Department of Accounting, Covenant University, Ota, Ogun State.

Ismail, A.M., & Latiff, I.H.M. (2019). Board diversity and corporate sustainability practices: Evidence on environmental, social and governance (ESG) reporting. International Journal of Financial Research, 10(3), 31–50. http://dx.doi.org/10.5430/ijfr.v10n3p31.

Iyafekhe, C., Imagbe, V.U., & Odu, V. (2020). Board education diversity and sustainability reporting of listed deposit money banks in Nigeria. Management Science Review, Journal of the Faculty of Management Sciences, 11(1), 202–229.

Marimuthu, M., & Koladaisamy, I. (2009). Ethnic and gender diversity in board of directors and their relevance to financial performance of Malaysian companies. Journal of Sustainable Development, 2(3), 139–148.

Musa, S., Gold, N.O., & Aifuwa, H.O. (2020). Board diversity and sustainability reporting: Evidence from industrial goods firms. Izvestiya Journal of Varna Universityof Economics, 64(4), 337–398.

Okolie, A.O., & Igaga, C.A. (2020). Sustainability reporting and financial performance of deposit money banks in Nigeria. International Business & Economics Studies, 2(2), 68-87. http://dx.doi.org/10.22158/ibes.v2n2p68.

Omoye, S.A., & Eriki, P.O. (2013). Diversity in board ethnicity and firm performance: an empirical investigation of selected quoted firms in Nigeria. African Journal of SocialSciences, 3(4), 35–45.

Pelled, L.H., Eisenhardt, K.M., & Xin, K.R. (1999). Exploring the black box: An analysis of work group diversity, conflict and performance. Administrative Science Quarterly, 44, 1–28.

Peck, R., Olsen, C., & Devore, J. (2008). Introduction to statistics and data analysis. London: Cengage Learning.

Randolph, W.A., & Dess, G.G. (1984). The Congruence Perspective of Organization Design: A Conceptual Model and Multivariate Research Approach. Academy of Management Review, 9, 114–127. http://dx.doi.org/10.2307/258238.

Salawu, R. (2010). Ethno-Religious Conflicts in Nigeria: Causal Analysis and Proposals for New Management Strategies. European Journal of Social Sciences, 13(3), 345–353.

Shamil, M.S., Shaikh, J.M., Ho, P., & Krishnan, A. (2014). The influence of board characteristics on sustainability reporting Empirical evidence from Sri Lankan firms. Asian Review of Accounting, 22(2), 78–97.

Smith, N., Smith, V., & Verner, M. (2006). Do women in top management affect firm performance A panel study of 2,500 Danish firms. International Journal of Productivity and Performance Management, 55(7), 569–593. http://dx.doi.org/10.1108/17410400610702160.

Studenmund, A.H. (2014). Using econometrics: A practical guide (6th ed.). Harlow: Pearson Education Limited.

Tajfel, H. (1974). The social identity of intergroup behaviour. International Social Science Council, 13(2), 65–93.

Umukoro, O.E., Uwuigbe, O. R., Uwuigbe, U., Adegboye., A., Ajetunmobi, O., & Nwaze, C. (2019). Board expertise and sustainability reporting in listed banks in Nigeria. International Conference on Energy and Sustainable Environment, 331, 012048. http://dx.doi.org/10.1088/1755-1315/331/1/012048.

Ujunwa, A., Okoyeuzu, C., & Nwakoby, I. (2012). Corporate board diversity and firm performance: evidence from Nigeria. Review of International Comparative Management, 13(4), 605–620.

Uwuigbe, O.R., Uwuigbe, U., Jafaru, J., Igbinoba, E.E., & Oladipo, O.A. (2016). Value relevance of financial statements & share price: A study of listed banks in Nigeria. Banks and Bank Systems, 11(4), 135–143.

Watson, E., Kumar, K., & Michaelsen, L. (1993). Cultural diversity’s impact on interaction process and performance: Comparing homogeneous and diverse task groups. Academy of Management Journal, 36(3), 590–603. http://dx.doi.org/10.5465/256593.

Zahra, S.A., & Stanton, W.W. (1988).The implication of board of directors’ composition for corporate strategy and value. International Journal of Management, 5(2), 229–236.

Zhang, L. (2012). Board demographic diversity, independence, and corporate social Performance. Corporate Governance: The International Journal of Business in Society,12(5), 686–700.

Copernican Journal of Finance & Accounting

Downloads

  • PDF

Published

2022-06-20

How to Cite

1.
OSAYANTIN AIFUWA, Hope, KAMALDEEN USMAN, Muhammed, LAWAL SUBAIR, Muhammed, TEMIDAYO PHILIP, Gideon & HUSSIEN, Kerimu. BOARD ETHNICITY AND SUSTAINABILITY REPORTING. Copernican Journal of Finance & Accounting [online]. 20 June 2022, T. 11, nr 1, s. 9–27. [accessed 20.3.2023]. DOI 10.12775/CJFA.2022.001.
  • PN-ISO 690 (Polish)
  • ACM
  • ACS
  • APA
  • ABNT
  • Chicago
  • Harvard
  • IEEE
  • MLA
  • Turabian
  • Vancouver
Download Citation
  • Endnote/Zotero/Mendeley (RIS)
  • BibTeX

Issue

Vol. 11 No. 1 (2022)

Section

Articles

License

Creative Commons License

This work is licensed under a Creative Commons Attribution-NoDerivatives 4.0 International License.

Stats

Number of views and downloads: 321
Number of citations: 0

Search

Search

Browse

  • Browse Author Index
  • Issue archive

User

User

Current Issue

  • Atom logo
  • RSS2 logo
  • RSS1 logo

Information

  • For Readers
  • For Authors
  • For Librarians

Newsletter

Subscribe Unsubscribe

Language

  • English
  • Deutsch
  • Język Polski
  • Español (España)
  • Italiano
  • Français (Canada)
  • Čeština
  • Français (France)
  • Hrvatski
  • Srpski
  • Українська

Tags

Search using one of provided tags:

HAUSA, YORUBA, IGBO, MINOR, sustainability reporting
Up

Akademicka Platforma Czasopism

Najlepsze czasopisma naukowe i akademickie w jednym miejscu

apcz.umk.pl

Partners

  • Akademia Ignatianum w Krakowie
  • Akademickie Towarzystwo Andragogiczne
  • Fundacja Copernicus na rzecz Rozwoju Badań Naukowych
  • Instytut Historii im. Tadeusza Manteuffla Polskiej Akademii Nauk
  • Instytut Kultur Śródziemnomorskich i Orientalnych PAN
  • Karmelitański Instytut Duchowości w Krakowie
  • Państwowa Akademia Nauk Stosowanych w Krośnie
  • Państwowa Akademia Nauk Stosowanych we Włocławku
  • Państwowa Wyższa Szkoła Zawodowa im. Stanisława Pigonia w Krośnie
  • Polskie Towarzystwo Ekonomiczne
  • Polskie Towarzystwo Ludoznawcze
  • Towarzystwo Miłośników Torunia
  • Towarzystwo Naukowe w Toruniu
  • Uniwersytet im. Adama Mickiewicza w Poznaniu
  • Uniwersytet Mikołaja Kopernika
  • Uniwersytet w Białymstoku
  • Uniwersytet Warszawski
  • Wojewódzka Biblioteka Publiczna - Książnica Kopernikańska
  • Wyższe Seminarium Duchowne w Pelplinie / Wydawnictwo Diecezjalne „Bernardinum" w Pelplinie

© 2021- Nicolaus Copernicus University Accessibility statement Shop