Chief Executive Officer Attributes and Disclosures in Africa
DOI:
https://doi.org/10.59890/mswrgc88Keywords:
Chief Executive, Officer Attributes, Disclosures in AfricaAbstract
This study looked into how the dynamics of chief executive officers affected the voluntarily disclosed information of a subset of South African and Nigerian industrial goods companies. The study employed a dependent variable, which was corporate social responsibility disclosure, and independent factors, which included the ownership, gender, country, and educational qualification and experience of chief executive officers. For 10 years, from 2012 to 2021, 26 listed industrial goods businesses from South Africa and Nigeria, two African countries, were used as a sample. The study employed both longitudinal and ex post facto research designs. The secondary source of information was the annual reports of the selected industrial products businesses that were listed on their respective exchange marketplaces. Four (4) specific goals and hypotheses were subjected to preliminary data tests, which included descriptive statistics, binary logit least regression analysis, variance inflation factor, Pearson correlation analysis, and histogram normality testing. CEO nationality had a positive and statistically insignificant influence on voluntary disclosure at the 5% level of significance, while CEO education and experience had a positive but negligible effect. Based on the findings, the report recommends, among other things, that listed industrial goods companies in Nigeria and South Africa ensure that long CEO tenures are supported among Nigerian enterprises and that the maximum three-year CEO tenure is discouraged among South African corporations. These recommendations should be supported by legislation and strictly adhered to. Again, we advise that managers of South African and Nigerian industrial goods companies should not appoint their chief executive officers based on the number of their shareholdings because they may not be willing to disclose voluntarily due to their access to privilege information.
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