Abstract:

This study examines the impact of firm characteristics on timeliness of financial reporting of listed financial services firms in Nigeria 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 random sampling technique, sample size of fifty (50) companies was selected. Data for the study was sourced from the corporate annual reports and websites of the selected firms quoted on the Nigerian Stock Exchange from 2012 to 2018. Findings 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 attribute that affect timely reporting of financial report in order to reduce delay.