CORPORATE GOVERNANCE CODES AND INTELLECTUAL CAPITAL DISCLOSURE (ICD) OF LISTED BANKS IN NIGERIA

Abstract

Since the corporate global scandal of early 2000 underscore the need for firms all over the world to re-examine their Corporate Governance-COG codes and conducts. This increased scholarly debate spurred the need to examine the contribution of corporate governance codes to Intellectual Capital Disclosure-ICD. The content analysis approach was used to generate data used for the panel regression (random effect model).  The study adopted the panel regression (random effect model) confirmed that, Accountability (ACT), Leadership Effectiveness (LEF), Remuneration Packages (REP), and Shareholder’s Relationship (SHR) has a positive yet considerable (significant) effect on ICD. By implication, the higher the Accountability (ACI), Leadership Effectiveness (LEF), Remuneration Packages (REP), and Shareholder’s Relationship (SHR), the more Nigerian banks disclose intellectual capital. Hence, the paper concludes that, corporate governance-COG codes improve ICD of banks in Nigeria provided that, shareholders relationship is harmonious. In light of the researcher’s findings, the paper recommend that,  for regulators of the Nigerian banking industry to ensure that, the board of directors-BoDs of DMBs in Nigeria is accountable, they must ensure that, the board of directors-BoDs should make annual disclosures to shareholders that represent a fair, accurate and comprehensive assessment of the corporation's positions and corporate outlook. Lastly, regulators of the Nigerian banking industry should ensure that, efficient bank managers are rewarded dully while inefficient bank managers should be punished accordingly. This will serve as a deterrent to others.

Keywords: Corporate Governance Codes, Intellectual Capital Disclosure (ICD), Listed Banks.