Firm Traits and Web Based Disclosures in Top Nigerian Firms

The use of the internet as a medium of dissemination of information to stakeholders is
\nincreasingly gaining grounds. This study extends existing literature on web disclosures by
\ninvestigating the characteristics that predict the extent of web-based disclosures. In this study,
\ncorporate websites of top Nigerian firms are used as sources of data, while a regression analysis is
\nemployed to examine the extent of prediction. Results indicate that the firm size and industry type are
\nsignificant determinants of web disclosures. However, other firm traits such as ownership dispersion
\nand financial performance do not significantly explain the extent of internet disclosures. The study
\nrecommends that a regulatory template for corporate web disclosures be put in place by government
\nregardless of the size or industry classification of the firm. This is with a view to considerably reduce
\nagency conflicts arising from information asymmetry in publicly listed firms in Nigeria.