Financial Transparency and Financial Performance of Listed Manufacturing Firms in Nigeria

The study examined the effect of financial transparency on the performance of listed manufacturing firms in Nigeria. To achieve the objective of the study, descriptive research design was adopted. The data were collected through primary source with the aid of wellstructured questionnaire. The sample of the study was 250 respondents purposively selected from five listed manufacturing firms located in South East Nigeria. The data collected from these respondents were analyzed using multiple regression analysis and the following findings were revealed; (i) Ownership structure, board of directors and timeliness of information have positive and significant effect on profitability of listed manufacturing firms in Nigeria, (ii) Ownership structure, board of directors and timeliness of information have positive and significant effect on accountability of listed manufacturing firms in Nigeria and (iii) Ownership structure, board of directors and timeliness of information have positive and significant effect on sales growth of listed manufacturing firms in Nigeria. Based on the findings, the study recommends Since the result showed that financial transparency has positive and significant effect on firm’s profitability, it’s prudent for listed companies to disclose as much information as possible and also ensure that the information disclosed are transparent so as to minimize the level of information asymmetry and consequently stimulate financial performance. The companies can also take the control of financial performance of the company through using high proficiency, experienced and independent managers with the necessary legal power as a potentially powerful mechanism and to be a cause of improvement in the accountability of the company. Keywords: Financial, Transparency, Ownership Structure, Board of Directors and Information.