JOURNAL OF ACCOUNTING AND BUSINESS

THE EFFECT OF MANAGERIAL OWNERSHIP ON TOTAL COMPREHENSIVE INCOME REPORTING: EVIDENCE FROM LISTED NIGERIAN FINANCIAL FIRMS

MARYAM HARUNA, USMAN BABA ALIYU, ABDUL GARBA

February 13, 2026

Citation

JOURNAL OF ACCOUNTING AND BUSINESS , Vol. 13 (1) (2026) , pp. 20-28

Details

ISSN: 1596-9912
Published: February 13, 2026
Status: Published

Abstract

This study investigates the nexus between managerial ownership (MO)
and the reporting outcomes of Total Comprehensive Income (TCI)
among listed financial firms in Nigeria. Covering the period 2020–2024, the research examines how director equity stakes influence the
transparency of "Other Comprehensive Income" (OCI) components, such as unrealized gains/losses on financial assets and foreign
exchange revaluations. Using a panel data approach with fixed-effects
regression on 150 firm-year observations from financial firms listed on
the Nigerian Exchange Group (NGX), findings indicate an average TCI
of ₦17.98 million. Results show that managerial ownership has a
significant positive effect on TCI reporting quality, supporting the
interest-alignment argument of Agency Theory. However, the data
also suggests that excessive ownership leads to entrenchment, particularly during the 2024 currency volatility and recapitalization
cycles.