INTERNATIONAL JOURNAL OF ACCOUNTING, FINANCE AND TAXATION

This research explores the relative efficacy of two basic elements of corporate governance board composition and resources versus board diligence and activity in driving Digital Financial Reporting (DFR) disclosure among Nigerian listed firms. The study examined longitudinal data from 2012 to 2023 using a theoretical framework that combines Resource Dependence Theory (RDT) and Signalling Theory. The results of panel multiple regression consistently demonstrate that the main drivers of transparency are governance mechanisms that provide structural resources and legitimacy: Board Size (beta = 0.005, p < 0.001), Board Gender Diversity (beta = 0.002, p = 0.003), and Board Independence (beta = 0.003, p = 0.016) all show a strong, positive, and significant influence on DFR adoption. Board meetings, a proxy for diligence, on the other hand, exhibit a negative and statistically negligible effect (beta = -0.001, p = 0.067), indicating that activity alone does not result in a better digital disclosure approach. Additionally, DFR is adversely affected by Financial Gearing (Leverage), which is a major external restriction (beta = -0.002, p = 0.002). The results provide important policy recommendations for improving corporate accountability in emerging countries, concluding that the board's composition quality is a better indicator of proactive digital transparency than its activity level.