Abstract
This study examined the effect of board characteristics on integrated financial disclosure among
listed industrial goods firms in Nigeria. Using a quantitative research design, data were
collected from annual reports and integrated disclosures of ten purposively selected firms from a
population of thirteen listed companies on the Nigerian Stock Exchange. The study employed
multiple regression analysis to assess the relationship between board characteristics, including
board size, independence, gender diversity, and expertise, and disclosure of financial, human,
and intellectual capital. The findings indicated that board size and gender diversity significantly
and positively influenced all forms of capital disclosure, suggesting that larger and more diverse
boards enhanced transparency and reporting quality. Board independence exhibited mixed
effects, showing no significant impact on financial capital disclosure while negatively affecting
human and intellectual capital reporting. The study concluded that effective board composition,
particularly adequate board size and gender diversity, played a crucial role in enhancing
integrated financial disclosure, while excessive independence could limit engagement with non
financial reporting. Based on these results, the study recommended that industrial goods firms
maintain well-sized, gender-diverse boards, balance board independence with active oversight,
and implement capacity-building initiatives to strengthen disclosure practices. Policymakers and
regulators were also advised to promote disclosure frameworks supporting human and
intellectual capital reporting, particularly for older firms, to improve transparency and
accountability in corporate reporting.