Relationship Between Board Characteristics and Level of Corporate Disclosure Among Listed Companies in Tanzania


  • Michael Josephat Mwacha
  • Abdiel Abayo
  • Gwahula Raphael



Corporate disclosure, board characteristics, Board size, Directors Remuneration


This paper examined the relationship between board characteristics and Level of corporate Disclosure (LCD) among Tanzanian listed companies. Relationships between board size, board independence; directors’ remuneration and LCD were examined. The 105 firm-year observations for 21 listed companies in Tanzania from 2016 to 2020 were used. The study used the agency theory. An explanatory research design was employed. Balanced panel data for analysis were gathered using a survey method. Data were analyzed using descriptive and inferential statistics. Regression analysis was used in testing hypotheses. Findings showed that board size, board independence, directors’ remuneration were positively related to LCD. It was recommended that listed companies should appoint a higher proportion of independent directors to their boards. Independent directors can provide impartial oversight and are more likely to prioritize transparency and disclosure. Companies are adviced to optimize board size aim for a board size that is appropriate for their specific needs and industry. Moreover, listed companies should adopt transparent and fair director remuneration practices. This includes disclosing the structure of director compensation, including; salaries, bonuses, stock options, and other benefits. Policymakers and regulators should consider implementing or strengthening regulations related to board composition, independence, and disclosure practices.

Author Biographies

Michael Josephat Mwacha

Department of Accounting and Finance, The Open University of Tanzania, Tanzania

Abdiel Abayo

Tumaini University Dar es salaam  Campus

Gwahula Raphael

Department of Accounting and Finance, The Open University of Tanzania, Tanzania