Institutional and block holder ownership and audit quality of listed manufacturing firms in Nigeria

The results show that institutional ownership has negative and significant effect on audit quality while block-holder ownership has positive and significant effect on audit quality. This implies that institutional ownership reduces audit quality while block-holder ownership influences audit quality positively. The study conclude that both institutional and block-holder ownership affect audit quality and recommends that the proportion of shares acquired by institutions should be reviewed downward and that of block-holder ownership should be increased.