Assessing the Impact of Firm Attributes on Environmental Disclosure of Listed Industrial Goods Companies in Nigeria
DOI:
https://doi.org/10.61143/umyu-jafr.7(1)2024.015Keywords:
Environmental disclosure, Asset tangibility, Managerial ownershipAbstract
The study examines the impact of firms’ attributes on environmental disclosure of listed industrial goods companies in Nigeria using an annual panel dataset from 2014 to 2022. The study used fixed effect regression and the result reveals that there is no significant relationship between asset tangibility, profitability and environmental disclosure while there is positive and statistically significant relationship between Managerial ownership and environmental disclosure of listed industrial goods companies in Nigeria. The study recommends that, regulatory authorities should re-strategies and see how the firm will improve managerial ownership to increase environmental disclosure policies and make environmental disclosure a requirement for listing into the floor of Nigerian Exchange Group (NGX) also industrial good companies should strategize their shareholding policies by encouraging managerial shareholding this will boost their reputation and goodwill.
Metrics
References
Abubakar, A. A. (2017). Influence of firms attributes on environmental disclosure in listed brewery companies in Nigeria. Research Journal of Finance and Accounting, 8(5), 10-17.
Adeeko, B. (2015). Integrating sustainability in the Nigerian capital market. Nigerian Stock Exchange. http://www.nse.com.ng/NSEPresentation/Sustainability-in-the-Nigerian-Capital.pdf
Agboma, A. E. (2021). Firm characteristics and corporate social responsibility in Nigeria [Unpublished doctoral dissertation]. Igbinedion University.
Akbas, H. E. (2014). Company characteristics and environmental disclosure: An empirical investigation on companies listed on Borsa Istanbul 100 Index. Journal of Accounting & Auditing Research, 6(2), 45-62.
Akenroye, C. T., Bello, I. D., & Bosun-Fakunle, Y. F. (2022). Assets tangibility investment & operating business liquidity of listed companies in Nigeria. Journal of Innovative Research in Accounting and Sustainability, 7(4). ISSN: 2736-1381 (Print), ISSN 2736-1500 (Online).
Benjamin, U. D., Okpanachi, J., Nyor, T., & Muhammad, M. L. (2017). Effect of firm characteristics on environmental reporting practices of listed manufacturing firms in Nigeria. Nigerian Journal of Management Sciences, 6(1), 45-60.
Blessed, A. D., & Inuwa, F. M. (2019). Effect of corporate attributes on environmental disclosure of listed oil and gas companies in Nigeria. European Journal of Accounting, Auditing and Finance Research, 7(10), 32-47. https://doi.org/10.2139/ssrn.3498765
Chouaibi, J., Miladi, S., & Elouni, Z. (2022). Exploring the relationship between board characteristics and environmental disclosure: Empirical evidence for European firms. Accounting and Management Information Systems, 21(1), 51-76. https://doi.org/10.24818/jamis.2022.01003
Chowdhury, M. A. A., Dey, M., & Abedin, M. T. (2020). Firms' attributes and environmental disclosure: Evidence from listed firms in Bangladesh. Asian Journal of Accounting Perspectives, 13(2), 57-77. https://doi.org/10.22452/ajap.vol13no2.4
Chukuemeka, E., Ibanichuka, E. A., & Ofurum, C. O. (2021). Board characteristics and environmental disclosure of quoted oil and gas firms in Nigeria: The moderating role of firm size. International Journal of Innovative Finance and Economics Research, 9(4), 51-62.
Deinkuru, N. S., Charles, W. K., & Raimi, M. O. (2021). Spills in the Niger Delta region, Nigeria: Environmental fate of toxic volatile [Preprint]. Research Square. https://doi.org/10.21203/rs.3.rs-654453/v1
Duho, K. C. T. (2022). Intangibles, intellectual capital, and the performance of listed non-financial services firms in West Africa: A cross-country analysis. Merits, 2(3), 101-125. https://doi.org/10.3390/merits2030009
Egbejule, E. (2021, December 7). Niger Delta residents protested against month-long oil spill. Aljazeera. https://www.aljazeera.com/news/2021/12/7/niger-delta-youths-protest-against-month-long-oil-spill
Egbunike, A. P., & Tarilaye, N. (2017). Firm's specific attributes and voluntary environmental disclosure in Nigeria: Evidence from listed manufacturing companies. Academy of Accounting and Financial Studies Journal, 21(3), 1-15.
Elshabasy, Y. N. (2017). The impact of corporate characteristics on environmental information disclosure: An empirical study on the listed firms in Egypt. The International Conference on Business and Management Review, 8(5), 181-195.
Fabian, C., & Setiany, E. (2021). The firm characteristics and environmental disclosure of Southeast Asian countries. EPRA International Journal of Multidisciplinary Research (IJMR) - Peer Reviewed Journal, 6(2).
Hwang, Y. D., & Lin, Y. C. (2008). The performance evaluation of SCOR sourcing process - The case study of Taiwan's TFT-LCD industry. International Journal of Production Economics, 200. https://doi.org/10.1016/j.ijpe.2007.09.014
Ikaet, G., & Igbinovia, P. (2021). The effect of financial leverage on financial performance: Evidence of quoted pharmaceutical companies in Nigeria. IOSR Journal of Economics and Finance, 5(3), 7-25.
Irungu, B., Riyadh, H. A., Sukoharsono, E. G., & Alfaiza, S. A. (2018). The impact of corporate social responsibility disclosure and board characteristics on corporate performance. Cogent Business & Management, 6(1), 1647917. https://doi.org/10.1080/23311975.2019.1647917
Istiqoma, I., & Wahyuningrum, I. F. S. (2020). Factors affecting environmental disclosure in companies listed on the Tokyo Stock Exchange. Accounting Analysis Journal, 9(1), 22-29. https://doi.org/10.15294/aaj.v9i1.30019
Iyoha, F. O., & Igbinovia, L. E. (2023). Environmental information disclosures and value of agro-manufacturing firms in Nigeria. Nigerian Journal of Management Sciences, 24(1), 45-60.
Jafar, A., Kipngetich, T. J., & Khaled, D. (2021). Effect of firm-specific attributes on environmental disclosure: Evidence from firms listed in the Nairobi Securities Exchange, Kenya. African Journal of Education, Science & Technology, 5(4).
Jensen, M. C., & Meckling, W. H. (1976). Theory of the firm: Managerial behavior, agency costs and ownership structure. Journal of Financial Economics, 3, 305-360. https://doi.org/10.1016/0304-405X(76)90026-X
Kipngetich, T. J. (2020). Effect of firm-specific attributes on environmental disclosure: Evidence from firms listed in the Nairobi Securities Exchange, Kenya. African Journal of Education, Science & Technology, 5(4), 112-125.
Kogan, L., & Tian, M. (2012). Assessment of the relationship between leverage and performance: An empirical study of unlisted banks in Ghana. Journal of Economics and International Finance, 10(10), 123-133. https://doi.org/10.5897/JEIF2018.0920
Leadership Newspaper. (2022, October 5). Obajana Kogi indigenes protest over cement factory conflict. https://leadership.ng/obajana-kogi-indigens-protest-over-cement-factory-conflict/
Milne, F., & Patten, J. (2002). Impact of environmental disclosure on firm performance: The mediating role of green innovation. Revista de Contabilidad Spanish Accounting Review, 26(1), 14-26. https://doi.org/10.6018/rcsar.407921
Okoba, M., & Chukwu, G. J. (2023). Firm attributes and earnings quality of listed oil and gas companies in Nigeria. Research Journal of Finance and Accounting, 5(17), 10-17.
Olawin, O. (2023, January 24). Environmental hazard: Ogun communities cry out over Dangote Cement's proposed coal mining project. Daily Post. https://dailypost.ng/2023/01/24/environmental-hazard-ogun-communities-cry-out-over-dangote-cements-proposed-coal-milling-project/
Olurankinse, F., & Mamidu, A. I. (2021). Corporate characteristics and environmental disclosure quality in listed oil and gas companies in Nigeria. IOSR Journal of Business and Management, 23(11), 01-12.
Paramitha, S., & Rohman, A. (2014). Family governance and firm performance: Agency, stewardship, and capabilities. Family Business Review, 19(1), 73-87. https://doi.org/10.1111/j.1741-6248.2006.00063.x
Ponsian, B. N., Paramitha, B. W., & Rohman. (2021). Pengaruh karakteristik perusahaan terhadap environmental disclosure. Diponogoro Journal of Accounting, 3(3), 1-11. http://www.ejournal-s1.undip.ac.id
Sabo, B. (2020). Determinants of environmental accounting disclosure of listed oil and gas firms in Nigeria [Unpublished doctoral dissertation]. Ahmadu Bello University.
Salawu, M. A., Mamman, S., Dahiru, M. T., Ado, G., & Yunusa, N. (2021). Firm-specific attributes and environmental disclosure of listed oil and gas firms in Nigeria. Global Journal of Accounting, 7(1), 45-60.
Setiany, E. (2020). The firm characteristics and environmental disclosure of Southeast Asian countries. EPRA International Journal of Multidisciplinary Research, 6(2), 112-125.
Shuaibu, K. (2021). Firm characteristics and environmental disclosure quality of listed cement companies in Nigeria [Unpublished master's thesis]. Bayero University.
Shuaibu, K., Jikan-Jatum, A. M., Yusuf, A., & Muhammed, N. (2023). Corporate financial attributes and waste disposal cost disclosure of listed industrial goods companies in Nigeria. European Journal of Accounting, Auditing and Finance Research, 11(8), 27-45. https://doi.org/10.37745/ejaafr.2013/vol11n82745
Sulaiman, S. A., Aruwa, A. S., & Musa, K. K. (2018). Firm characteristics and environmental disclosure practices of listed oil and gas firms in Nigeria. Journal of Accounting and Management, 1(1), 45-60.
Wahab, A. O., Akinola, A. O., & Dare, T. C. (2022). Corporate attributes and financial performance of listed agricultural and agro-allied companies in Nigeria. International Journal of Accounting Research, 7(2), 103-111.
Wahyuningrum, I. F. S., Amal, M. I., & Shanty, O. (2022). Environmental disclosure and its determinants. Earth and Environmental Science, 1098(1), 012060. https://doi.org/10.1088/1755-1315/1098/1/012060
Zayol, D., Akpa, A., Tsegba, I. N., & Abraham, G. C. (2021). Firm characteristics and corporate environmental disclosure by less-sensitive listed companies in Nigeria. Ae-Funai Journal of Accounting, Business and Finance, 8(1), 45-60.
Downloads
Published
How to Cite
Issue
Section
License
Copyright (c) 2024 UMYU Journal of Accounting and Finance Research
This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.
