IIARD International Institute of Academic Research and Development

Journal of Accounting and Financial Management (JAFM )

E-ISSN 2504-8856
P-ISSN 2695-2211
VOL. 9 NO. 7 2023
DOI: https://doi.org/10.56201/jafm.v9.no7.2023.pg37.55

---

Effect of Sustainability Reporting on Financial Performance of Quoted Pharmaceutical Companies in Nigeria

Aniagboso Ifeoma. C, Orjinta Hope Ifeoma (Ph.D)

---

Abstract

The thrust of this study was to ascertain the effect of sustainability reporting on financial performance of quoted pharmaceutical companies in Nigeria for a period of ten (10) years spanning from 2012 to 2021. Ex-post facto and longitudinal research design was adopted. Sustainability disclosure which is the independent variable was captured using employee health and safety disclosure, social disclosure, environmental disclosure, and governance disclosure while financial performance which served as the dependent variable was measured using return on investment (ROI). Panel data were obtained from annual reports and accounts of the sampled health care companies and subjected to preliminary data tests such as descriptive analysis, correlation analysis, variance inflation factor analysis and hausman effects tests for the study period. Multiple panels least regression analysis was employed via E-Views 12. The results of the tested hypotheses revealed that employee health and safety disclosure, and social disclosure have positive and significant effect on financial performance of health care companies in Nigeria which was statistically significant at 95% confidence level respectively while a negative but insignificant effect was documented against environmental disclosure, governance disclosure and financial performance of health care companies in Nigeria. In conclusion, the findings shed light on the substitute and complementary relationship between performance and the increase in sustainability disclosure quality.

keywords:

Sustainability Reporting; Employees Health and Safety Disclosure; Social Disclosure; Environmental Disclosure; Governance Disclosure

---

References:

Chikwendu, O. U., Okafor, G. O., & Jesuwunmi, Caleb. D. A(2023) Effect of Sustainability
Reporting on Nigerian Listed Companies Performance 1(1) Canadian Contemporary
Research Journal.

Ezeokafor, F. C .&Amahalu, N. N.(2019) Effect Of Sustainability Reporting On Corporate
Performance Of Quoted Oil And Gas Firms In Nigeria. Journal of Global Accounting
Department of Accountancy Vol. 6(2) ISSN: 1118-6828.

Global Reporting Initiative (2011). Sustainability Reporting Guidelines: G3.1 version, Retrieved
from http://globalreporting.org on 10th June, 2019.

Ihimekpen, A.F.(2021) Sustainability Reporting And Financial Performance Of Listed Non-
Financial Companies In Nigeria. Thesis Submitted To The Department Of Accounting,
School Of Post Graduate Studies In Partial Fulfilment Of The Requirement For The
Award Of Doctor Of Philosophy (Ph.D In Accounting) In Igbinedion University, Okada,
Okada, Edo State, Nigeria

DOWNLOAD PDF

---

Back