Submit your papersSubmit Now
For Enquiries: [email protected]
IIARD LogoIIARD

Web Based Environmental Disclosure and Financial Performance of Quoted Firms in Nigeria

Onuora, J. K. J. PhD, Obiora Fabian. PhD & Atusiaka Chidimma I.

Abstract

This study was carried out to examine the relationship between web based environmental disclosure and financial performance of quoted firms in Nigeria. In order to determine the relationship between web based environmental disclosure (WED) and financial performance, web based environmental disclosure was proxy using Kinder Lydenberg Domini (KLD) social- environmental performance rating system while financial performance on the hand was proxy using net assets per share (NAPS). The study adopted Ex Post Facto Design and data were collected from the annual reports and accounts of consumer goods firms in Nigeria spanning from 2016-2021. The study employed OLS regression model as a statistical test tool. The findings of the study indicate that web based environmental disclosure (WED) has significant and positive relationship with financial performance (NAPS) of quoted firms in Nigeria at 1% significant level. Thus, the study concludes that web based environmental disclosure ensures firms performance in Nigeria. Hence, the study recommended that the management of environmentally-sensitive firms in Nigeria should sustain and enhance environmental sustainability reporting since it has positive and significant relationship with financial performance.

Keywords

Environmental DisclosureFinancial PerformanceNet Assets Per Share.

References

Almaliki, Y. (2020). Impact of green accounting on improving environmental cost and performance; An analytical study from an academic post. International Journal of Engineering Technology Research and Management, 4(3), 127-143 Brockman, T. (2015). Social corporate disclosure and firms performance, evidence from list manufacturing firms’ in Italy, Journal of Science, 4(9), 45-52. Chinwe, A. S. (2013). The impact of environmental pollution in Imo State: a case study of Okigwe local government area. Journal of Educational and Social Research, 3(5), 79-79. Dike, W., & Micah, C. (2018). Environmental accounting practices and sustainability development in Nigeria. Scholars Journal of Economics, Business and Management, 5(6), 505-512 Dwivedi (2002). Determinants of weaknesses in internal control over financial reporting and the implications for earnings quality. Working paper. Eriki, P. O. & Osagie, O. G. (2017). Capita) structure and bank's performance in Nigeria, Management Sciences Review, 5(1& 2), 7-22 Freeman, H. (1983). Stakeholders theory; theoretical perspective, New York: Harper and Row Inc. Ijeoma, N. B. (2015). Evaluation of companies environmental practice based in Nigeria. Social and Basic Sciences Research Review, 3(7), 349-364. Jayanti, R. K., & Gowda, M. V. R. (2014).Sustainability dilemmas in emerging economics.11MB Management Review. 26(14), 130 – 142 Jenkins, H. (2009). A business opportunity model of corporate social responsibility for small and medium-sized enterprises. Business ethic: A European Review 18 (1), 21-36. Kanwal, M., Khanam F., Nasreen S., & Hameed S. (2013). Impact of corporate social responsibility on the firm's financial performance. IOSR Journal of Business and Management, 14(5) 67-74. Khan, M. A., & Ghouri, A. M. (2011). Environmental pollution: Its effects on life and its remedies. Journal of Arts, Science & Commerce, 2(2), 276-285. Nahiba, M (2017). Non financial disclosures and performance of manufacturing firms in India, Journal of Empirical Literature, 7(9), 21-29. Nwaiwu, J. N. & Oluka, N. O. (2018). Environmental cost disclosure and financial performance of oil and gas in Nigeria. International Journal of Advanced Academic Research Financial Management 4(2),1-23. Obara, L., & Nangih, E. (2017). Tax compliance barriers and internally generated revenue in Nigeria: Empirical from small and medium enterprises in Portharcourt Metropolis. International Journal of Academic Research in Accounting, Finance and Management Sciences, 7(4) Okoye, E., & Ndum, N. (2020). Effect of sustainability reporting on economic value added of manufacturing firms listed on Nigerian Stock Exchange. Journal of Economic, Management and Trade, 26(10), 15-33 Olowolaju, P., & Adelola, F. (2020). Effect of corporate social responsibility on profitability of selected quoted banks in Nigeria. International Journal of Economics, Business and Management Research, 4(7), 15-29 Omaliko, E., & Nwadialor, E., & Nweze, A. (2020). Effect of non-financial disclosures on performance of non-financial firms in Nigeria. Journal of Accounting and Financial Management, 6(1), 16-39 Omaliko, E., & Nweze, A., & Nwadialor, E. (2020). Effect of social and environmental disclosures on performance of non-financial firms in Nigeria. Journal of Accounting and Financial Management, 6(1), 40-58 Omaliko, E., & Okpala, A. (2020). Effect of environmental disclosures on dividend payout of firms in Nigeria. International Journal of Banking and Finance Research, 6(3), 14-28 Omaliko, E., & Okpala, E. (2020). Effect of financing mix on financial performance of health care firms in Nigeria. International Journal of Banking and Finance Research, 6(3), 63-77 Omaliko, E., Okeke, P., & Obiora, F. (2021). Impact of covid-19 pandemic on liquidity and profitability of firms in Nigeria. International Journal of Academic Research in Business and Social Sciences, 11(3), 1331-1344 Omaliko, E., Uzodimma, A., & Ogbuagu, N. (2018). Comparative analysis of environmental disclosures in oil and gas industries in Nigeria: A study of selected oil and gas industries on the Nigerian stock exchange. World Educators Forum, 10(1), 1-13 Onipe, A. (2018). Environmental reporting practices in Nigeria: Are clouds darker or fairer in the manufacturing industry. International Journal of Social Sciences and Humanities Studies, 11(2), 39-60 Ordu, P., Amah, C. (2021). Environmental accounting and financial performance of oil and gas companies in Nigeria. International Journal of Innovative Finance and Economics Research, 9(1), 182-197 Osemene, O.F., Kolawole, K.D., & Oyelakun, O. (2016). Effects of environmental accounting practices and sustainable development on the performance of Nigerian listed manufacturing companies. Journal of Sustainable Development in Africa, 18(2), 128-143. Oti, P. A., & Mbu-Ogar, G. B. (2018). Analysis of environmental and social disclosure and financial performance of selected quoted oil and gas companies in Nigeria (2012-2016). Journal of Accounting and Financial Management, 4 (2), 1 – 12. Torugsa, A., O?Donohue, W., & Hecker, R. (2012) Capabilities, proactive CSR and financial performance in SMEs: Empirical evidence from an Australian manufacturing industry sector. Journal Business Ethics, 109, 483-500 Uwuigbe U. (2011). Corporate environmental reporting practices: A comparative study of Nigerian and South African firms. PhD Thesis, Covenant University.

More Articles from IIARD INTERNATIONAL JOURNAL OF ECONOMICS AND BUSINESS MANAGEMENT