Environmental Conservation Cost and Corporate Performance of Quarry Companies in Nigeria: An Empirical Analysis

Abayomi O. Asubioojo, Muyiwa E. Dagunduro and Gbenga A. Falana
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Abayomi O. Asubioojo: Department of Accounting, Afe Babalola University Ado-Ekiti, Ekiti State, Nigeria.
Muyiwa E. Dagunduro: Department of Accounting, Afe Babalola University Ado-Ekiti, Ekiti State, Nigeria.
Gbenga A. Falana: Department of Accounting, Afe Babalola University Ado-Ekiti, Ekiti State, Nigeria.

International Journal of Research and Innovation in Social Science, 2023, vol. 7, issue 8, 49-63

Abstract: The pursuit of sustainable development has gained significant attention in recent years, emphasizing the need for businesses to integrate environmental conservation practices into their operations. Thus, this study examined the effect of environmental conservation costs on the corporate performance of quarry companies in Nigeria. This study employed a survey research design and data was sourced through the distribution of well-structured questionnaires. The population of the study comprised 682 accounting staff of quarry companies in the southwest of Nigeria. The sample size was 480 determined through a purposive sampling technique. The sourced data were analyzed using both descriptive and inferential statistics. It was found that research and development, legal, and regulatory compliance costs exhibited a significant positive relationship with the corporate performance of quarry firms in Nigeria. Restoration, monitoring, and evaluation, as well as training and engagement costs, exhibited a significant positive relationship with the corporate performance of quarry firms. It was concluded that when quarry companies prioritize allocating resources and attention to these areas it will enhance their overall performance. This study recommends that quarry companies should allocate more resources to research and development activities to foster innovation, improve operational efficiency, and stay competitive in the market.

Date: 2023
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