The Value Relevance of Environmental Responsibility Information Disclosure in Nigeria

Victor Chiedu Oba (), Musa Inuwa Fodio () and Benedict Soje ()
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Victor Chiedu Oba: Nasarawa State University Keffi, Nigeria
Musa Inuwa Fodio: University of Abuja, Nigeria
Benedict Soje: USalem University, Kogi State, Nigeria

Acta Universitatis Danubius. OEconomica, 2012, issue 8(6), 99-112

Abstract: Nigeria firms are facing the challenge of discharging sound environmental practices and disclosing environmental information in order to meet up with public concerns regarding these issues. This study basically investigates the association between environmental responsibility information disclosure and financial performance. To achieve the objective of this study, eighteen listed firms were randomly selected from four environmentally sensitive industries for the year 2005 – 2009. Using the ordinary least square and logistic regression to test the research proposition, the study observed that there is a positive significant association between environmental responsibility and financial performance and vice versa. Additionally, foreign directors were found to play significant roles in these interactions. The paper therefore calls for an embrace of sound environmental policies and disclosure practices by Nigerian firms and also recommends further research into associated explanatory factors and disclosure practices.

Keywords: social responsibility; environmental impact; sustainability; firms (search for similar items in EconPapers)
Date: 2012
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Citations: View citations in EconPapers (4)

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Persistent link: https://EconPapers.repec.org/RePEc:dug:actaec:y:2012:i:6:p:99-112

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