Effect of Financial Leverage on Voluntary Corporate Social Disclosure among Listed Firms on Nigerian Stock Exchange: A Study of Selected Manufacturing Firms

Segun idowu Adeniyi () and Helen Oluwatoyin Adebayo

Academic Journal of Economic Studies, 2018, vol. 4, issue 3, 18-24

Abstract: The study examines the effect of financial leverage on voluntary corporate social disclosure among selected listed manufacturing firms on the Nigerian Stock Exchange. The specific objectives of the study is to determine the effect of financial leverage on voluntary economic disclosure, voluntary social disclosure, voluntary environmental disclosure and the interaction of voluntary economic disclosure, voluntary social disclosure with voluntary environmental disclosure. The study employs ex-post facto design and secondary data. The study discovered that financial leverage does not significantly affect voluntary economic and environmental disclosure among selected listed manufacturing firms on Nigerian Stock Exchange. However, financial leverage significantly affects voluntary social disclosure among selected listed manufacturing firms on Nigerian Stock Exchange. The study recommends that firms should engage in voluntary corporate social disclosure no matter the level of their financial leverage.

Keywords: Financial leverage; economic disclosure; social disclosure; environmental disclosure; voluntary corporate social disclosure (search for similar items in EconPapers)
JEL-codes: H54 O16 (search for similar items in EconPapers)
Date: 2018
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:khe:scajes:v:4:y:2018:i:3:p:18-24

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