FIRM CHARACTERISTICS AND SUSTAINABILITY REPORTING OF LISTED MANUFACTURING COMPANIES IN NIGERIA

Tiamiyu, Mariam Abosede (), Oyedokun, Godwin Emmanuel () and Adeyemo, Aderemi ()
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Tiamiyu, Mariam Abosede: Lecturer, Department of Accountancy, Postal: The Polytechnic, Ibadan, Nigeria.,, https://www.afarng.org/mjms/
Oyedokun, Godwin Emmanuel: Department of Management and Accounting, Faculty of Social and Management Sciences, Postal: Lead City University, Ibadan, Nigeria, , ,, https://www.afarng.org/mjms/
Adeyemo, Aderemi: Department of Management and Accounting, Faculty of Social and Management Sciences, Postal: Lead City University, Ibadan, Nigeria, https://www.afarng.org/mjms/

Multidisciplinary Journal of Management Sciences, 2021, vol. 3, issue 1, 1-18

Abstract: The campaign by arrays of stakeholders against environmental degradation arising from impact of organization production activities have increased the demand for sustainability reporting in recent years in view of its implications on the economy (business risk) and society at large. Similarly, the renewed agitation by stakeholders for comprehensive information capable of harnessing the interests of all stakeholders through social, economic and environmental factors have brought to limelight the need for sustainability reporting. Furthermore, the age long relevance and reliability hitherto attached to financial statement as medium of information on economic matters is fast declining due to its failure to capture non-financial information which may be crucial to the survival of the organization. The study is supported by legitimacy and stakeholders theories respectively. This study probes into relevant firm characteristics capable of enhancing sustainability disclosure to avert or minimize hazards associated with manufacturing firms in Nigeria. Data was collected from secondary sources but mainly from annual reports and accounts of selected manufacturing firms. Panel regression model was adopted for data analysis. The findings revealed that corporate governance (proxy by board size and board independence) affects sustainability reporting of listed manufacturing firms in Nigeria negatively. The study further established a positive association between firm growth and sustainability reporting while the study finds no statistical association between firm size and sustainability reporting. The study recommends that companies should restrain from acquiring additional assets while placing emphasis on managerial efficiency. More experts should be appointed into the corporate governance board for possible influence on managerial decisions. Lastly, firm performance should be enhanced through increase in revenue generation.

Keywords: Corporate governance; Environmental degradation; Firm characteristics; Legitimacy and Sustainability reporting (search for similar items in EconPapers)
Date: 2021
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Citations: View citations in EconPapers (1)

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