The Impact of Environmental and Social Disclosures on the Financial Performance of Oil and Gas Companies in Nigeria
Journal Title: The Millennium University Journal - Year 2019, Vol 4, Issue 1
Abstract
This paper critically examines the effect of environmental and social disclosures on the financial performance of oil and gas companies in Nigeria. The study is crucial as it describes the level of environmental and social disclosures impact on companies' performance. This study uses environmental and social disclosures as independent variables while Returns on Assets (ROA) as a proxy for financial performance. The study formulates two hypotheses to guide the study and uses a panel regression model in testing the statistical parameter estimates. Ex Post Facto design was adopted and data were collected from the NSE Factbook and published financial statements of the oil and gas companies listed in the NSE with data ranging from 2010-2019. The findings of the study show that corporate environmental and social disclosures have a significant impact on companies' performance at a 5% significant level. Because of this, the study concludes that environmental and social disclosures have improved companies' performance over the years. The study also recommends that companies should have an optimistic outlook regarding environmental and social friendly services and also disclose more of such information in their financial statements as over the years the degree of disclosures of these information has exercised considerable impact on companies' financial performance.
Authors and Affiliations
Ismail Alhassan School of Business Education Federal College of Education (Technical), Gombe, Gombe State, Nigeria E-mail: alhassan1412@gmail. com K. M. Anwarul Islam Associate Professor and Research Coordinator Department of Business Administration The Millennium University, Dhaka, Bangladesh E-mail: ai419bankingdu@gmail. com
Keywords
Related Articles
- EP ID EP690933
- DOI -
- Views 295
- Downloads 1
The Impact of Environmental and Social Disclosures on the Financial Performance of Oil and Gas Companies in Nigeria
This paper critically examines the effect of environmental and social disclosures on the financial performance of oil and gas companies in Nigeria. The study is crucial as it describes the level of environmental and soci...
Audit Committee and Earnings Management in Quoted Manufacturing Firms in Nigeria
This study evaluates the audit committee impact on earnings management of listed manufacturing companies in Nigeria. The study uses secondary data which were extracted from ten (10) sampled manufacturing firms listed in...
An Analysis of Socio-Economic Condition of Female Readymade Garments’ (RMG) Workers in Dhaka City
The RMG sector of Bangladesh is playing a vital role to generate massive employment, particularly a significant portion of female workers are engaged in this sector. Therefore, this industry is treated as a leading contr...
Disclosure of Property, Plant and Equipment as per BAS #16: A Study on Selected Pharmaceutical Companies in Bangladesh
Disclosure practices of pharmaceutical companies in Bangladesh as per BAS-16 are not well structured at all although Companies Act, 1994, Bangladesh Securities Exchange commission Rules 1987 are followed strictly. The ma...
Managers’ Emotional Intelligence Skills and Organisational Performance in Selected Telecommunication Companies in Lagos State, Nigeria
This study examines emotional intelligence skills and organisational performance in the Nigerian telecommunication sector. To achieve the objective of the study, survey research design was used for data collection. The s...