This study investigated managerial perceptions of the determinants of sustainability reporting in Nigeria. The
The slow pace of firm valuation and the rising occurrences of fraud have been attributed in part to corporate governance. This research aims to educate the companies and their management who are capable of reversing the current pace to a much better pace. This study also aims to ascertain the firm value response to internal and external corporate governance using evidence from the Nigerian stock market, which covers the period from 2012 to 2019. To determine the response of firm value to the internal and external corporate governance mechanisms, two indexes were determined using the Principal Component Analysis (PCA), and data was sourced from the annual reports of the sampled firms listed on the Nigerian stock market. The variables used were firm value proxied by Tobin’s Q, and the internal corporate governance index composed of board independence, board meeting, board size, and board education; and then the external corporate governance index was represented by corporate disclosures, audit type, timeliness of reporting, and corporate governance code. The data was analyzed through a series of tests including the descriptive statistics, PCA, correlation matrix, and panel data static estimators, amongst others. The findings obtained from the analysis show that internal corporate governance has a positive and significant influence on firm valuation and that external corporate governance has a negative and insignificant influence on firm valuation.
This study examines stock market reaction and the impact of IFRS adoption on the Nigerian stock market. The paper also evaluates the effect of the Central Bank of Nigeria (CBN) reforms on earnings management of Nigerian banks. The result indicates no evidence of any significant effect on the market but a negative stock reaction in the medium term. Our finding highlights mixed impact of IFRS adoption on earnings management; but a significant decrease in earnings management in the post CBN reforms. Our study shows that adoption of IFRS was wrongly timed in Nigeria as the fragile investors' sentiment which was just recovering from the shock of the global financial crisis could have been weakened by the negative market returns. These results have signal effect on investors.
This paper assesses the level of corporate sustainability disclosures in an environmentally-sensitive industry in Nigeria -the oil and gas industry. The paper aims to evaluate the extent of sustainability disclosure in the annual report's oil and gas industries. The study retrieves secondary data on sustainability disclosure for 10 years (2010 -2019) from eight oil and gas industries listed in the Nigerian stock exchange through a desktop approach and content analysis methodology. Content analysis of the sustainability disclosure is to identify items of sustainability disclosed in the annual reports. The paper assesses the extent of disclosure by adopting the global reporting initiative's scoring index. Findings from the analysis indicate a very lowlevel climate change and environmental pollution disclosure. Only 13.8% of the companies disclosed their impact on climate change and environmental pollution. On the contrary, all the companies revealed their community investment, which this paper regards as legitimizing smokescreen ecological pollution. The paper contributes to the literature by connecting the legitimacy theory to the decoying sustainability disclosure of oil and gas companies in Nigeria. In conclusion, the study recommends more stringent sustainability disclosure policies for the oil and gas to provide more information for environmental and climate change advocates and investors in censuring the companies, which might instill improved environmental compliance.
It has never been more urgent for corporate entities to ensure that they are accountable for public health issues arising from their business operations. Corporate social responsibility is constantly being redefined from what it used to be in terms of corporate responsibility to people and the planet. This redefinition is mainly due to issues affecting public health. Hence, it is important for corporate entities to account for how their business operations affect public health. It is also important for corporate entities to account for how public health issues affect their business operations. The nexus between corporate social responsibility and public health could also create a ‘new normal’ by accounting and corporate reporting on public health.
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