Sustainability Reporting Practice and Financial Performance of Listed Industrial Goods Firms in Nigeria
This study investigated the effect of sustainability reporting practices on the financial performance of listed industrial goods firms in Nigeria. The study adopted an ex-post facto research design and made use of secondary data sourced from annual reports and accounts of the sampled firms. The research work adopted panel data analysis to estimate the relationship between the variables and also used descriptive statistics of mean, standard deviation, minimum and maximum values. The result of the analysis showed that economic sustainability practice has a positive but insignificant relationship on change in total asset with probability value of 0.569 and positive significant relationship on change in stock price to the tune of 0.034. Environmental sustainability practice has a positive and significant impact on the financial performance (captured with change in total asset and change in stock price with probability value of .025 and .012 respectively) while community involvement sustainability practice has a positive and insignificant relationship on financial performance of the listed firms to the tune of 0.557 and 0.875. The study, therefore, concluded that there is significant impact of environmental sustainability reporting practice on financial performance of listed industrial goods firms in Nigeria. The study recommended that the management should as a matter of fact integrate sustainability practices so that the impact can be felt on financial performance of firms.
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Copyright (c) 2023 Israel S. Akinadewo, Olusola B. Adebayo, Oluyinka I. Oluwagbade, Omobolade S. Ogundele, Adebola Abass Jabar
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