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Influence of Environmental and Social Sustainability Disclosures on Financial Performance of Oil and Gas Firms in Nigeria

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Influence of Environmental and Social Sustainability Disclosures on Financial Performance of Oil and Gas Firms in Nigeria


Onuora, J. K. J. | Obiora Fabian. | Ikubor Augustine



Onuora, J. K. J. | Obiora Fabian. | Ikubor Augustine "Influence of Environmental and Social Sustainability Disclosures on Financial Performance of Oil and Gas Firms in Nigeria" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-6 | Issue-2, February 2022, pp.1076-1087, URL: https://www.ijtsrd.com/papers/ijtsrd49380.pdf

Background: Environmental and social sustainability disclosures (ESD) are conceded as an action by a firm, which the firm chooses to take, that substantially affects identifiable social stakeholder welfare. A socially responsible corporation should take a step forward and adopt policies and business practices that go beyond the minimum legal requirements and contribution to the welfare of its key stakeholders.Aim: This study empirically investigated the influence of environmental and social sustainability disclosures on financial performance of Oil and Gas Firms in Nigeria. The study is vital as it portrays the extent to which environmental and social sustainability influence firms’ performance. In order to determine the relationship between environmental, social sustainability disclosures and financial performance, environmental and social sustainability disclosure was measured using the GRI G4 on content index while firms’ performance on the other hand was represented by return on equity (ROE) and net assets per share (NAPS). Materials and Methods: Four hypotheses were formulated to guide the investigation and the statistical test of parameter estimates was conducted using OLS regression model operated with STATA V.15. Ex Post Facto design was adopted and data for the study were obtained from the published annual financial reports of the entire oil and gas firms quoted on Nigerian Exchange Group (NGX) with data spanning from 2016-2020.Results: The findings of the study generally indicate that environmental & social sustainability disclosures have significant and positive influence on firms’ performance measured by return on equity (ROE) and net assets per share (NAPS) at 1-5% significant level respectively. Conclusion: Thus, the study concludes that environmental & social sustainability disclosures positively improved firms’ performance over the years. Recommendation: The study however suggests the need for firms to have a positive disposition towards environmental friendly practices and also disclose more of this information in their annual reports on her commitment of business to contribute to sustainable economic development as the level of this information disclosure has influenced firms’ performance over the years.

Environmental Sustainability Disclosures, Social Sustainability Disclosures, Financial Performance, Net Assets Per Share


IJTSRD49380
Volume-6 | Issue-2, February 2022
1076-1087
IJTSRD | www.ijtsrd.com | E-ISSN 2456-6470
Copyright © 2019 by author(s) and International Journal of Trend in Scientific Research and Development Journal. This is an Open Access article distributed under the terms of the Creative Commons Attribution License (CC BY 4.0) (http://creativecommons.org/licenses/by/4.0)

International Journal of Trend in Scientific Research and Development - IJTSRD having online ISSN 2456-6470. IJTSRD is a leading Open Access, Peer-Reviewed International Journal which provides rapid publication of your research articles and aims to promote the theory and practice along with knowledge sharing between researchers, developers, engineers, students, and practitioners working in and around the world in many areas like Sciences, Technology, Innovation, Engineering, Agriculture, Management and many more and it is recommended by all Universities, review articles and short communications in all subjects. IJTSRD running an International Journal who are proving quality publication of peer reviewed and refereed international journals from diverse fields that emphasizes new research, development and their applications. IJTSRD provides an online access to exchange your research work, technical notes & surveying results among professionals throughout the world in e-journals. IJTSRD is a fastest growing and dynamic professional organization. The aim of this organization is to provide access not only to world class research resources, but through its professionals aim to bring in a significant transformation in the real of open access journals and online publishing.

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