SUSTAINABILITY REPORTING DISCLOSURE AND FINANCIAL PERFORMANCE OF LISTED OIL AND GAS COMPANIES IN NIGERIA: AN EMPIRICAL ANALYSIS
Rabi’u Ya’u Muhammad, Shehu Abubakar and Jamilu Jibril
Volume 3 Issue 2
Abstract
Issues regarding corporate sustainability have gained global relevance in recent times owing to the increasing awareness that activities of most organizations may have adverse implicational effects on the ecosystems, societies, and environments of the future. Thus, companies are now being required to extend their strategic policies and information reportage to encompass sustainability reporting practices in order to meet the environmental and social needs of both current and future stakeholders. It is on this light that this study was set out to examine the effect of sustainability reporting on the financial performance of listed oil and gas companies in Nigeria. This study examined the effect of Economic performance disclosure, Environmental performance disclosure and social performance disclosure on the performance of listed oil and gas companies. Using quota system sampling technique the study sampled four oil and gas companies out of eleven. The data were collected from annual reports and accounts of the companies using content analysis. The findings show that Economic performance disclosure significantly affects the performance of listed oil and gas companies. However, the result reveals that Environment performance disclosure and Social performance disclosure do not significantly affect the performances of listed oil and gas companies. The study recommends the relevant regulatory authorities should encourage sustainability reporting practices among Nigerian companies by aligning the existing global sustainability standards to reflect the social and environmental challenges peculiar in the Nigeria context. Keywords: Sustainability, Disclosure, Performance, Reporting, Financial, Corporate
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