Corporate Environmental Disclosure and Financial Performance of Quoted Oil and Gas Companies in Nigeria

• Author(s): Oke O. D. ; E. T. Olatunji ; Remi-Aworemi F.I
• Paper ID: 1705400
• Page: 511-514
• Published Date: 30-01-2024
• Published In: Iconic Research And Engineering Journals
• Publisher: IRE Journals
• e-ISSN: 2456-8880
• Volume/Issue: Volume 7 Issue 7 January-2024

Abstract

This paper examines the relationship between corporate environmental disclosure (CED) and financial performance measures for quoted Nigerian oil and gas companies from 2010-2021. A disclosure index constructed from annual reports evaluates the extent of CED. Using panel data methodology, empirical findings from correlation and regression analyses indicate no significant impact of CED on either market capitalization or return on capital employed for the sampled firms. The mean CED index is low, reflecting inadequate sustainability reporting attributable to limited mandates and stakeholder pressures. However, as standards evolve adhering to global benchmarks, transparency around ecological challenges may better indicate intangible value-drivers. By contributing timely evidence on an under-researched theme for a major oil producer, this study can benefit policy makers intent on balancing industrial growth and sustainability.

Keywords

Corporate Environmental Disclosure, Financial Performance, Nigerian Oil Companies, Market Valuation, Sustainability Reporting

Citations

IRE Journals:
Oke O. D. , E. T. Olatunji , Remi-Aworemi F.I "Corporate Environmental Disclosure and Financial Performance of Quoted Oil and Gas Companies in Nigeria" Iconic Research And Engineering Journals Volume 7 Issue 7 2024 Page 511-514

IEEE:
Oke O. D. , E. T. Olatunji , Remi-Aworemi F.I "Corporate Environmental Disclosure and Financial Performance of Quoted Oil and Gas Companies in Nigeria" Iconic Research And Engineering Journals, 7(7)