CORPORATE SOCIAL AND ENVIRONMENTAL DISCLOSURES AND MARKET VALUE OF LISTED FIRMS IN NIGERIA
Journal Title: Copernican Journal of Finance & Accounting - Year 2018, Vol 7, Issue 3
Abstract
This study examines the effect of corporate social environmental disclosure (CSED) on the market value of eighty-four (84) listed firms in Nigeria, which were purposively selected from the period 2011 to 2016. The aggregate of (CSED) were regressed on Market Value (Tobin’s Q), while Firm size, financial performance, board size, leverage, affiliation to foreign company and industry type were factored in as extraneous variables. Data were obtained through content analysis of annual reports of sampled firms and were analysed through descriptive statistics and regression analysis. The result of the descriptive analysis showed that the mean score for the CSED is above average and the standard deviation for almost all the variables is low which indicated that the deviation of the actual data from their mean is not significant. The OLS result revealed that CSED, firm size, financial performance, affiliation with foreign company and industry type have significant effect on the market value of firms, while Board size and leverage do not significantly influence the market value of firms. The study recommends that firms should disclose information on their environmental performance as a way of adding value.
Authors and Affiliations
Okwy Peter Okpala, Oluwamayowa Olalekan Iredele
Keywords
Related Articles
- EP ID EP507342
- DOI 10.12775/CJFA.2018.013
- Views 144
- Downloads 0
EU ENERGY UNION: ADJUSTMENT TO THE NEW DEVELOPMENT CYCLE
Purpose – The purpose of this paper is to reflect the results of the research on the recent EU European energy policy following the launch of the concept of the Energy Union in February 2015. The authors analyse the issu...
A Solution To Eradicate Jobless Growth: Meritocracy
World economy showed an important development after 9/11. With the transition of neoliberal economy programs, employment around the world had increased until 2008 global financial crisis. Because of the devastation effec...
PRINCIPLES OF SUPPORT FOR THE COMMON GOOD SERVICES CO-FINANCED FROM PUBLIC FINANCIAL MEANS
Territorial self-governments of all levels (commune, county or region) perform services for the common good which, for obvious reasons, are conditioned by the financial system of the self-government units. The Constituti...
FINANCIAL CONSEQUENCES OF CYBER ATTACKS LEADING TO DATA BREACHES IN HEALTHCARE SECTOR
Healthcare sector is identified as particularly vulnerable to digital data breaches and damages caused by illegal use of personal and confidential information. Facing such dangerous threat medical entities need to estima...
ECONOMIC ACTIVITY AND SOCIAL DETERMINANTS VERSUS ETREPRENEURSHIP IN SMES – SELECTED ASPECTS
Entrepreneurship is a vital element of development of today’s economies. Its main objective is to undertake actions intended to ensure that economic resources of individual companies are coordinated in a pragmatic and pr...