Renewable and Non-Renewable Material Usage and Financial Performance of Listed Industrial Goods Firms in Nigeria
Journal Title: Journal of Economics, Finance and Management Studies - Year 2023, Vol 6, Issue 07
Abstract
This study examines the effect of renewable and non-renewable material usage on the financial performance of industrial goods firms in Nigeria. Renewable and now-renewable materials usage included energy consumption while firms’ financial performance was measured by return on assets (ROA), return on equity (ROE) and earnings per share (EPS). Data were sourced from the annual reports and sustainability reports of the selected industrial goods firms for periods of 2011 to 2020. Data for renewable and non-renewable material usage (RNMU) were obtained through a content analysis approach while data for ROA and ROE were computed with the accounting figures derived from the firms’ annual reports. Panel Regression analysis was employed in analyzing the data collected. Results from the analysis revealed that RNMU exerted negative but insignificant effect on ROA, ROE and EPS. The implication of the findings is that the level of environmental information practices and disclosures of industrial goods firms in Nigeria, in terms of renewable and non-renewable materials usage is poor; and has not significantly supported the firms’ performance. The study recommends among other things that corporate firms in general and industrial good firms in particular should take the issue of environmental information disclosures serious, so as to enhance the confidence of the public on the operations of the firms, which will consequently translate to better performance of the firms; and that the legislative arm of the government should tighten the legislation on environmental information disclosures of corporate entities in Nigeria by making it compulsory with specific indices.
Authors and Affiliations
Anuolam, M. O, Ike R, C
Keywords
Related Articles
- EP ID EP727206
- DOI 10.47191/jefms/v6-i7-13
- Views 65
- Downloads 0
Gambling Tourism and Economic Development: Some Lessons from Macao
This article aims to explore and document the relationship between forms of alternative tourism and economic development. More specifically, the subject of this investigation will be whether a small national economy is a...
The Effect of Service Recovery and Situational Factors on Consumer Forgiveness
The purpose of this study is to (1) determine the effect of service recovery on consumer forgiveness, (2) determine the effect of situational factors on consumer forgiveness. The respondents of this research were 100 con...
Determinants of Behavioral Intentions to Use E-Wallet Services in the City of Padang
This study aims to analyze the effect of perceived usefulness and perceived ease of use on behavioral intention to use with an attitude toward using as an intervening variable on the use of e-wallet services in Padang Ci...
The Italian Case: with the New Reform, Will Interferences Taxes in Financial Reporting be Definitely Eliminated?
The presence of tax rules that place limits on the tax deductibility of items in the balance sheet in the public profit and loss makes it tempting for preparers of financial statements to reduce the taxable income on whi...
External Debt Burdens and Economic Growth: A Vector Error Correction Approach from Nigeria
This study examined the effect of external debt burden on the growth of Nigeria economy. Time series data was sourced from Central Bank of Nigeria Statistical Bulletin from 1986-2019. Nigeria real gross domestic was prox...