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| Firm Attributes and Sustainability Reporting In Nigeria |
Onyinye Eneh, Amakor, Ifeoma Chinelo
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Abstract:
The study examines the impact of firm attributes (firms size, leverage and profitability) on sustainability reporting in Nigeria. This study employs the ex-post causal research design. The sample consist of 35 manufacturing companies selected listed on the Nigerian Stock Exchange. These companies are selected because they could be regarded as environmentally sensitive companies. The study employed secondary data retrieved from corporate annual reports of the environmentally sensitive companies quoted from 2011-2017. For the estimation of the data, the Generalized Least Squares was first utilized for the estimation and moving forward fractional regression is also employed and this is because econometric modelling of bounded dependent variables presents limitations for linear estimation methods. In this study, we combine both approaches. The white adjusted standard error was employed to control for potential heteroskedasticity in the estimation and hence the estimation results are free from heteroskedasticity. Both panel period and cross-sectional heteroskedasticity was examined and the estimations were found to be free from such. The Peseran cross-dependence test was employed to confirm the threat of the serial correlation in the errors and the statistic reveals the absence of cross-section dependence in the residuals. The analysis of coefficients reveals that on the overall, only firm size is seen as the only variable to having a positive and significant impact on sustainability reporting. The study recommends the need for improved sustainability disclosures for companies in Nigeria
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