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| Corporate Non-Financial Disclosure Impact on Firm Performance |
Ugwu Ikechukwu Virginus Ph.D and Nwakoby, Nkiru Peace Ph.D
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Abstract:
Our study is on corporate non-financial disclosure NFD impact on firm performance (ROA). The research design used Ex Post facto Design and collected data from 10 listed industrial goods purposefully selected from the entire listed industrial goods in Nigeria Stock Exchange NSE from 2015-2019. We applied three independent variables of NFD: (Intellectual capital disclosure ICD, Risk Management Disclosure RMD, Corporate Governance disclosure CGD) and this is shown in qualitative form using sentences and words counts in the annual report of the sampled firms for the five year period. The data collated are analyzed using Descriptive Statistic, Multi-co linearity (VIF) test and Multiple Regression. Our findings show that NFD is significantly positive on firm performance. The three predictable variables show positive significant impact on firm performance ROA and indicate that: ICD as a NFD has significant and positive impact on ROA; RMD as a NFD has significant and positive impact on ROA; and CGD as a NFD has significant and positive impact on ROA in Nigeria industrial goods. We recommend legitimate practical guideline enforcement by government for firm managements to annually disclose their NFD and their contributions to sustainable economic development. We contribute with a new modernized model of (ICD, RMD and CDD) on NFD that significantly and positively impact on firm performance; and the enormous rich literature for academia.
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