Title: Non-Financial Information Disclosure And Financial Performance Of Quoted Industrial Goods Firms In Nigeria
Authors: Ogruka Justice Adibor & Ebiaghan F.O Ph.D
Volume: 9
Issue: 3
Pages: 63-72
Publication Date: 2025/03/28
Abstract:
Abstract: This study examines the relationship between non-financial information disclosure and the financial performance of quoted industrial goods firms in Nigeria, spanning from 2013 to 2023. The study focuses on 13 industrial goods firms listed on the Nigerian Stock Exchange Group. Non-financial information disclosure is measured using four key index: economic performance reporting, environmental performance reporting, social performance reporting, and corporate governance reporting. The financial performance of these firms is evaluated using Return on Assets (ROA). Firm size and financial leverage are included as controlled variables. The study adopts an ex-post facto research design and employs a multiple regression model for data analysis, with descriptive statistics used to analyze the results. The results revealed corporate governance Performance reporting and economic performance disclosure has no significant effects on return on assets of quoted industrial goods firms in Nigeria due to P value 0.846 and 0.546 respectively. On the basis of the findings, the study recommends that because environmental reporting level is not strong enough to cause a major change in return on assets, listed industrial goods firms should consistently reduce its disclosure and do not make it a mandatory practice.