Corporate sustainability disclosure and shareholders’ wealth of selected listed companies in Nigeria. , 4 (3), 100 – 111, Published by Faculty of Management Sciences, Federal University, Dutsin-Ma.
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Date
2021
Journal Title
Journal ISSN
Volume Title
Publisher
Faculty of Management Sciences, Federal University, Dutsin-Ma.
Abstract
The continued agitation over social costs and benefits by stakeholders necessitated the need for sustainability accounting disclosure globally. Corporate scandals and the effects of firms activities on the environment, people and the economy are capable of impacting upon the firms particularly shareholders’ value. This has raised fundamental questions on the extent to which existing corporate disclosures reveal systematic risks and true cost of doing business in today’s world especially in Nigeria. This study examined the impact of corporate sustainability disclosure on shareholders’ wealth focusing on the quoted companies in Nigeria. Secondary data was obtained from the annual reports of the thirty seven (37) selected listed Nigerian companies and they were analysed using panel least square (random effect) estimator. Findings revealed economic disclosure and environmental disclosure had a negative significant impact, while social disclosure had a positive significant impact on shareholders’ fund. The study concluded that sustainability disclosure influenced shareholders’ wealth of the selected listed companies in Nigeria. This study recommended that listed sampled companies should increase disclosure on the effects of firms activities on all sustainability disclosure dimensions.
Description
Keywords
Economic, Environment, Social, Sustainability, Shareholders wealth
Citation
Osemene, O. F.,Abogun, S. Abdulsalam I.& Adigbole, E.A.(2021). Corporate sustainability disclosure and shareholders’ wealth of selected listed companies in Nigeria. Journal of Management Sciences,4 (3), 100 – 111,