Abstract
Despite the growing evidence on the determinants of sustainability reporting, there exist limited and inconclusive studies on the impact of board expertise on sustainability reporting. This study investigates the influence of environmentally sensitive, certified or educated board members on the disclosure of sustainability report. Based on the static panel data regression estimators for 10 Nigerian Deposit Money Banks over the period of 2014-2016, the study revealed that highly educated directors have an altogether constructive influence on the sustainability report disclosure while controlling for corporate administration and firm-level qualities. In addition, we find that the executive and non-executive directors have low experience in environmental issues resulting in an insignificant effect on the disclosure of sustainability reporting. This paper suggests that firms should allow more directors with environmental background, who have a lower motivation to boost transient returns since they are likely to influence environmental performance.
Highlights
The sole aim of every profit-making organisation is to continue to make a profit and meet the needs of all her stakeholders, it, has become very pertinent for management to engage in practices and corporate strategies that would aid the fulfilment of her going concern objective
The result reports 65.8% of the variability in Sustainability Reporting Disclosure is explained by the independent variables
This paper explores the effect of board expertise and level of director education on sustainability performance
Summary
The sole aim of every profit-making organisation is to continue to make a profit and meet the needs of all her stakeholders, it, has become very pertinent for management to engage in practices and corporate strategies that would aid the fulfilment of her going concern objective. In the light of recent global happenings, various international organisations and companies seeking to belong to that global space are gradually conforming to the needs of stakeholders and global organizations by carrying out their operations in such a way that transparency and sustainability are evident from their reports and activities. A sustainability report shows the firm’s qualities and management model and exhibits the connection between its procedure and its duty to an economical world view". This means a sustainability report must be in alignment with the vision and strategic plans of a given organisation [16]. The results from previous researches on the subject matter remain inconclusive as [3] are of the opinion that sustainability reporting instigate no critical influence on the arrival of benefit of Listed firms in Nigeria while [11] uncovered that there exit critical adverse connection between Environmental Accounting and ROCE and EPS while a critical progressive connection between Environmental Accounting and Net Profit Margin and Dividend per Share
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