Corporate Attributes and Environmental Accounting Disclosure of Listed Pharmaceutical Companies in Nigeria

Abstract

Resource consumption and the continuous emission of greenhouse gases in Nigeria have been experiencing an upward trend. Consequently, stakeholders are advocating for more transparency in corporate practices, especially those that negatively affect the environment. The research aimed to evaluate the impact of corporate attributes and environmental accounting disclosure within the context of publicly listed pharmaceutical companies in Nigeria. The research methodology used in this study was ex post facto. Using a census sampling methodology, the population consists of seven pharmaceutical enterprises officially listed on the Nigeria Exchange Group (NGX) as of December 31, 2022. The data used in this study was extracted from the verified annual financial reports of the businesses from 2010 to 2022. The collected data were analyzed with the panel data regression model employing ordinary least squares. The findings indicate that the characteristics of corporations have a notable and favourable influence on the extent to which organizations disclose information related to environmental accounting. According to the study, there is a weak and harmful correlation between leverage and environmental accounting disclosures. According to the study, Leverage and environmental accounting disclosures have an inactive and adverse relationship. Conversely, industry size and profitability show a strong, favourable relationship with these disclosures. The study's results indicate that the extent of information disclosure on environmental accounting by pharmaceutical businesses is significantly influenced by their company size and level of profitability. It is recommended that enterprises expand in terms of scale and profitability to ensure the submission of financial reports that adhere to worldwide standards of excellence.