Abstract
Environment reporting practice is a relatively new concept with a global affirmation and sanction. It requires transparency and sincerity of disclosure among the practicing firms and as required under the law. The broad objective of this study is to carry out a comparative analysis of reporting practices and its effect on performance (proxy by total assets) of listed oil and gas firms on the one hand and consumer goods firms in Nigeria (on the other hand). The study adopted the ex-post facto research design whereby existing and published data of reporting companies have been sought through their annual reports. Data for analyses were obtained through secondary sources, namely, the annual reports and accounts of the sampled companies. The Nigerian oil and gas subsector has 12 listed firms while the manufacturing sub-sector has 31 companies, from which three firms each (total of six) were sampled for the study. The purposive sampling technique was adopted in the choice of firm to be included in the study; Mobil oil and gas, MRS Oil Nig plc and Total Nig plc were chosen from the oil and gas sector while Nestle Nig plc, Nigerian Breweries plc, and Dangote flour Mills were selected from the consumer goods industry. The analyses adopted the use of SPSS version 20.0 and the essential tools were the correlation coefficient, the coefficient of determination and the simple regression analysis model. It was found that discretionary social responsibility reporting practices (donations and gifts) have significant effects on performance of both oil and gas firms and consumer goods companies in Nigeria. The study recommends that firms should consolidate on discretionary SR practices to ward off restiveness in the communities where they operate.
Highlights
Background of the Study The UN through its agency United Nations World Commission on Environment and Development (UNWCED) in 1987 made the proclamation that: ‟development is assessed as sustainable when it meets the needs of the present without compromising the ability of the future generations to meet their own needs
Research Questions The following research questions are designed to secure the necessary answers to the specific objectives: 1. What effect does ethical social responsibility reporting practice have on total assets of firms in Nigeria?
There is a statistically significant difference between the 1989 and 1990 individual and overall disclosures; (2) there is a statistically significant negative difference between the 1990 and 1991 individual and overall disclosures; (3) the United States provided the highest percentage of companies reporting environmental information; and (4) the British-American accounting model produced the highest percentage of companies employing the different environmental disclosure forms The study revealed that on an average sample companies disclosed 8.53 (15.23%) of the expected information in their annual reports and environmental disclosure volume and total asset of the companies are significantly correlated
Summary
Background of the Study The UN through its agency United Nations World Commission on Environment and Development (UNWCED) in 1987 made the proclamation that: ‟development is assessed as sustainable when it meets the needs of the present without compromising the ability of the future generations to meet their own needs. In Nigeria, an increased level of consciousness can be observed with regards to the relationship that exists between sustainable development and the quality of the environment. Severe environmental degradation appears to be threatening the long term sustainable development prospects of the Country” (Oba, 2012). According to the KPMG and UNEP Report (2006) in Oba (2012), environmental accounting provides a common framework for organizations to identify and account for past, present and future environmental costs in order to support management decision-making, control and public disclosure
Sign-in/Register to view highlights & summary Sign-in/Register to access full text options 
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a call
