FUDMA Journal of Accounting and Finance Research [FUJAFR]
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Environmental Reporting and Financial Performance of Listed Industrial and Consumer Goods Firms in Nigeria
Full text linkThis study examines the effect of environmental reporting on financial performance of listed Nigerian industrial and consumer goods firms for the period of ten (10) years from 2012 to 2021. The population of the study comprises forty-two (42) listed industrial and consumer goods firms in Nigeria. Eleven (11) firms were selected as the study sample size, which comprises 5 industrial goods and 6 consumer goods firms. The remaining 31 firms were filtered out, because they did not report their environmental disclosure throughout the period of this study and some were delisted. Return on Asset (ROA) is considered as proxy of financial performance. Secondary data were used and extracted from the firm’s annual reports using environmental reporting Index (ISO 14031) content analysis, provided at appendix A1. In relation to financial performance the data was also collected from the firm’s annual reports. The study analyses were conducted using STATA 13 statistical software. The regression result revealed that environmental information has significant positive effect on return on asset (ROA); employee health and safety have negative significant effect on ROA; product safety has negative significant effect on ROA. Based on these findings, this study therefore, concludes that environmental reporting influence financial performance of listed industrial and consumer goods firms in Nigeria. This study therefore, recommends among others that, listed Nigerian industrial and consumer goods firms should emphasize more on reporting their environmental issues as it is capable of improving their financial performance
The Knowledge Economy: How Intellectual Capital Drives Financial Performance of Non-financial Service Firms in Nigeria
Full text linkThe study investigates the relationship between intellectual capital and financial performance of 58 listed non-financial service firms in Nigeria for a period of eleven years from 2012 to 2022.The study extracts data from annual reports and accounts of the listed non-financial service firms in Nigeria. The study aligns with correlational research design and positivism research philosophy. The modified Value-added intellectual coefficient (MVAIC) method is applied to measure the value-based intellectual performance of the sampled firms. Return on equity (ROE) and Tobin’s (TQ) are used to measure the financial performance of the firms. The intellectual capital (human and structural and relational capital) of selected firms has been analyzed and their impact on financial performance has been measured using the multiple regression technique. The findings of the analysis reveal that the relationships between intellectual capital and financial performance indicators, namely ROE and TQ, are varied. The study results suggest that intellectual capital influences the financial performance of Nigeria’s listed non-financial service firms. The study recommends that the board of directors of non-financial service firms in Nigeria should identify, protect and ensure effective utilization of intellectual capital in their companies in order to achieve long-term success and competitiveness. The study provides policy implications as the MVAIC method can be used as an important tool by decision-makers in the knowledge economy to integrate intellectual capital in the decision-making process.