STAKEHOLDER ECOSYSTEM AND CORPORATE SOCIAL DISCLOSURE AMONG NON-FINANCIAL FIRMS IN LAGOS STATE, NIGERIA
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Date
2025
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Journal ISSN
Volume Title
Publisher
International Journal of Accounting, Management, and Economic Review.
Abstract
The alarming rate of social disclosure practices across the globe have becoming great concern. This arose as a
result of high level of production activities which resulted to negative impact on the employee, immediate
communities and other stakeholders. Consequently, stakeholders agitate for discovery of this information in the
annual report and account. Despite, the regulation through Global Reporting Initiative (GRI)there still cases of
not disclosing the information. Given this bases, this study therefore investigate stakeholder ecosystem and social
disclosure among non-financial firms while the secondary objective is to examine the impact of operational
stakeholders on corporate social disclosure; investigate the impact of strategy stakeholders on corporate social
disclosure; investigate the influence of primary stakeholders on corporate social disclosure; investigate the impact
of strategy stakeholders on corporate social disclosure. The study used survey research design; data was extracted
from sample size of 294 representing the entire non-financial firms. Survey research design was used in this due
to the nature information required in this study. The result of the findings showed active stakeholders have a
negative and statistically insignificant impact on corporate social disclosures (coefficient: -0.038, p-value: 0.554);
strategy stakeholders 0.109 and P value is 0.089 on corporate social disclosure among listed non-financial firms
in Lagos state, Nigeria; In the light of primary stakeholders, the result indicated that (coefficient: -0.096, p-value:
0.002) while environmental advocacy showed that negative but insignificant impact (coefficient: -0.034, p-value:
0.643). Therefore, the study concludes that operational stakeholder insignificantly influences social disclosures
practices; strategic stakeholders have significantly influence corporate social disclosures among non-financial
firms; Primary stakeholders have a significant negative impact and Environmental advocacy stakeholders show a
negative, statistically insignificant impact. Based on these findings, the study recommends targeted interventions
through established policy that will enhances company’s corporate social disclosure practices, including
formalizing employee engagement channels, strengthening regulatory standards, structurally and developing
universal, firm-centric capacity building programs to improve the eminence and reliability of corporate social
reporting in non-financial firms in Lagos state, Nigeria.