OWNERSHIP STRUCTURE AND CORPORATE DISCLOSURE OF ENVIRONMENTAL INFORMATION IN NIGERIAN LISTED CONSTRUCTIONS COMPANIES
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Date
2024-09-30
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Publisher
Faculty of Management Sciences and Department of Economics University of Maiduguri.
Abstract
This study examines the impact of ownership structure on environmental information disclosure (EID) of listed construction companies in Nigeria from 2013- 2021. A sample of six (6) companies listed as construction companies using census sampling technique was drawn from the population of nine (9) companies. Audited annual reports and accounts were used for data extraction. The analysis was done using descriptive statistics and multiple regressions. Correlational research design was adopted in the study to find out the impact of ownership structure on EID. Variables used include foreign ownership; managerial ownership and block-holder ownership and EID measured using ordinal coding scheme based on GRI guidelines (G4). Robustness tests such as multicollinearity test, heteroscedasticity test, normality test and Hausman specification test were conducted to validate the results. The study revealed that there is a negative and significant relationship between foreign ownership and EID, while a negative and significant relationship between managerial ownership with EID and lastly there is a positive and significant relationship between block- holder ownership and EID. The study, therefore, recommends among others that the management of listed construction companies should direct their attention more on how to increase the level of block-holder ownership because they can influence the managers to disclose more environmental information and consequently by reducing information asymmetry, which not only clarifies the conflicts of interests between shareholders and management but also makes management more accountable and increases profit in the long run.
Description
The paper examined the influence of ownership structure on environmental disclosure of firms in Nigeria.
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Citation
Shuaibu, K., Daniya, A.A., Lawal, T. and Yabagi, M. I. (2024): Ownership structure and corporate disclosure of environmental information in Nigerian listed constructions companies. Journal of Resources and Economic Development, 7 (1) 1-17.