Firms' performance and corporate social disclosures: cross-sectional evidence of Nigerian firms Online publication date: Thu, 16-Oct-2014
by Olayinka Moses; Ulan Victoria Jatau; Janet Oyemine Modupe Ande; Ambrose Abalike Okwoli
International Journal of Management Practice (IJMP), Vol. 7, No. 4, 2014
Abstract: This study examines the relationship that exists between Firms' Financial Performance (FFP) and Corporate Social Responsibility Disclosures (CSRD) on one hand and the extent to which firms in Nigeria are involved in transparent corporate social responsibility disclosures on the other hand. A modified 25-theme Global Reporting Initiative (GRI) disclosure index and firms' Earnings Per Share (EPS) along with the Companies Annual Turnover (CAT) was used to determine the impact CSRD has on FFP. The finding of the study shows that firms in Nigeria have a positive insignificant relationship between CSRD and CAT and their EPS. The extent of CSRD by quoted companies in Nigeria was found to be at a 53% threshold; which falls below the 75% global benchmark for excellent disclosure. The study recommends among others the use of legislations to elicit detailed disclosures and the need for separate tracking of social responsibility costs in annual accounts of companies.
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