Firm-specific Attributes and Environmental Disclosure of Listed Oil and Gas Firms in Nigeria
This paper examines the relationship of specific oil and gas firms’ attributes; firms age, board composition, financial performance, existence of foreign directors on the board and financial leverage with Environmental Disclosures (ED). Data were collected from the published annual reports of nine listed oil and gas firms quoted on the floor of the Nigerian Stock Exchange (NSE) as at 2018, for a period of seven years (2012-2018). Generalized Least Square (GLS) was used to test the hypotheses after satisfying the criteria of post estimation tests. The result established a positive and significant relationship between board composition, financial leverage, existence of foreign directors on the board and ED. However, firm age and financial performance was found not to have significant relationship with ED. The study recommended that NSE should pursue actualization of the standard for disclosing ED by listed Oil and Gas firms. Thereafter, this should be made criteria for the firms to be listed as obtainable in the South African Stock Exchange and other developed countries. It also recommended that Firms that so far comply with disclosing their EI should be motivated through tax incentives by the regulatory authorities to achieve an improved ED practice in Nigeria.
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