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Environmental Conservation Costs and Performance of Manufacturing Companies Listed in Nigeria

Author

Listed:
  • JONATHAN Migyl Nnvin

    (Department of Accounting, Babcock University, Ilisan-Remo, Ogun State, Nigeria)

  • FOLAJIMI Festus Adegbie

    (Department of Accounting, Babcock University, Ilisan-Remo, Ogun State, Nigeria)

Abstract

The performance of manufacturing companies has become something worrisome as performance has been on the decline over years from Accounting literature. Nigerian businesses do not have access to environmental accounting guidelines or pollution cost guidelines for communicating with various stakeholder groups; however, the government has made efforts to enact laws to improve environmental sustainability in Nigeria. This study investigated the effect of Environmental Conservation Cost on financial performance of listed manufacturing firms in Nigeria. An ex-post facto research design was used in the study. The study population consisted of 35 consumer firms as of December 31, 2021. A sample size of 10 firms was chosen using a purposive sampling technique for the 10 years (2012-2021). Data were sourced from annual reports, and their accuracy and reliability were certified by external auditors. Data were analyzed using descriptive and inferential (multiple regression) statistics at a 0.05 level of significance. The study found that Environmental Conservation Cost had a significant effect on Earnings per Share and Net Profit Margin of listed firms respectively (Adj R2 = 0.766, F- Stat (5,96) = 35.460, p

Suggested Citation

  • JONATHAN Migyl Nnvin & FOLAJIMI Festus Adegbie, 2024. "Environmental Conservation Costs and Performance of Manufacturing Companies Listed in Nigeria," International Journal of Latest Technology in Engineering, Management & Applied Science, International Journal of Latest Technology in Engineering, Management & Applied Science (IJLTEMAS), vol. 13(4), pages 11-21, April.
    • Handle: RePEc:bjb:journl:v:13:y:2024:i:4:p:11-21
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    References listed on IDEAS

    as
    1. Vojislav Sekerez, 2017. "Environmental Accounting as a Cornerstone of Corporate Sustainability Reporting," International Journal of Management Science and Business Administration, Inovatus Services Ltd., vol. 4(1), pages 7-14, November.
    2. Obiajulu Chibuzo Okeke & Wisdom Okere & Chinnan Francis Dafyak & Mary-Fidelis Chidoziem Abiahu, 2022. "Inventory management and financial sustainability: insight from quoted manufacturing firms in Nigeria," International Journal of Managerial and Financial Accounting, Inderscience Enterprises Ltd, vol. 14(1), pages 84-97.
    3. Michael C. Jensen, 2010. "Value Maximization, Stakeholder Theory, and the Corporate Objective Function," Journal of Applied Corporate Finance, Morgan Stanley, vol. 22(1), pages 32-42, January.
    4. Charles Emenike Ezeagba & John-Akamelu Chitom Rachael & Umeoduagu Chiamaka, 2017. "Environmental Accounting Disclosures and Financial Performance: A Study of selected Food and Beverage Companies in Nigeria (2006-2015)," International Journal of Academic Research in Business and Social Sciences, Human Resource Management Academic Research Society, International Journal of Academic Research in Business and Social Sciences, vol. 7(9), pages 162-174, September.
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