Corporate Boards and Sustainability Reporting: Evidence from Environmentally Sensitive Firms in Nigeria
DOI:
https://doi.org/10.70882/fujohssaca.2025.v1(AHBSI).12Keywords:
Directors’ Remuneration, Stakeholder Engagements, Board Sustainability Committees, Sustainability ReportingAbstract
The study examined the impact of board attributes on sustainability reporting of some environmentally sensitive firms in Nigeria. Motivated by the gap in the literature, especially in the Nigerian context about the impact of board of directors’ remuneration and board-stakeholder engagements on sustainability reporting, a sample of 11 (out of a total population of 14) firms from the Agriculture and Oil and Gas Sectors in the Nigerian Exchange Group were studied for the period from 2019-2023. Data were sourced from annual reports and financial statements of the firms, and the analysis of data was based on results from statistical inferences and regression models. The study found that both directors’ remuneration and stakeholder engagement have a positive and significant impact on sustainability reporting. The study also reveals that board sustainability committees have a positive and significant impact on sustainability reporting, board gender diversity has a negative and significant impact on sustainability reporting, and board size has a negative but insignificant impact on sustainability reporting. The study recommends that board sustainability committees be given a prominent place by recognizing them as statutory committees, in order to support the global commitment to sustainable business practices, including sustainability reporting. The recommends that strong company ethics and values be put in place to recognize and respect the culture of equal opportunity for both male and female employees to allow women to freely exert their positive influence on business policies and practices.
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