Business Studies

Business Studies

Sustainability Reporting: A Catalyst to Performance of Insurance company in Nigeria

Volume: 56  ,  Issue: 1 , July    Published Date: 18 July 2020
Publisher Name: IJRP
Views: 87  ,  Download: 28
DOI: 10.47119/IJRP100561720201289

Authors

# Author Name
1 Owolabi Sunday A
2 Okulenu Samuel Adetayo

Abstract

ABSTRACT The paper explicated on sustainability reporting as a catalyst to performance of insurance company in Nigeria. The paper made use of the ex post facto research design. A sample was taken from Mutual Benefit Assurance PLC, which was employed in this paper. Data was gotten from the annual reports and accounts of the sampled firm through content analysis. The data were analyzed using multiple regression analysis. The results revealed that sustainability reporting has a small but positive relation with Environmental Reporting and market value and performance of the organization, social reporting was negatively related with market value and performance of the organization, and economic reporting was positively related with market value and performance of the organization. The study recommended that companies should intensify sustainability reporting as this could lead to increased market performance and that of local environments where these firms function and other key players like employees and social and environmental non-governmental organizations must require sustainability reporting to satisfy their information needs and assist them to hold firms to account for not only economic performance but also environmental and social performance as its impacts them.

Keywords

  • Economic Reporting.
  • Performance
  • Organisation
  • Sustainability Reporting
  • Performance
  • recommandation engine
  • Environmental Reporting
  • References

    References Adekanmi, A. D. (2015). Environmental accounting: A tool for sustainable development. International Journal of Advanced Academic Research, 1(2). Asaolu T. O., Agboola A. A., Ayoola T. J., & Salawu M. K. (2011), Sustainability Reporting in the Nigerian Oil and Gas Sector. Proceedings of the Environmental Management Conference, Federal University of Agriculture, Abeokuta, Nigeria. Pp 1-24 Ballou, B., Heitger, D.L., &Landes, C.L. (2009). The Future of Corporate Sustainability Reporting: A Rapidly Growing Assurance Opportunity Belkaoui, A., & Karpik, P. G. (1989).Determinants of the corporate decision to disclose social information.Accounting, Auditing and Accountability Journal, 2(1), 36-51. Beredugo, S. B., & Mefor, I. P. (2012).The Impact of environmental accounting and reporting on sustainable development in Nigeria. Research Journal of Finance and Accounting, 3(7) Ekwueme, C. (2011) Social responsibility accounting: An overview, in M.A. Mainoma (Ed.) Contemporary issues in accounting development (PP. 45 - 63), A publication of the Association of National Accountants of Nigeria (ANAN) MCPD 2011. Elkington, J. (1997). Cannibals with Forks: The Triple Bottom Line of 21st Century Business, Oxford: Capstone Publishing, Oxford, UK. Freeman, R.E. (1984). Strategic Management: A Stakeholder Approach. Boston: M.A. Pitman Global Reporting Initiative (2011). GRI Sustainability Reporting Guidelines version 3.1.https://www.globalreporting.org/.../G3.1-Guidelines-Incl-Technical- Protocol.pdf KPMG (2008). KPMG international survey of corporate responsibility reporting 2008. Retrieved from http://www.kpmg.com/SiteCollection Documents/ International-corporateresponsibility-survey-2008_v2.pdf. Mansell, S. (2013). Capitalism, corporations and the social contract: A critique of stakeholder theory. Cambridge: Cambridge University Press Miles, S. (2012). Stakeholders: Essentially contested or just confused? Journal of Business Ethics 108(3): 285–298. Mitchell, R.K., Agle, B.R., & Wood, D.J. (1997). Toward a theory of stakeholder identification and salience: Defining the principle Ndukwe E.O. D. & Nwakanma G. N. (2018). Corporate sustainability reporting and firm profitability: A survey of selected quoted companies in Nigeria. The Nigerian Accountant, 51(2), 18 – 26. Norhasimah, M. N., Norhabibi, A. S. B., Nor, A. A ., Sheh, M., Qamarul, A. S. K. & Inaliah, M. A. (2015). The effect of environmental disclosure on financial performance in Malaysia 7th International Economics & Business Management Conference, 5th - 6th October 2015. Oyewo, B. M. (2014). Sustainable development reporting practices by Nigerian Banks. Mediterranean Journal of Social Sciences, 5 Reiner Quick (2008) Voluntary sustainability reporting practices in Germany: a study on reporting quality Journal of Social Technologies vol. 12, 2(2), p. 273–289 Shoaib, M. M. (2011). Impact of sustainability reporting on firm's performance: Evidence from Pakistan. African Journal of Business Management. 17(5), 56- 101. Unerman, J., Bebbington, J., and O'Dwyer, B. (Eds.). (2007) Sustainability Accounting and Accountability, London: Routledge. Utile, B. J., Zayol, P.I. & Aondoakaa, E.K. (2018). Corporate sustainability reporting and the financial performance of the Nigerian listed industrial goods firms. The Certified National Accountant, 26 (3),45-51.