Influence of Companies’ Governance Process on Sustainability Reporting in Nigeria

Abstract

The study investigated the influence of companies’ governance process on sustainability reporting in Nigeria. The study was anchored on the stakeholders’ and information cost theories and adopted the ex post facto research design. The population of the study was made up of all listed oil and gas companies in Nigeria. Data were obtained through manual content analysis of corporate financial statements using a modified checklist based on SEC (2018) Sustainability Reporting Guidelines to examine the level of disclosures by sampled firms for the period 2016 to 2018. The study deployed descriptive, correlation and regression analyses as data analytical techniques. Findings of the study revealed no significant positive association with board activity, board globalizing, executive compensation and profitability but a negative association with audit committee strength. The study concludes that good company governance practices promote sustainability reporting and recommends amongst others the internationalization of corporate board rooms for effective managerial expertise and technical collaborations.