Nigerian Journal of Banking and Financial Issues (NJBFI)
SUSTAINABILITY DISCLOSURE AND FINANCIAL PERFORMANCE IN LISTED MANUFACTURING IN NIGERIA: DOES AUDIT FIRM SIZE MATTERS
Keywords:
Sustainability disclosure, financial performance, Audit firm size, Nigeria, Robust Fixed effect regression.Abstract
This study examined the Moderating effect of audit firm size on sustainability disclosure and financial performance of listed manufacturing firms in Nigeria. The period spanned for (10) years from 2012 to 2021 with a sample size of thirty-four (34) firms selected across the six sectors. Financial performance was measured using Tobin Q, GRI index was used for sustainability disclosure, Ex-post facto design was utilized, and secondary data which came from the companies' audited annual reports was used. Regression with robust fixed effects was utilized for data analysis. The results from the regression analysis showed that sustainability disclosure positively and significantly affect financial performance, Audit firms’ size positively and significantly affect financial performance. However, audit firm size negatively and significantly moderates the effect of sustainability disclosure on financial performance of the listed manufacturing firms in Nigeria.
