Corporate Social Responsibility Disclosure and Financial Performance of Listed Insurance Firms in Nigeria (Published)
The backdrop of contending views that CSR is merely façade, just a marketing campaign, and that CSR disclosures among insurance companies in Nigeria are very scanty; whereas organizations desire to be seen as legitimate corporate citizens satisfying various stakeholders, justify this study to examine the relationship between corporate social responsibility disclosure and financial performance of listed insurance companies in Nigeria. Based on the ex-post-facto research design, this study employed secondary data obtained from published financial statements of sampled seven insurance firms between 2015 and 2022. These seven insurance companies are all currently listed in Nigerian Exchange Group. The data gathered was analysed using simple linear regression technique based on the ordinary least square method assisted by E-Views version 9. Three hypotheses were formulated and tested at 0.05 level of significance based on the specific study objectives, using the results of analysis. The findings revealed that corporate social responsibility disclosures have statistically positive significant relationship with earnings per share, net profit margin, and return on assets of listed insurance firms in Nigeria. It was recommended that the management of insurance companies should adopt policies that would favour appropriate increase in corporate social responsibility to enhance performance and peaceful coexistence with their host communities.
Keywords: Assets, Earnings, Legitimacy., Performance, Returns, profit, stakeholder
The Influence of Legitimacy and Marketing in the Context of Accounting for the Environment in a Sub-Saharan African Country (Published)
Purpose – The paper intends to serve as a contribution to the requirements for organizations to account for and disclose the social and environmental (SE) consequences of their activities, aspects of the concept of sustainability accounting (SA). In particular, this research study investigates the current practices of environmental accounting (EA), whether it is influenced by the same values as that of society and is used as a marketing tool of the oil and gas sector in Uganda, a less developed country. Design/methodology/approach – The study involved 57 oil and petroleum supply chains. Major data collection methods included a review of 13 annual reports/statements by oil companies and both a structured and a semi-structured questionnaire involving 272 respondents, with a response rate of 57.0%. A mixed-methodological approach was employed to analyze the qualitative and quantitative data together. Findings – (1) There are no detailed archival records related to EA; (2) respondents’ (106) responses to the possible consequences of not accounting for the environment were almost indifferent on issues that influence marketing, indicated by the small differences in the mean (1.83 to 2.50) and standard deviations (0.504 to 0.925); (3) responses on the influence of legitimacy and marketing on accounting for the environment ranged from 8.3% to 90.0%, while the mean ranged from 1.92 to 3.90 and the standard deviations from 0.303 to 1.482; (4) we suggest that EA is currently not being done, which is an indicator of poor management of the environment; (5) the results support that a marketing tool is not a significant determining factor of accounting for the environment, despite having a social role to fulfill; and (6) the results do support the theory of legitimacy, because oil and petroleum products suppliers in the country respond to environmental laws, regulations and guidelines. Originality/value – The highlighted perspective on how organizations account for and disclose the environmental trends of their activities – an aspect of the concept of SA in Uganda, a country with a youthful population, open markets, abundant resources and significant unexploited oil and gas reserves – distinguishes this study from others on similar topics.
Keywords: Environment, Legitimacy., Marketing, oil and gas sector, sub-Saharan Africa, sustainability accounting