IMPACT EVALUATION OF CARBON AND ENERGY MANAGEMENT PRACTICES ON SUSTAINABLE INNOVATION OF MANUFACTURING FIRMS IN NIGERIA
Keywords:
Community development, Eco-cost Management, Environmental Cost, Financial Performance, Return on Capital Employed,, Waste ManagementAbstract
The study ascertained the effect of Eco-Cost management on financial performance of Consumer Goods Firms listed on the Nigerian Exchange Group from 2012 to 2023. The Specific objective was to ascertain the effect of community development disclosure (CDD), waste management disclosure (WMD), on return on capital employed (ROCE) of Listed consumer goods firms. Ex-post facto research design was adopted in the study. Out of the population of 21 listed consumer goods firms in Nigerian as at 31st December 2023, a sample size of 16 was purposively selected. Secondary data were sourced. Descriptive analysis was used to summarise the data. Estimates from Robust Least Square regressions were used to test the hypotheses, which found that: Community Development Disclosure (CDD) has a significant and positive effect on return on capital employed of listed consumer goods firms in Nigeria (β = 0.032, p = 0.0000); Waste Management Disclosure (WMD) significantly and positively affects return on capital employed of listed consumer goods firms in Nigeria (β = 0.559, p = 0.0000. In conclusion, as the marketplace becomes more competitive, companies may benefit from adopting a more strategic approach to their environmental communication, emphasizing disclosures that yield positive financial outcomes while efficiently managing the costs associated with those that have adverse effects. The study recommends among others that Corporate Social Responsibility (CSR) teams within listed consumer goods firms should enhance their community development initiatives and disclosures by actively engaging in local projects that address community needs and transparently reporting on the outcomes and benefits of these initiatives to stakeholders.
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