BOARD CHARACTERISTICS AND ENVIRONMENTAL DISCLOSURE OF LISTED OIL AND GAS FIRMS IN NIGERIA AND SOUTH AFRICA
Keywords:
Gender Diversity, Board Size, Board Independence, Effluent DisclosureAbstract
This study assessed the effect of Board Characteristics on Environmental Disclosure of listed Oil and Gas firms in Nigeria and South Africa for eleven (11) years period ranging from 2011-2021. Gender Diversity, Board Size and Board Independence served as Board Characteristics proxies while Environmental Disclosure was measured with Effluent Disclosure. The study employed secondary data extracted from the Nigerian Exchange (NGX) Group and Johannesburg Stock Exchange (JSE) fact books, annual reports and accounts, stand-alone sustainability reports of sample firms. The study adopted Ex-post facto research design while the panel data sets were analyzed using Pearson Correlation matrix and Panel Least Square Regression analysis via E-Views 10.0. The result revealed that Gender Diversity has a significant and positive effect on Effluent Disclosure (β1 = 0.082165; p-value = 0.0000); Board Size has a significant and positive effect on Effluent Disclosure (β2 = 0.159110; p-value = 0.0000); Board Independence has a significant and positive effect on Effluent Disclosure (β3 = 0.148493; p-value = 0.0000) of listed Oil and Gas firms in Nigeria and South Africa at 5% level of significance respectively. In conclusion, the study upholds that Board Characteristics significantly affects Environmental Disclosure of listed Oil and Gas firms in Nigeria and South Africa. It was recommended inter alia that firms should always have both women and men in the organizational teams in order to benefit from the different points of view and approaches that come from different life experiences, thus a multiplicity of perspectives can spark creativity and innovation, and help organizations spot and seize new opportunities
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