Determinants of Socio-Environmental Reporting of Quoted Companies in Nigeria

The quest for sustainability has caused the corporate body to realize that the world is on the brink of a potential crisis from the combined effects of social and environmental damages. This study examined the determinants of socio-environmental accounting of listed firms in Nigeria. This was with a view to providing information on how socio-environmental accounting could be employed to enhance firms’ sustainability. Secondary source of data collection was employed for the study. Purposive sampling technique was used to select a sample of 50 firms listed on the main board of the Nigerian Stock Exchange based on availability of their annual reports from 2005 to 2013. Both quantitative and qualitative data were sourced. Data collected were analysed with the aid of descriptive statistics such as; mean, median; and inferential statistics using ordinary least square regression analysis. The study found that firms size (t=10.3263; p˂0.05) profitability (t=7.6913; p˂0.05) and number of analysts analyzing the firms (t=2.4684; p˂0.05) were the three major factors that had positive influence on socio-environmental reporting of listed firms in Nigeria. However, socioenvironmental performance had significant (t=-3.3508; p˂0.05) negative influence on socio-environmental reporting in Nigerian quoted companies. The study concluded that socio-environmental accounting could be employed to enhance sustainable business practice in quoted companies.