ANTHROPOGENIC REPORTING AND MARKET PERFORMANCE: A STUDY OF NIGERIAN QUOTED COMPANIES

Authors

  • Okoughenu, Sunday Azeita (Ph.D, CNA) Department of Accounting and Finance, Faculty of Management Sciences, Ajayi Crowther University, Oyo, Oyo State, Nigeria.
  • Usman, Sadiq Akindamola (ACA) Federal College of Education (Special), Oyo, Oyo State, Nigeria.

Keywords:

Anthropogenic Reporting, Market Performance, Nigerian Quoted Companies, Stakeholders’ Theory

Abstract

The demand for the disclosure of both financial and non-financial information in the financial reports of a business entity has raised a global concern in the recent time due to the shortcomings weaknesses on the conventional financial reports. The disclosure of financial and non-financial information will not only enhance stakeholder’s decisions but might be crucial in determining the market performance of the business entity. The market performance of the business entity should be determined as it relates to the size of the firm, employees’ warfare/training, environmental maintenance and quality governance mechanism. Based on this, effort is required towards making the financial reports to incorporate both financial and non-financial information. In view of this, it became important to know the effect of anthropogenic reporting on market performance. Therefore, this study investigates the effect of anthropogenic reporting on market performance of the Nigerian quoted companies. Out of the one hundred and seventy-seven (177) total population of companies quoted in Nigeria between 2016 and 2020, a sample of one hundred and twenty-two (122) companies were randomly selected and analysed with the use of ordinary least square regression techniques. The result revealed that anthropogenic reporting (proxies; firm size) had positive and significant effect on market performance (Tobin Q). The result also revealed employees’ warfare/training, environmental maintenance cost and governance mechanism had negative and insignificant effect on market performance (Tobin Q). Hence the study concludes that anthropogenic reporting (proxies firm size) is the only variable that have significant effect on market performance of Nigerian quoted companies. The study recommends that the management of the Nigerian quoted companies should invest more on the acquisition of assets which will translate to increase in the firm size and enhance more on the market performance of the company.

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Published

2022-08-23

How to Cite

Okoughenu, S. A., & Usman, S. A. (2022). ANTHROPOGENIC REPORTING AND MARKET PERFORMANCE: A STUDY OF NIGERIAN QUOTED COMPANIES. Advance Journal of Management, Accounting and Finance, 7(8). Retrieved from https://aspjournals.org/ajmaf/index.php/ajmaf/article/view/28

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