OMOIKE, OSEREME AMIOLEMEN and Covenant University, Theses (2020) CORPORATE SOCIAL ENVIRONMENTAL REPORTING, EARNINGS MANAGEMENT AND QUOTED FIRM SHARE PRICES IN NIGERIA. ["eprint_fieldopt_thesis_type_phd" not defined] thesis, Covenant University.
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Abstract
Non-financial disclosure has begun to generate as much reactions on firm share prices as financial disclosure. Hence, stakeholders are beginning to pay more attention to activities of Corporate Social Environmental Reporting (CSER) and Earnings Management (EM). This heightened interest has exposed the need for managers to maximize investment in CSER activities, understand the role of EM in determining share price and the impact of firm share price performance on activities of CSER and EM. It is against this backdrop that this study disaggregates the various dimensions of CSER. The study empirically examined Corporate Social Environmental Reporting, Earnings Management and quoted firm share prices for selected non-financial firms in Nigeria. This study also examined the impact of firm share prices on the activities of CSER and EM. To achieve this, a sample size of 70 listed companies from the Nigerian non-financial sector was selected using a Burley’s formula popularized by Taro Yamane for sample size determination. The study engaged the use of content analysis of the selected listed firms. The annual reports and corporate websites were also utilized to determine the CSER disclosure index and its impact on the firm share prices for a period of seven years (2011-2017). Similarly, the discretionary accruals were obtained to ascertain the impact of EM on firm share prices for the period. The study utilized panel data and Granger Causality to test the hypotheses and find out the causal relationship between the variables. Findings from the study show that only the environmental dimension of CSER has a significant and bi-directional relationship with firm share prices. However, the other dimensions of CSER have an insignificant bi-directional relationship with share prices. The study also observed that the relationship between earnings management and firm share prices is uni-directional and insignificant. The various dimensions of CSER have a significant relationship with firm share prices. The study, therefore, concludes that only activities of CSER have significant impact on firm share prices. Earnings management does not have a significant impact on firm share prices because there is an improved awareness on the part of investors. In other words, investors see through earnings manipulation. The study recommends that researchers adopt a bi-directional approach in estimating the relationship between the environmental dimension of CSER and firm share prices.
| Item Type: | Thesis (["eprint_fieldopt_thesis_type_phd" not defined]) |
|---|---|
| Uncontrolled Keywords: | Corporate Social Environmental Reporting; Disclosure; Earnings Management; Firm value; Firm performance; Non-financial sector |
| Subjects: | H Social Sciences > HF Commerce > HF5601 Accounting |
| Divisions: | Faculty of Law, Arts and Social Sciences > School of Social Sciences |
| Depositing User: | Mrs Hannah Akinwumi |
| Date Deposited: | 05 Mar 2021 02:26 |
| Last Modified: | 05 Mar 2021 02:26 |
| URI: | http://eprints.covenantuniversity.edu.ng/id/eprint/13868 |
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