Environmental and Social Accounting Practices, and Financial Performance of Cement Companies: Empirical Evidence from Nigeria

Engaging in environmental and social activities and disclosing same in the annual financial or sustainability report by business entities has been controversial for over three decades among stakeholders across different industries. Therefore, the objective in the research was to test the empirical nexus of social investment cost (SIC) and environmental protection cost (EPC) in relation to financial performance of quoted cement companies in Nigeria. Financial performance was further denominated into sales turnover (ST) and market value of firms (MVF) to respectively develop two hypotheses in their alternative forms. While the researchers adopted ex poste facto research design, secondary data were obtained from relevant annual financial reports and database of the Nigerian stock exchange for 2009-2017. Descriptive statistics were utilized for data presentation before estimating the test result by adopting multivariate regression model. However, the test result for H1 indicated significant P-value and F-value at 5% level of significance. In addition to accepting H1, positive Coefficients by SIC, EPC, and control variable (total assets-TA) demonstrated a strong adjusted R-square of 65.2483% association with ST, although, the coefficient for intercept was negative. Similarly, the test result for H2 also indicated significant P-value and F-value at 5% level of significance. In addition to accepting H2, positive coefficients of intercept, EPC, and the control variable, market capitalization (MCAP) of cement companies in Nigeria cumulatively contributed a weak adjusted R-square of 25.213% to MVF. However, the coefficient for SIC was negative. Besides observing low level and inconsistent environmental and social accounting practices (ESAP) among cement companies in Nigeria, the researchers concluded that such insignificant level of ESAP by such companies influenced their financial performance. Hence, the researchers recommended cement companies to adopt ethical approach towards expanding investment in ESAP. Keywords: Environmental and Social Accounting Practices, Corporate Social Responsibility Disclosures, Sustainability Reporting, Financial Performance, Accounting Measure of Financial Performance, Capital Market measure of Financial Performance DOI: 10.7176/EJBM/12-20-07 Publication date:July 31st 202

Social And Environmental Responsibility Accounting Practices and Market Value Of Quoted Oil And Gas Firms In Nigeria

Engaging in social and environmental activities as core components of CSR is rapidly growing as one of globally acceptable best practices for sustainability in business. Beyond their acclaimed societal benefits, the specific implication of social and environmental responsibility accounting practices (SERAP) on the economic performance of business entities is still a debate in many territories and industries. Therefore, the main objective in this study is to determine the nexus between SERAP and financial performance of quoted oil and gas firms in Nigeria. Whereas the measures of SERAP are environmental protection costs (EPC), community education and training costs (CETC), and community health related costs (CHRC), the proxy for financial performance is the market value of firms. Adopting ex post facto research design and modified Ohlson 1995 share price model, the general model demonstrated insignificant positive adjusted R-square. As all the P-values are not statistically significant, the unstandardised coefficients for EPC, CETC, and CHRC reveal a mix of positive and negative insignificant indices at varying extents. It was concluded that the level of SERAP by oil and gas firms in Nigeria did not significantly influence their capital market valuation. While the researcher further inferred that social and environmental public concerns rank as the primary responsibility of the government which receives taxes from business entities, oil and gas companies may cautiously engage in SERAP to avert financial losses through restiveness and agitations from some disgruntled stakeholders. More so, as ethical practices for promoting their going concern philosophy is mainly attainable within a wholesome planet and healthy people. Keywords: Social and Environmental responsibility Accounting Practices (SERAP), environmental protection costs, community education and training costs, community health related costs, Capital Market performance, Value of Oil and Gas Companies. DOI: 10.7176/EJBM/13-12-07 Publication date:June 30th 202

Ethical Approach to Sustainability Accounting Practices and Financial Performance of Aviation Companies in Nigeria: A Conceptual Model

Considering the significance of environmental and social hazards alongside the inevitable economic importance of the aviation industry, the researcher examined the general impact of the ethical approach to environmental and social Sustainability Accounting Practices (SAP) on their performance in Nigeria. Due to a lack of financial data in the public domain of Nigeria’s aviation industry to empirically measure performance indices, the researcher adopted an exploratory research design in combination with an integrative conceptual and a practical case review as alternative analytical models. The case result and majority of findings among reviewed researches conducted in other countries did not only support a positive association between sustainability accounting practices and financial performance of aviation companies but also demonstrated a significant influence of the ethical dimension of SAP in such nexus. Drawing from the results of reviewed studies and findings from case analysis, therefore, the researcher hypothetically concluded that a positive association exists between SAP and financial performance in Nigeria's aviation industry.  However, the researcher further attributed the scarcity of relevant financial data for empirical analysis to a poor listing of aviation companies on the Nigerian Stock Exchange (NSE), especially the domestic airlines. In addition to developing a hypothetical background and raising research questions for future empirical investigation, it was recommended among other things that aviation companies in Nigeria should exploit the ethical dimension of corporate social responsibility as a practical strategy for entrenching their "going concern" objective in a long-term good corporate financial outlook

Corporate Sustainability Practices and Corporate Financial Performance of Selected Breweries in Nigeria

Purpose: The nexus between Corporate Sustainability Practices (CSP) and Corporate Financial Performance (CFP) has over the years yielded a mix of positive, negative, and neutral associations across industries and territories. Considering the paradox of economic benefits against negative sustainability implications of manufacturing and consuming alcoholic beverages, the researchers examined the influence of CSP on the CFP of selected breweries in Nigeria. In two hypotheses, the proxies for CSP are Social-Infrastructural-Development Cost, Community-Education-and-Training Cost, and Community-Health-Related Cost, whereas the determinants for CFP are return on equity and prices of shares. Methods: Adopting a causal-comparative research design, data were obtained from the annual financial reports of the companies and the Nigerian Stock Exchange factbooks. The multivariate regression analysis was deployed for estimating the results. Results: The general models for testing hypotheses one and two indicated that corporate sustainability practices do not significantly influence either the return on equity or the market prices of the shares of breweries in Nigeria. Implications: The researchers concluded that changes in the level of CSP were not enough for predicting variations in the CFP of breweries in Nigeria. It was, however, observed that awareness about CSP and the related value is still low among capital market investors and consumers in Nigeria. Hence, breweries are encouraged to be consistent with such practices as the associated benefit may be incremental

Outcome of Late Presentation of Posterior Urethral Valves in a Resource-Limited Economy: Challenges in Management

Delayed presentation of patients with posterior urethral valve with complications like severe urosepsis, uremia, and anemia are seen in our setting. Renal replacement therapy which should have been offered to these patients is not readily available for children in our country. The aim of this study is to determine the pattern of late presentation and outcome of management of posterior urethral valve in a resource-limited setting. A descriptive retrospective study (1997–2009) was conducted. Data including pattern of presentation, duration of symptoms, complications, and outcome of initial management were analyzed. Twenty-one patients were seen. The median age was 3 years (2 days–13 years). The mean duration of symptoms before presentation was 2.6 years. Nineteen patients (91%) presented with urosepsis while 8 patients (36%) presented with significant renal insufficiency. Laboratory findings varied from-mild-to marked elevation in serum creatinine. Radiological findings confirmed the diagnosis of posterior urethral valve. We concluded that late presentation is common in our setting. This is associated with high morbidity and mortality rates. Efforts at improving awareness and early diagnosis among the health team should be made to stem the tide