Effect of Institutional Factors on Corporate Sustainability Disclosure of Healthcare Companies in Nigeria

Stakeholders now demand more than just financial performance for rational decisions because of growing environmental challenges, societal inequalities as well as governance concerns, hence the need for corporate sustainability disclosure (CSD). This will help strengthen transparency and make organisation behave responsibly. Studies have shown that some factors are responsible for improved reporting on non- financial matters. On this premise, this study is aimed at assessing the effect of institutional factors on CSD. The information is obtained from secondary source, sampling out companies in the health care sector of Nigeria for period of 10 years. The information obtained were analysed using both descriptive (mean, standard deviation, minimum and maximum) and inferential statistics (correlation and regression analysis) respectively. Descriptive statistics result showed a moderate level of sustainability disclosure among health companies. The finding revealed a strong positive correlation between institutional factors pressure on CSD upto +91%. Furthermore, the outcome also revealed a significant positive effect of institutional factors on CSD in healthcare sector of Nigeria with p-value of 0.000 less than significant value of 0.005. The study concludes that institutional factor pressure significantly and positively influence CSD even in Nigeria. Therefore, it recommends strengthening and enforcing of institutional regulatory activities related to sustainability such as compliance monitoring and penalties for non- compliance.