Firms Attributes and Sustainability Disclosures: A Study of Sensitive Environmental Sector in Nigeria

This study investigates the impact of firm attributes on sustainability disclosure, focusing on a comparative analysis of environmentally sensitive firms. The specific objective is to ascertain the discrepancy in the influence of firm size on sustainability disclosure within the more environmentally sensitive industry. Employing a longitudinal and ex-post facto research design, the study encompasses a population of one hundred and fifty (150) listed firms in Nigeria. A sample of 20 firms from both financial and non-financial sectors was selected using a judgmental sampling technique. Data were gathered from the annual reports and accounts of the chosen firms, as well as the fact book of Nigeria Exchange Group (NGX) spanning from 2012 to 2021. Hypotheses were tested using panel regression and t-test techniques. The key findings indicate a significant disparity in the impact of firm size on sustainability disclosure within the more environmentally sensitive industry (P = 0.0002). In conclusion, the adoption of sustainable development strategies by a company reflects management's consideration of various stakeholders' perceptions. The study recommends that regulators prioritise environmental and social issues to foster sustainable practices, particularly through increased disclosure of environmental, social, and governance factors.