Board Attributes and Environmental, Social and Governance Disclosure of Oil and Gas Companies Listed on the Nigeria Exchange Group
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BOARD ATTRIBUTES AND ENVIRONMENTAL, SOCIAL AND GOVERNANCE DISCLOSURE OF OIL AND GAS COMPANIES LISTED ON THE NIGERIA EXCHANGE GROUP
By
Department of Accounting, Joseph Sarwuan Tarka University, Makurdi
E-mail: utilebem@gmail.com
Department of Accounting, Joseph Sarwuan Tarka University, Makurdi
Department of Accounting, Joseph Sarwuan Tarka University, Makurdi
Department of Accounting, Joseph Sarwuan Tarka University, Makurdi
Abstract
This study examined the effect of board attributes on environmental, social and governance disclosure (ESG) of Oil and Gas companies listed on the Nigeria Exchange Group (NGX). Specifically, the study examined the effect of board magnitude, board cooperate social responsibility committee, board financial expertise and the independence of the board of directors on the ESG disclosure of Oil and Gas companies listed on the NGX. The study adopted the ex-post facto research design; Data were sourced from annual report of Oil and Gas companies listed on the NGX. The major technique of data analysis was the multiple regression analysis. Findings from the analysis revealed that; Board magnitude, and independent board of directors have no significant effect on ESG disclosure by oil and gas companies listed on the NGX. It was also found that board Cooperate Social Responsibility Committee, board financial expertise and board meetings have significant effect on ESG disclosure of Oil and Gas companies listed on the NGX. It was recommended that since board size of the companies investigated is large, monitoring responsibilities should be given to some members of the board to check ESG disclosure. Also, priority should be given to CSR committees to enable them properly check ESG activities and recommend proper disclosure. It was further recommended that the composition of the board should be made up of more members with financial expertise to further boost ESG disclosure. In addition, it was recommended that Oil and Gas companies should encourage the appointment of more non executive independent directors. It was also recommended that since board meeting enhances ESG disclosure, the board is encouraged to meet more frequently to improve ESG disclosure.
Key words: Environment, Social, Governance, Board size, Board independence, Board meeting and CSR committee.
