Green Accounting Practice and listed Oil and Gas Companies Performance Metric in Nigeria
Keywords:
Green Accounting, Financial Performance, Green Investment, Green Activities, Green Initiative
Abstract
Green accounting practices have been getting attention from academicians, scholars, professional accounting bodies and practitioners. As one of the fastest – growing developing nations, Nigeria is also concerned about the ecological challenges and their potential impacts on different sectors’ overall performance. The aim of this study is to empirically explore the relationship between green accounting practice and listed oil and gas companies performance metrics in Nigeria. Panel data on different types of green accounting practice and Tobin’s Q from 2010-2023 were collected from the Nigerian exchange group, annual report of listed oil and gas companies, and federal inland revenue service pro-mass descriptive statistics, panel unit root test Hausaman Test, Multiple Regression Analysis, Panel Cointegration Test, Pairwsie Panel Causality Test and Error Correction Model Test were used in analyzing the data. The results indicate that green accounting practice significantly relate to Tobin’s Q; explain about 83.4% of the total variation in Tobin’s Q Green Investment, initiatives, activities were each found to significantly relate to Tobin’s Q. The study therefore conclude that green accounting practice has the potency to make significant contribution to performance metric and recommends that oil and gas firms should develop sustainability strategies aligned with their business goals, prioritize green investments with high Tobin’s Q, involve stakeholders in decision-making, monitor and measure impact, collaborate with partners, and communicate effectively.
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References
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Eze, J. C., &Nkwo, F. N. (2024). Green Accounting Practices: A Comparative Analysis of Environmental Accounting and Natural Resource Accounting in Business Operations. International Journal of Advanced Academic Research, 10(2), 43-57.
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Gonawan, H., &Evriani, S. E. (2022). Analisispengaruhkinerjakeuanganterhadapprofitabilitas (bank umum syariah di Indonesia tahun 2016-2020). JurnalAkuntansi Dan Ekonomi STIE YBPK Palangka Raya (JAESYP), 1(1), 1–4.
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Published
2024-07-08
How to Cite
LEKIA PRECIOUS, D., IGNATIUS IRONKWE, U., & NKEM NWAIWU, J. (2024). Green Accounting Practice and listed Oil and Gas Companies Performance Metric in Nigeria. GPH-International Journal of Social Science and Humanities Research, 7(06), 01-20. https://doi.org/10.5281/zenodo.12684135
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