Corporate Sustainability Reporting and Corporate Financial Performance of Brewery Firms Quoted On The Nigerian Stock Exchange

Abstract

The study examined the effect of Corporate Sustainability Reporting on Financial Performance of brewery firms quoted on the Nigeria Stock Exchange (NSE). The objective was to determine the effect of Corporate Sustainability Reporting measured by the variables in the Global Reporting Initiative (GRI) Standards on Return on Equity, Tobin’s Q and Asset Growth of brewery firms quoted on the NSE. Ex-post facto research design was adopted. The population of the study comprised the entire five brewery firms quoted on the NSE as at December 2018. The study sampled the entire five firms. Secondary data obtained from the selected firms’ annual reports were used. Descriptive statistics and regression analysis were employed in data analysis. Findings revealed that Corporate Sustainability Reporting has significant effect on Return on Equity and Tobin’s Q of brewery firms quoted on the Nigerian Stock Exchange but has no significant effect on asset growth of the brewery firms.  The researchers recommended that the Financial Reporting Council of Nigeria should consider making sustainability reporting compulsory for all Nigerian quoted firms as this will help in assessing the corporate governance quality as well as strategic management of firms to sustainable future thereby achieving the benefits relating to sustainability reporting.