Effect of Sustainability Accounting on Universities Financial Performance in Nigeria
Author(s)
Osho Augustine E , Akinola Akinwumi Olusegun ,
Download Full PDF Pages: 116-124 | Views: 801 | Downloads: 250 | DOI: 10.5281/zenodo.3510060
Abstract
The study was on the effect of sustainability accounting on Universities financial performance in Nigeria. The objective of the study was to examine the effect and usefulness of sustainability on financial performance of Universities in Nigeria. The Study is established on stewardship theory and stakeholders’ theory. Descriptive and Ex-post facto research design was adopted in the Study. Panel least square regression was used to analyze the data to test for the relationship between the sustainability accounting variables (corporate social responsibility expenditure, total personnel costs) and Financial Performance (Return on Equity). Findings revealed that there is an insignificant positive relationship between corporate social responsibility expenditure and financial performance of Universities in Nigeria. Also, total personnel cost has no significant effect on return on equity of Universities in Nigeria. The Study concluded that Universities should adopt sustainability accounting initiatives to enable them identify, allocate and measure environmental and social cost affecting the Universities and provide them with strategies and techniques for managing corporate, environmental, social and economic performance. Therefore, it was recommended that professional and regulatory bodies should put more effort into developing standards to regulate and guide sustainability accounting in the Universities financial system.
Keywords
Corporate Social Responsibility Expenditure, Financial Performance, Return on Equity, Stakeholders’ Theory, Stewardship Theory, Total Personnel Cost.
References
i. Asaolu T. O., Agboola A. A., Ayoola T. J. and Salawu M. K., (2011).Sustainability Reporting in the Nigerian Oil and Gas Sector.Proceedingsof the Environmental Management Conference, Federal UniversityofAgriculture, Abeokuta, Nigeria.
ii. Appah, (2011).Corporate Social Accounting Disclosure.The Journal of Business Management Review.Asian Journal of Business Management, 3(3)145-151.
iii. Carroll, A.B (1991), “The Pyramid of Corporate Social Responsibility: Towards the Moral Management of Organisational Stakeholders, Journal of Business Horizons, 34 (4), 39 – 48.
iv. Christofi, A., Christofi, P. and Sisaye, S., (2012). Corporate sustainability:historical development and reporting practices", Management ResearchReview,35,(2),157–172.
v. Daub, C.,(2016).Assessing the Quality of Sustainability Reporting: AnAlternative Methodological Approach.
vi. Davis, J. H., Schoorman, F. D., & Donaldson, L. (1997).Towards a Stewardship Theory of Management.Academy of Management Review, 22, 20-47.
vii. Donaldson, L. & Davis, J. H. (1991).Stewardship Theory or Agency Theory: CEO Governance and Shareholder Returns. Retrieved from www.agsm.edu.au/eajm /9106/pdf/donaldson.pdf on 17th January, 2016.
viii. Elkington, J. (2004). Enter the triple bottom line. The triple bottom line: Does it all add up, 1-16.
ix. Eshna, V. (2019). Financial Performance - Understanding its Concepts and Importance. Project Management Institute, Inc.
x. Freeman, R.E., (1984) Strategic Management: A Stakeholder Theory’ Journal of Management Studies 39 (1), 1-21.
xi. Freeman, R.E. (1994), “The Politics of Stakeholder Theory: Some Future Directions,” Quarterly Journal of Business Ethics, 4(4), 409-422.
xii. Hearst (2019). Hearst Newspapers, LLC.
xiii. Henderson, S. & Pierson, G. (2004).Issues in financial Accounting French Forest, NSW: Pearson Education Australia.
xiv. Isa, M. A.,(2014) Sustainability reporting among Nigeria food and beveragesfirms. International Journal of Agriculture and Economic Development,2,(1), 1-9.
xv. Jackson, A., Boswell, K. & Davis, D.,( 2011) Sustainability and triple bottomline reporting, What is it all about? International Journal of Business,Humanities and Technology, 1, (3), 55.
xvi. Juhmani (2014). Determinants of corporate social and environmental disclosure on websites, Universal Journal of Accounting and Finance 2(4).
xvii. Muhammad, K. K., Mohammad, N & Muhammad, I. (2015). Determinants of financial performance of financial sectors (An assessment through economic value added). Munich University Library in Germany.
xviii. Montanaro, M. K. (2013). The Influence of Financial Performance on Higher Education Academic Quality. St. John Fisher College Fisher Digital Publications, Education Doctoral. Paper 117.
xix. Nnamani, J.N., Onyekwelu, U.L., &Ugwu, O.K., (2017). Effect of Sustainability Accounting and Reporting on Financial Performance of Firms in Nigeria Brewery Sector.European Journal of Business and Innovation Research, 5(1) 1-15.
xx. Olayinka, M.U. &Temitope, O.F. (2011). Corporate Social Responsibility and financial performance: The Nigerian Experience. Journal of Economic and Sustainability Development, 3(4):44-54.
xxi. Onyekwelu&Ekwe, (2014).Does corporate social responsibility predicate good financial performance? ESUT Journal of Management Sciences, 8(1)1-10.
xxii. Onyekwelu, U.L. &Ugwuanyi, B. U.(2014). Corporate social accounting and the enhancement of information disclosure among firms: A study of selected firms in Nigeria. Journal of Economics and Sustainable Development, 5 (6) 35-44.
xxiii. Osho, A. E. (2017). Impact of Forensic Accounting on University Financial System in Nigeria. European Scientific Journal. 13 (31): 571-590.
xxiv. Senge, C. (2009). The necessary revolution working together to create a sustainable world Nicholas, Brealey Publishing.
xxv. Soderstrom, N., (2016) Sustainability reporting: Past, present, and trends for the future. Insights Home, 13, 31-37.
xxvi. Somoye, R.O.C & Osho, A.E. (2017). Forensic accounting on university financial system in Nigeria. Implication for sustainable development. Proceedings of the 1 International Conference on achieving sustainable development goals in Nigeria by the Year 2030, October 25-27, 2017.
xxvii. Tangen, S., (2003).An overview of frequently used performance measures, Work Study, 52(7), 347-354,
Cite this Article: