FIRMS’ FINANCIAL CHARACTERISTICS AND SUSTAINABILITY REPORTING OF LISTED MANUFACTURING COMPANIES IN NIGERIA

The study empirically examined the firms’ characteristics and the level of sustainability reporting of listed manufacturing firms in Nigeria. Three hypotheses were formulated in line with the objectives of the study. Ex-post facto research design was adopted in the study. The study population was made up of 28 quoted industrial and natural resources manufacturing firms in Nigeria. Sample size of 23 was determined using Taro Yamane’s formula while purposive sampling technique was used to select the samples. Secondary sources of data were collected through content analysis method based on sustainability index with 28 items in line with International Integrated Reporting Council (IIRC, 2013) and reviewing of the firms’ annual reports from 2015-2024. The data obtained were analysed using descriptive statistics and multiple regression analysis. The results revealed that liquidity has significant positive influence on sustainability reporting; leverage has significant negative influence on sustainability reporting; firm size has significant positive influence on sustainability reporting; liquidity, leverage and firm size have joint significant influence on sustainable capital reporting of the selected manufacturing firms in Nigeria. Thus, it was concluded from the study that firms’ financial characteristics are predicted to aggregately determined sustainability reporting in Nigeria. It was recommended among others that there is serious need to improve sustainability reporting by the stringent mandatory reporting, efforts of the Big 4 auditors and NSE are highly needed for sustainability reporting by firms while making a clarion call for integrated reporting (IR) adoption soonest in Nigeria.