Corporate social environmental reporting and stock prices: an analysis of listed firms in Nigeria

Auditing has a very important role in the economic life and the auditor’s report is considered as the end of accounting information system in the enterprise, where it gives full and thorough summary of information content. So, this study aims to identify the existence level and form of financial market reaction on the auditor report by defining the change impact of the external auditor’s opinion on the stock prices of service companies listed in Amman Stock Exchange (ASE) in the period 2010–2017. The study population consists of all the 37 service companies listed in ASE, in which the audit report type has changed from unqualified to qualified and vice versa, where the number of observations was 48 – 32 from unqualified to qualified and 16 from qualified to unqualified. The results showed that there is statistically significant difference of stock prices after changing the report type from unqualified to qualified, where its prices declined as a result of this change, while there weren’t any statistical differences of stock prices as a result of changing the report type from qualified to unqualified. So, companies must pay more attention to the auditor report issued on its behalf, and work at its best to keep this report unqualified.

This research evaluates the role of environmental pressure on the extend of environmental disclosure of South African banks. Although much research on corporate sustainability disclosure exists, this research is unique since little of the previous research in South Africa has given a closer examination of environmental pressure implication on the banking sector environmental disclosure. Research data were collected from secondary source, which are available from the sustainability reports of the sample of banks. Data were arranged and analyzed by means of the panel data multiple regression. Findings from the analysis showed that none of the seven environmental pressure variables had a significant relationship with banks’ environmental disclosure, which confirms assertion in the literature that banks are not much concerned with environmental issues. In conclusion, the research made some recommendations, which include that future researchers should expand the number of banks by including other financial institutions. Additionally, more research should be conducted to ascertain why external pressure is not very effective in motivating banks’ environmental disclosure as found in this study. Hence, the suggested question for further research is “what motivates bank’s environmental disclosure” and “do banks internalize or externalize their environmental costs”.

Rapid changes in business transactions and technology development have made risk-based management a significant issue for business entities. The ability in managing risk would lead to a better firm value. This study investigates the effect of enterprise risk-based management disclosures (ERMD) and intellectual capital (IC) on firm value. It also tests the moderating effect of profitability on the relationship ERMD and IC with firm value. It examines the annual reports of 49 finance firms listed on the Indonesia Stock Exchange (IDX). The data cover three years, from 2016 to 2018. It employs panel data regression to test the hypotheses. The results show that the effect of ERMD and IC on firm value is partially and positively moderated by profitability. The findings show that the application of ERDM and IC can increase firm value. The originality of this study is that profitability can moderate the effect of ERMD and IC on firm value. The increase of ERMD and IC management within the company must be balanced with profitability to raise capital from outside the company to increase firm value.

Acknowledgment
The Research was conducted with the support of the Universitas Riau, Indonesia.