Corporate Sustainability Performance and Firm Value: Examining Listed Nigerian Petroleum Companies from Stakeholder and Agency Theories’ Perspectives

IF 0.1 0 RELIGION

global journal al thaqafah Pub Date : 2022-02-28 DOI:10.7187/gjatsi022022-2

Mahmud Bashiru, Fathyah Hashim, Yuvaraj Ganesan

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引用次数: 1

Abstract

There is an increasing global concern about corporate sustainability performance. Many companies are criticized for the negative societal and environmental impact of their activities. For long-term sustainability, companies are faced with the challenge of how to manage relationship with the stakeholders. Corporate sustainability performance (CSP) requires companies to integrate economic performance with social and environmental performance. The main purpose of this study is to examine the effect of corporate sustainability performance on firm value of listed Nigerian Petroleum Companies and the moderating role of CEO power on such relationship. The research model is drawn from stakeholder and agency theories. The influence of CSP on firm value is established from stakeholder theory while the moderating role of CEO power is explained from the agency theory approach. Disclosure index via content analysis will be used in measuring CSP of the listed companies while Tobin’s q will be used in measuring firm value. The findings from this research will extend the application of stakeholder theory in utilizing CSP to manage relationship with stakeholders and the CEO’s role in reducing agency cost of CSP initiatives. The result will also give prospective shareholders an insight into the role of CSP on firm value.

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企业可持续发展绩效与企业价值:基于利益相关者与代理理论的尼日利亚石油上市公司研究

全球越来越关注企业的可持续发展绩效。许多公司因其活动对社会和环境的负面影响而受到批评。为了长期可持续发展，公司面临着如何管理与利益相关者关系的挑战。企业可持续发展绩效(CSP)要求企业将经济绩效与社会和环境绩效相结合。本研究的主要目的是考察尼日利亚上市石油公司可持续发展绩效对公司价值的影响，以及CEO权力对这种关系的调节作用。研究模型借鉴了利益相关者理论和代理理论。CSP对企业价值的影响从利益相关者理论出发，CEO权力的调节作用从代理理论出发。采用内容分析的披露指数来衡量上市公司的CSP，采用托宾q来衡量公司价值。本研究的结果将扩展利益相关者理论在利用CSP管理与利益相关者关系方面的应用，以及CEO在降低CSP计划代理成本方面的作用。该结果还将使潜在股东深入了解CSP对公司价值的作用。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

global journal al thaqafah RELIGION-

CiteScore

0.20

自引率

0.00%

发文量

期刊介绍： Global Journal Al-Thaqafah (GJAT) is a biannual journal, published by Universiti Sultan Azlan Shah (USAS), Perak, MALAYSIA. This journal is purely academic and peer reviewed. It caters to articles, research notes and reports, and book reviews on diverse topics relating to Islam and the Muslims. This journal is intended to provide an avenue for researchers and academics from all persuasions and traditions to share and discuss differing views, new ideas, theories, research outcomes, and socio-cultural and socio-political issues that impact on and directly or indirectly affect the Muslim World with the sole purpose of making this world a better place to live in. GJAT started in 2011 and was later granted the SCOPUS status in March 2014. Since then, GJAT has published numerous articles and materials from international contributors. GJAT welcomes contributions from all: academics, experts, and professionals. All articles submitted must be original, academic, of high scholarly standard, and meet the strict SCOPUS requirements. GJAT prioritizes articles that discuss fundamental issues and are of global relevance and importance, and publishes all articles that fulfill the basic criteria without prejudice (kindly refer to "Submission and Guidelines"). All decisions by GJAT to publish any article are final.