The Influence of Non-Financial Reporting on Stakeholder Engagement in Nigerian Businesses
- Project Research
- 1-5 Chapters
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- Table of Content: Available
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- NGN 5000
Background of the Study
Non-financial reporting, encompassing ESG disclosures and sustainability reporting, has emerged as a vital mechanism for fostering transparency and stakeholder trust. Unlike traditional financial reporting, non-financial reporting focuses on a firm's social and environmental impact, providing stakeholders with a holistic view of its operations. This practice has gained traction globally as a means of enhancing stakeholder engagement and fostering long-term business relationships (UNCTAD, 2024).
In Nigeria, where businesses face growing pressure to demonstrate their commitment to sustainability, non-financial reporting has become increasingly important. Stakeholders, including investors, customers, and regulators, are demanding greater transparency in how companies address environmental and social issues. However, the extent to which non-financial reporting influences stakeholder engagement in Nigeria remains underexplored, warranting further investigation (Eze & Nwogu, 2023).
Statement of the Problem
Despite the growing adoption of non-financial reporting in Nigeria, many businesses struggle to effectively engage stakeholders through these disclosures. Limited expertise, lack of standardization, and insufficient regulatory oversight contribute to inconsistent reporting practices. As a result, stakeholders may question the credibility of reported information, undermining its potential to enhance engagement (Chukwu & Adeola, 2024).
This study examines the influence of non-financial reporting on stakeholder engagement in Nigerian businesses, identifying best practices and areas for improvement.
Objectives of the Study
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To evaluate the current state of non-financial reporting in Nigerian businesses.
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To analyze the impact of non-financial reporting on stakeholder engagement.
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To identify challenges and propose strategies for improving non-financial reporting in Nigeria.
Research Questions
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What is the current state of non-financial reporting in Nigerian businesses?
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How does non-financial reporting influence stakeholder engagement in Nigeria?
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What challenges hinder the effectiveness of non-financial reporting in Nigeria?
Research Hypotheses
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Non-financial reporting does not significantly influence stakeholder engagement in Nigeria.
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Challenges in non-financial reporting do not significantly affect its adoption by Nigerian businesses.
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The current state of non-financial reporting is not significantly associated with stakeholder trust.
Scope and Limitations of the Study
This study focuses on non-financial reporting practices and their impact on stakeholder engagement in Nigeria between 2023 and 2025. Limitations include varying levels of adoption and industry-specific differences.
Definitions of Terms
Non-Financial Reporting: Disclosure of a firm's social, environmental, and governance performance.
Stakeholder Engagement: Interaction between an organization and its stakeholders to build trust and collaboration.
Sustainability Reporting: A subset of non-financial reporting focused on environmental and social impacts.
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