Board Members' Education Diversity and Sustainability Reporting

GOLD, N.O., AIFUWA, H.O., USMAN, M.K., SUBAIR, M.L., OSAZEVBARU, A., & OLOYEDE, B.M. (2021). “Board Members’ Education Diversity and Sustainability Reporting.” Annals of Spiru Haret University. Economic Series, 21(1), 109-129, doi: https://doi.org/10.26458/2115

22 Pages Posted: 21 Apr 2021

See all articles by Nusirat Gold

Nusirat Gold

Kwara State University

Hope Osayantin Aifuwa

Department of Accounting, Faculty of Management Sciences, University of Benin, Benin City

Muhammed Kamaldeen Usman

Kwara State University

Muhammed Lawal Subair

Kwara State University

Albert Osazevbaru

University of Benin

Betsy Moroyin Oloyede

Central Bank of Nigeria

Date Written: April 8, 2021

Abstract

The objective of this study is to investigate the influence of an educationally diverse board on sustainability reporting of listed consumer goods in Nigeria. for the period 2014-2019. We developed a sustainability disclosure index using the Global Reporting Initiative (GRI) guidelines to score the information content of annual reports relating to sustainability performance. Board members’ education level and background were used to proxy education diversity in the boardroom. We employed descriptive and inferential statistics to summarize the data and to draw an inference on the population studied. Results from the panel least squares regression revealed that board educational background diversity positively and significantly affects the sustainability reporting of consumer goods firms in Nigeria. However, we found no evidence on the nexus between diversity in the level of education of board members and sustainability reporting. The study concluded that board education diversity influences sustainability reporting in Nigeria. Consumer goods firms should frequently conduct workshops and symposiums on environmental and social reporting issues for their board members and employ directors from a diverse educational background into the board.

Keywords: education level diversity; education background diversity; sustainability reporting; global reporting initiative, consumer goods firms

JEL Classification: M10, M14, M41, M48

Suggested Citation

Gold, Nusirat and Aifuwa, Hope Osayantin and Usman, Muhammed Kamaldeen and Subair, Muhammed Lawal and Osazevbaru, Albert and Oloyede, Betsy Moroyin, Board Members' Education Diversity and Sustainability Reporting (April 8, 2021). GOLD, N.O., AIFUWA, H.O., USMAN, M.K., SUBAIR, M.L., OSAZEVBARU, A., & OLOYEDE, B.M. (2021). “Board Members’ Education Diversity and Sustainability Reporting.” Annals of Spiru Haret University. Economic Series, 21(1), 109-129, doi: https://doi.org/10.26458/2115, Available at SSRN: https://ssrn.com/abstract=3822309

Nusirat Gold

Kwara State University ( email )

Department of Public and Environmental Health
Malete, Kwara State 240101
Nigeria

Hope Osayantin Aifuwa (Contact Author)

Department of Accounting, Faculty of Management Sciences, University of Benin, Benin City ( email )

Edo State, Nigeria
Benin, CA
Nigeria
+2348113232082 (Phone)

Muhammed Kamaldeen Usman

Kwara State University ( email )

Kwara State University Rd
Malete
Nigeria

Muhammed Lawal Subair

Kwara State University ( email )

Kwara State University Rd
Malete
Nigeria

Albert Osazevbaru

University of Benin ( email )

Edo State, Nigeria
Benin City, DE EDO State
Nigeria

Betsy Moroyin Oloyede

Central Bank of Nigeria ( email )

Plot 33, Abubakar Tafawa Balewa Way
Central Business District, Cadastral Zone
Abuja
Nigeria

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