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Environment operational performance effect on costs of capital structure financing of the Nigerian listed manufacturing companies


Citation

Abba, Magaji and Moh’d Said, Ridzwana and Abdullahi, Amalina and Mahat, Fauziah (2017) Environment operational performance effect on costs of capital structure financing of the Nigerian listed manufacturing companies. International Journal of Accounting and Financial Reporting, 7 (1). 372 - 391. ISSN 2162-3082

Abstract / Synopsis

Environmental performance of the Nigerian companies has become an issue of interest due to the negative effect of the companies' operations to the natural environment. The performance affects costs of capital structure financing because of its risk implication. Thus, the study examined the performance effect on costs of capital structure financing. Unlike the resource-depletion view of the performance, it is posited that environment operational performance lowers the companies’ costs of capital structure financing. With analysis of 53 listed companies from Nigerian Stock Exchange Market, negative effects are found between the environment operational performance and costs of capital structure financing of the companies. This aligned with instrumental stakeholder's theory of favourable resource allocation arising from improved environmental performance. It contributed to the understanding of capital structure financing advantage that can be achieved with environmental performance, thus supported the win-win view of corporate environmental performance.


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Additional Metadata

Item Type: Article
Divisions: Faculty of Economics and Management
Putra Business School
DOI Number: https://doi.org/10.5296/ijafr.v7i1.11381
Publisher: Macrothink Institute
Keywords: Environment operational performance; Environmental risk; Instrumental stakeholders; Costs of capital structure financing; Nigerian companies
Depositing User: Nurul Ainie Mokhtar
Date Deposited: 14 Jan 2019 15:38
Last Modified: 14 Jan 2019 15:38
Altmetrics: http://www.altmetric.com/details.php?domain=psasir.upm.edu.my&doi=10.5296/ijafr.v7i1.11381
URI: http://psasir.upm.edu.my/id/eprint/61743
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