The desire of every shareholder is to see that shareholders’ wealth is given strategic central point attention far and above other priorities of the management. Prior studies have shown that meeting shareholders’ wealth expectations in Nigeria is complex and full of challenges considering the infrastructural deficits, security challenges and lack of corporate legitimacy capable of enhancing shareholders’ wealth in the country. In addition, effective sustainability performance has been advanced as capable of improving corporate performance and increasing shareholders’ wealth. In contributing to knowledge, this study looked at how corporate sustainability affected shareholders' wealth in Nigeria's national banking industry. Using an ex-post facto research design, the study employed secondary data extracted from selected financial institutions from banking institutions. A total of 15 financial institutions were chosen using a purposive sample technique during a 15-year period, from 2008 to 2022, from the population of 65 financial institutions listed in Nigeria. The certification by the external auditors served as the foundation for the data's dependability and authenticity. Inferential (multiple regression) analysis was employed using a pooled panel data analysis. The result showed that corporate sustainability exerted a significant effect on shareholders’ wealth (Adj. R2 = 0.7474, F-stat/Wald test (4, 220) = 18.30, p < 0.05). The study concluded that corporate sustainability had a positive and significant effect on shareholders’ wealth in the national financial sector in Nigeria. Consequent to the results, managers should ensure that effective corporate sustainability policies are instituted and practised in their companies.
| Published in | Journal of Finance and Accounting (Volume 12, Issue 1) |
| DOI | 10.11648/j.jfa.20241201.12 |
| Page(s) | 12-21 |
| Creative Commons |
This is an Open Access article, distributed under the terms of the Creative Commons Attribution 4.0 International License (http://creativecommons.org/licenses/by/4.0/), which permits unrestricted use, distribution and reproduction in any medium or format, provided the original work is properly cited. |
| Copyright |
Copyright © The Author(s), 2024. Published by Science Publishing Group |
Corporate Sustainability, Corporate Governance, Environmental Practice, Financial Sector, Financial Institutions, Firm Size, Shareholders’ Wealth
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APA Style
Osunsusi, A. K., Adegbie, F. F., Anaekenwa, A. T. (2024). Corporate Sustainability and Shareholders’ Wealth in the National Financial Sector. Journal of Finance and Accounting, 12(1), 12-21. https://doi.org/10.11648/j.jfa.20241201.12
ACS Style
Osunsusi, A. K.; Adegbie, F. F.; Anaekenwa, A. T. Corporate Sustainability and Shareholders’ Wealth in the National Financial Sector. J. Finance Account. 2024, 12(1), 12-21. doi: 10.11648/j.jfa.20241201.12
AMA Style
Osunsusi AK, Adegbie FF, Anaekenwa AT. Corporate Sustainability and Shareholders’ Wealth in the National Financial Sector. J Finance Account. 2024;12(1):12-21. doi: 10.11648/j.jfa.20241201.12
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Download@article{10.11648/j.jfa.20241201.12,
author = {Akeem Kolawole Osunsusi and Festus Folajimi Adegbie and Aguguom Theophilus Anaekenwa},
title = {Corporate Sustainability and Shareholders’ Wealth in the National Financial Sector},
journal = {Journal of Finance and Accounting},
volume = {12},
number = {1},
pages = {12-21},
doi = {10.11648/j.jfa.20241201.12},
url = {https://doi.org/10.11648/j.jfa.20241201.12},
eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.jfa.20241201.12},
abstract = {The desire of every shareholder is to see that shareholders’ wealth is given strategic central point attention far and above other priorities of the management. Prior studies have shown that meeting shareholders’ wealth expectations in Nigeria is complex and full of challenges considering the infrastructural deficits, security challenges and lack of corporate legitimacy capable of enhancing shareholders’ wealth in the country. In addition, effective sustainability performance has been advanced as capable of improving corporate performance and increasing shareholders’ wealth. In contributing to knowledge, this study looked at how corporate sustainability affected shareholders' wealth in Nigeria's national banking industry. Using an ex-post facto research design, the study employed secondary data extracted from selected financial institutions from banking institutions. A total of 15 financial institutions were chosen using a purposive sample technique during a 15-year period, from 2008 to 2022, from the population of 65 financial institutions listed in Nigeria. The certification by the external auditors served as the foundation for the data's dependability and authenticity. Inferential (multiple regression) analysis was employed using a pooled panel data analysis. The result showed that corporate sustainability exerted a significant effect on shareholders’ wealth (Adj. R2 = 0.7474, F-stat/Wald test (4, 220) = 18.30, p < 0.05). The study concluded that corporate sustainability had a positive and significant effect on shareholders’ wealth in the national financial sector in Nigeria. Consequent to the results, managers should ensure that effective corporate sustainability policies are instituted and practised in their companies.
},
year = {2024}
}
TY - JOUR T1 - Corporate Sustainability and Shareholders’ Wealth in the National Financial Sector AU - Akeem Kolawole Osunsusi AU - Festus Folajimi Adegbie AU - Aguguom Theophilus Anaekenwa Y1 - 2024/03/13 PY - 2024 N1 - https://doi.org/10.11648/j.jfa.20241201.12 DO - 10.11648/j.jfa.20241201.12 T2 - Journal of Finance and Accounting JF - Journal of Finance and Accounting JO - Journal of Finance and Accounting SP - 12 EP - 21 PB - Science Publishing Group SN - 2330-7323 UR - https://doi.org/10.11648/j.jfa.20241201.12 AB - The desire of every shareholder is to see that shareholders’ wealth is given strategic central point attention far and above other priorities of the management. Prior studies have shown that meeting shareholders’ wealth expectations in Nigeria is complex and full of challenges considering the infrastructural deficits, security challenges and lack of corporate legitimacy capable of enhancing shareholders’ wealth in the country. In addition, effective sustainability performance has been advanced as capable of improving corporate performance and increasing shareholders’ wealth. In contributing to knowledge, this study looked at how corporate sustainability affected shareholders' wealth in Nigeria's national banking industry. Using an ex-post facto research design, the study employed secondary data extracted from selected financial institutions from banking institutions. A total of 15 financial institutions were chosen using a purposive sample technique during a 15-year period, from 2008 to 2022, from the population of 65 financial institutions listed in Nigeria. The certification by the external auditors served as the foundation for the data's dependability and authenticity. Inferential (multiple regression) analysis was employed using a pooled panel data analysis. The result showed that corporate sustainability exerted a significant effect on shareholders’ wealth (Adj. R2 = 0.7474, F-stat/Wald test (4, 220) = 18.30, p < 0.05). The study concluded that corporate sustainability had a positive and significant effect on shareholders’ wealth in the national financial sector in Nigeria. Consequent to the results, managers should ensure that effective corporate sustainability policies are instituted and practised in their companies. VL - 12 IS - 1 ER -
Department of Accounting and Finance, Augustine University, Ilara-Epe, Lagos State, Nigeria
