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Drivers of environmental and social sustainability accounting practices in Nigeria: a corporate governance perspective

Babajide Oyewo (Department of Accounting, University of Southampton, Southampton, UK)
Vincent Tawiah (DCU Business School, Dublin City University, Dublin, Ireland)
Syed Tanvir Hussain (Department of Business and Management, University of Sunderland in London, UK)

Corporate Governance

ISSN: 1472-0701

Article publication date: 19 September 2022

Issue publication date: 15 February 2023




This study aims to investigate corporate governance mechanisms affecting environmental and social sustainability accounting practice (SAP). Four internal (quality of information technology [QIT], market orientation, business strategy and structure of accounting department) and two external (environmental uncertainty and market competition) governance mechanisms were examined.


The population of the study is comprised of 56 publicly listed manufacturing companies on the Mainboard of the Nigerian Stock Exchange. Data were collected using a questionnaire which was completed by senior finance personnel in each company in the sample. Structural equation modelling, logistic regression and quantile regression analysis were used to analyse data.


The results show that the extent to which Nigerian companies have implemented SAP is moderate. The authors find that the level of SAP implementation is significantly associated with market orientation and business strategy, but not with the QIT and structure of accounting department. The results also show that both external corporate governance mechanisms (i.e. environmental uncertainty and intensity of competition) have no significant effect on SAP.

Practical implications

The insignificant influence of external corporate governance mechanisms on SAP corroborates the contention that external pressure on companies to implement sustainability initiatives in developing countries is weak.


This study contributes to the literature on sustainability in developing countries and incrementally adds to knowledge on the corporate governance mechanisms driving SAP in jurisdictions characterised by lax regulatory framework and weak institutional apparatus on sustainability.



The authors thank Guest Editors Prof. Musa Mangena of Nottingham University Business School, The University of Nottingham, United Kingdom and Dr. David Mathuva of Strathmore Business School, Strathmore University, Nairobi, Kenya for helpful comments that greatly improved the paper. We are grateful to two anonymous reviewers for their constructive feedback.


Oyewo, B., Tawiah, V. and Hussain, S.T. (2023), "Drivers of environmental and social sustainability accounting practices in Nigeria: a corporate governance perspective", Corporate Governance, Vol. 23 No. 2, pp. 397-421.



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