Research Article
Sunday A. Effiong, Peter A. Ot
Abstract
Noticeable gap exists between the company and the stakeholders when the company focuses on single bottom reporting that only shows profitability at the expense of environment and society. This paper evaluates the effect of triple bottom line disclosures on economic value, market value and cash flow returns on investment of the studied companies. Secondary data were from the NSE Fact Book and Annual Reports of studied companies quoted in NSE. A disclosure checklist of GRI guidelines was used while employing the ex post facto design. All the twelve quoted Oil and Gas companies were studied for ten years with descriptive statistics and panel data regression analysis employed. The findings showed that economic, social and environmental performance disclosures significantly affect economic value, market value and cash flow returns on investment. These results confirm that corporate strategies of reporting the organization’s footprints on the basis of environment, social and economic conditions of stakeholders significantly maximize shareholders’ value.