Impact of corporate voluntary reporting on performance of non-financial firms in Nigeria

Some corporate entities especially from the non-financial services firms in Nigeria had sustained series of socio-economic shocks leading to huge decline in performance of the listed firms’ overtime. The deteriorating nature of firms’ performance generation prevents them from being able to satisfy their financial obligations. This study looked at how corporate voluntary reporting affected Nigerian non-financial enterprises' performance. For this study, an ex-post facto research strategy was utilized, with positivism serving as the research paradigm. All 74 non-financial services companies listed on the Nigeria Exchange make up the study's population., while 41 was the sample size after filtering. The published annual financial statements of the non-financial companies listed on the Nigeria Exchange served as secondary sources of the data used in this study. This study was conducted for a period of eleven (11) years spanning from 2013 to 2023. The regression results revealed that quality assurance disclosure and local community disclosure were found to have significant effect on performance of listed non-financial firms in Nigeria. The study recommended that the regulatory bodies should persuade the inclusion of additional females in the board of directors of non-financial services firms in Nigeria, and the management of the affected firms should make a choice of quality assurance disclosure as their component of corporate social responsibility, as well as consider allocating reasonable funds to improve investment on local community services, environmental projects/programs, and human capital development. The Nigeria’s standard-setter should enforce the implementation of corporate social responsibility as a mandatory disclosure requirement for corporate entities in Nigeria as it is now done in South-Africa.