DOES BOARD INDEPENDENCE MODERATE THE RELATIONSHIP BETWEEN ENVIRONMENTAL DISCLOSURE AND FINANCIAL PERFORMANCE OF 30 MOST CAPITALISED FIRMS IN NIGERIA?
This study assessed how the moderating role of independent directors affects the relationship between environmental disclosure and financial performance of the listed 30 most capitalized companies on the floor of the Nigerian exchange group. This study covers 10 years (2014-2023). Due to the nature of the research, an ex-post factor design was used. Data were collected from the annual reports of the 25 most capitalized firms listed on the Nigerian exchange group. Panel data analysis was used, and the major findings are that environmental disclosure has a significant negative effect on market capitalization. Board independence has an insignificant negative effect on market capitalization, but the Moderating effect of board independence has a significant positive effect on the market capitalization of listed performing companies in Nigeria. Suggesting that an increase in independent board members increases firm value. Of listed performing companies in Nigeria. It is recommended that the management of public interest companies effectively communicate and create more awareness among existing shareholders and potential investors on the importance of environmental disclosure. The study will encourage robust interest in patronizing shares of companies that engage in greener production.
Environmental Disclosure, Board Independence, Financial Performance, Agency Theory.