Effect of Environmental Fairness on Assets Utilization in the Nigerian Oil and Gas Companies: An Empirical Analysis

Olubunmi Ogunode; Folajimi Adegbie

doi:doi:10.11648/j.jfa.20200805.14

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Effect of Environmental Fairness on Assets Utilization in the Nigerian Oil and Gas Companies: An Empirical Analysis

Olubunmi Ogunode, Folajimi Adegbie

Published in Journal of Finance and Accounting (Volume 8, Issue 5)

Received: 9 September 2020 Accepted: 21 September 2020 Published: 28 September 2020

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Abstract

Protection of environment and evidence of such efforts by companies sensitive to the environmental issues have not been convincingly clear. The attitudinal landscape of insensitivity and unfair treatment of environmental protection by the environment sensitive establishments in the downstream activities have become worrisome, particularly where expected returns from assets utilization now overrides concern the planet protection and fair treatments of the host communities where they operate. Consequently, an examination of environmental fairness and its effects on assets utilization. The population consisted of 12 oil and gas companies engaged in the downstream activities. Selection of companies using a purposive sampling technique for a period of 16 years 2003-2018 was explored. Inferential statistics was adopted in the data analysis and multicollinearity test carried out to determine the presence or absence of multicollinearity, showed no negative effect, while Breusch-Pagan / Cook-Weisberg test for heteroscedasticity was carried out for residual constantans. Environmental fairness had a statistically and positively significant impact on asset utilization (Adj R²=0.30; F-statistics_{(3, 44)}=226.3; p-value=0.00 < 0.05). The study recommended that management of oil and gas companies should also ensure adequate support to the community through corporate social responsibility by implementing policies that reflect their environmental consciousness as well as ensuring full disclosure of all such activities in their published annual reports.

Published in	Journal of Finance and Accounting (Volume 8, Issue 5)
DOI	10.11648/j.jfa.20200805.14
Page(s)	230-237
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), 2020. Published by Science Publishing Group

Keywords

Assets Utilization, Downstream Activities, Environmental Fairness, Oil Spillage, Pollutions

References

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Olubunmi Ogunode, Folajimi Adegbie. (2020). Effect of Environmental Fairness on Assets Utilization in the Nigerian Oil and Gas Companies: An Empirical Analysis. Journal of Finance and Accounting, 8(5), 230-237. https://doi.org/10.11648/j.jfa.20200805.14

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Olubunmi Ogunode; Folajimi Adegbie. Effect of Environmental Fairness on Assets Utilization in the Nigerian Oil and Gas Companies: An Empirical Analysis. J. Finance Account. 2020, 8(5), 230-237. doi: 10.11648/j.jfa.20200805.14

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AMA Style

Olubunmi Ogunode, Folajimi Adegbie. Effect of Environmental Fairness on Assets Utilization in the Nigerian Oil and Gas Companies: An Empirical Analysis. J Finance Account. 2020;8(5):230-237. doi: 10.11648/j.jfa.20200805.14

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@article{10.11648/j.jfa.20200805.14,
  author = {Olubunmi Ogunode and Folajimi Adegbie},
  title = {Effect of Environmental Fairness on Assets Utilization in the Nigerian Oil and Gas Companies: An Empirical Analysis},
  journal = {Journal of Finance and Accounting},
  volume = {8},
  number = {5},
  pages = {230-237},
  doi = {10.11648/j.jfa.20200805.14},
  url = {https://doi.org/10.11648/j.jfa.20200805.14},
  eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.jfa.20200805.14},
  abstract = {Protection of environment and evidence of such efforts by companies sensitive to the environmental issues have not been convincingly clear. The attitudinal landscape of insensitivity and unfair treatment of environmental protection by the environment sensitive establishments in the downstream activities have become worrisome, particularly where expected returns from assets utilization now overrides concern the planet protection and fair treatments of the host communities where they operate. Consequently, an examination of environmental fairness and its effects on assets utilization. The population consisted of 12 oil and gas companies engaged in the downstream activities. Selection of companies using a purposive sampling technique for a period of 16 years 2003-2018 was explored. Inferential statistics was adopted in the data analysis and multicollinearity test carried out to determine the presence or absence of multicollinearity, showed no negative effect, while Breusch-Pagan / Cook-Weisberg test for heteroscedasticity was carried out for residual constantans. Environmental fairness had a statistically and positively significant impact on asset utilization (Adj R2=0.30; F-statistics(3, 44) =226.3; p-value=0.00 < 0.05). The study recommended that management of oil and gas companies should also ensure adequate support to the community through corporate social responsibility by implementing policies that reflect their environmental consciousness as well as ensuring full disclosure of all such activities in their published annual reports.},
 year = {2020}
}

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TY  - JOUR
T1  - Effect of Environmental Fairness on Assets Utilization in the Nigerian Oil and Gas Companies: An Empirical Analysis
AU  - Olubunmi Ogunode
AU  - Folajimi Adegbie
Y1  - 2020/09/28
PY  - 2020
N1  - https://doi.org/10.11648/j.jfa.20200805.14
DO  - 10.11648/j.jfa.20200805.14
T2  - Journal of Finance and Accounting
JF  - Journal of Finance and Accounting
JO  - Journal of Finance and Accounting
SP  - 230
EP  - 237
PB  - Science Publishing Group
SN  - 2330-7323
UR  - https://doi.org/10.11648/j.jfa.20200805.14
AB  - Protection of environment and evidence of such efforts by companies sensitive to the environmental issues have not been convincingly clear. The attitudinal landscape of insensitivity and unfair treatment of environmental protection by the environment sensitive establishments in the downstream activities have become worrisome, particularly where expected returns from assets utilization now overrides concern the planet protection and fair treatments of the host communities where they operate. Consequently, an examination of environmental fairness and its effects on assets utilization. The population consisted of 12 oil and gas companies engaged in the downstream activities. Selection of companies using a purposive sampling technique for a period of 16 years 2003-2018 was explored. Inferential statistics was adopted in the data analysis and multicollinearity test carried out to determine the presence or absence of multicollinearity, showed no negative effect, while Breusch-Pagan / Cook-Weisberg test for heteroscedasticity was carried out for residual constantans. Environmental fairness had a statistically and positively significant impact on asset utilization (Adj R2=0.30; F-statistics(3, 44) =226.3; p-value=0.00 < 0.05). The study recommended that management of oil and gas companies should also ensure adequate support to the community through corporate social responsibility by implementing policies that reflect their environmental consciousness as well as ensuring full disclosure of all such activities in their published annual reports.
VL  - 8
IS  - 5
ER  -

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Author Information

Olubunmi Ogunode

Department of Accounting, Faculty of Management Sciences, Babcock University, Ilishan-Remo, Nigeria
Folajimi Adegbie

Department of Accounting, Faculty of Management Sciences, Babcock University, Ilishan-Remo, Nigeria

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APA Style

Olubunmi Ogunode, Folajimi Adegbie. (2020). Effect of Environmental Fairness on Assets Utilization in the Nigerian Oil and Gas Companies: An Empirical Analysis. Journal of Finance and Accounting, 8(5), 230-237. https://doi.org/10.11648/j.jfa.20200805.14

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Olubunmi Ogunode; Folajimi Adegbie. Effect of Environmental Fairness on Assets Utilization in the Nigerian Oil and Gas Companies: An Empirical Analysis. J. Finance Account. 2020, 8(5), 230-237. doi: 10.11648/j.jfa.20200805.14

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AMA Style

Olubunmi Ogunode, Folajimi Adegbie. Effect of Environmental Fairness on Assets Utilization in the Nigerian Oil and Gas Companies: An Empirical Analysis. J Finance Account. 2020;8(5):230-237. doi: 10.11648/j.jfa.20200805.14

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@article{10.11648/j.jfa.20200805.14,
  author = {Olubunmi Ogunode and Folajimi Adegbie},
  title = {Effect of Environmental Fairness on Assets Utilization in the Nigerian Oil and Gas Companies: An Empirical Analysis},
  journal = {Journal of Finance and Accounting},
  volume = {8},
  number = {5},
  pages = {230-237},
  doi = {10.11648/j.jfa.20200805.14},
  url = {https://doi.org/10.11648/j.jfa.20200805.14},
  eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.jfa.20200805.14},
  abstract = {Protection of environment and evidence of such efforts by companies sensitive to the environmental issues have not been convincingly clear. The attitudinal landscape of insensitivity and unfair treatment of environmental protection by the environment sensitive establishments in the downstream activities have become worrisome, particularly where expected returns from assets utilization now overrides concern the planet protection and fair treatments of the host communities where they operate. Consequently, an examination of environmental fairness and its effects on assets utilization. The population consisted of 12 oil and gas companies engaged in the downstream activities. Selection of companies using a purposive sampling technique for a period of 16 years 2003-2018 was explored. Inferential statistics was adopted in the data analysis and multicollinearity test carried out to determine the presence or absence of multicollinearity, showed no negative effect, while Breusch-Pagan / Cook-Weisberg test for heteroscedasticity was carried out for residual constantans. Environmental fairness had a statistically and positively significant impact on asset utilization (Adj R2=0.30; F-statistics(3, 44) =226.3; p-value=0.00 < 0.05). The study recommended that management of oil and gas companies should also ensure adequate support to the community through corporate social responsibility by implementing policies that reflect their environmental consciousness as well as ensuring full disclosure of all such activities in their published annual reports.},
 year = {2020}
}

Copy | Download

TY  - JOUR
T1  - Effect of Environmental Fairness on Assets Utilization in the Nigerian Oil and Gas Companies: An Empirical Analysis
AU  - Olubunmi Ogunode
AU  - Folajimi Adegbie
Y1  - 2020/09/28
PY  - 2020
N1  - https://doi.org/10.11648/j.jfa.20200805.14
DO  - 10.11648/j.jfa.20200805.14
T2  - Journal of Finance and Accounting
JF  - Journal of Finance and Accounting
JO  - Journal of Finance and Accounting
SP  - 230
EP  - 237
PB  - Science Publishing Group
SN  - 2330-7323
UR  - https://doi.org/10.11648/j.jfa.20200805.14
AB  - Protection of environment and evidence of such efforts by companies sensitive to the environmental issues have not been convincingly clear. The attitudinal landscape of insensitivity and unfair treatment of environmental protection by the environment sensitive establishments in the downstream activities have become worrisome, particularly where expected returns from assets utilization now overrides concern the planet protection and fair treatments of the host communities where they operate. Consequently, an examination of environmental fairness and its effects on assets utilization. The population consisted of 12 oil and gas companies engaged in the downstream activities. Selection of companies using a purposive sampling technique for a period of 16 years 2003-2018 was explored. Inferential statistics was adopted in the data analysis and multicollinearity test carried out to determine the presence or absence of multicollinearity, showed no negative effect, while Breusch-Pagan / Cook-Weisberg test for heteroscedasticity was carried out for residual constantans. Environmental fairness had a statistically and positively significant impact on asset utilization (Adj R2=0.30; F-statistics(3, 44) =226.3; p-value=0.00 < 0.05). The study recommended that management of oil and gas companies should also ensure adequate support to the community through corporate social responsibility by implementing policies that reflect their environmental consciousness as well as ensuring full disclosure of all such activities in their published annual reports.
VL  - 8
IS  - 5
ER  -

Copy | Download