Moderating Corporate Social Responsibility Disclosure with Board Sustainability Committee on Value of Oil and Gas Companies in Nigeria

Abstract

This study examined the moderating effect of corporate social responsibility disclosure with board sustainability committee on market value of oil and gas companies in Nigeria. The explanatory variable of interest was the corporate social responsibility disclosure whereas the outcome variable was the market value proxied by the yearly market value added. The relationship between the outcome and the predictor variables were moderated with board sustainability committee. Data was sourced from 10 oil and gas companies listed on the Nigeria Exchange Group from 2014-2023. The data were analysed using structural equation’s modeling. It was found that corporate social responsibility disclosure had positive and significant effect on market value but the coefficient of explanation of the explanatory variable was weak. However, when the predictor variable was moderated with board sustainability committee, the coefficient of determination of the CSR and market value became strong with a positive effect. It was recommended that oil and gas companies should form more robust board sustainability committees to further increase their market value through synergized effect with CSR disclosure.