CORPORATE VOLUNTARY DISCLOSURE AND FINANCIAL PERFORMANCE OF QUOTED CONSUMER GOODS IN THE POST COVID 19 ERA

Abstract

Numerous scholars have focused their attention on the issue of voluntary disclosure of financial or non-financial information in the past few decades. The information provided in annual reports serves as the foundation for the financial and investment decisions made by shareholders, investors, and other stakeholders. There may be required and optional information in these annual reports. Managers make these voluntary disclosures out of a sense of openness and transparency, and they could include important information that helps all parties involved make informed decisions. This study looked at the financial performance of consumer products companies in Nigeria as well as corporate voluntary disclosure. The population of the study consisted of the twenty (21) quoted consumer goods firms on the Nigerian Exchange Group (NGX Group) as of December 31, 2023. A sample size of ten (10) consumer goods firms was selected using the purposive sampling technique. The research design used in the study was ex post facto. According to the study, corporate voluntary environmental disclosure (CVEND) has a negligible positive impact on the return on asset of quoted consumer goods companies in Nigeria, whereas corporate voluntary economic disclosure (CVED) has a significant negative impact. In order to increase overall performance in a sustainable manner, the study advises management of consumer products companies to take the required actions to raise their levels of social engagement with their particular host communities. Additionally, management ought to reveal less economic performance operations and more social and environmental performance actions.