Environmental Accounting Adoption and Disclosure: Zimbabwe Stock Exchange Listed Companies
Keywords:
environmental accounting, environmental disclosure, Zimbabwe Stock ExchangeAbstract
The concern for the environment and environmental accounting is becoming increasingly important around the world. Thus the concept of environmental accounting urges corporations to be more accountable and transparent on the impact made on the environment. The main purpose of the study was to ascertain the level of adoption and disclosure of environmental information among companies listed on the Zimbabwe Stock Exchange. Twenty companies from the high and medium environmental impact sectors were sampled from the sixty five companies listed on the Zimbabwe Stock Exchange using purposive sampling technique. Qualitative content analysis through QDA Miner software analytical tool was used to analyze the secondary data in the form of annual reports. The themes that were used to analyze environmental disclosure are environmental policy, environmental impact, environmental infrastructure, strategic goals and environmental policy implementation. The findings show that companies in medium impact sectors are disposed to disclose environmental information as much as the companies in the high impact sector although that is contradictory to the legitimacy theory. Thus the study recommends that companies listed on the Zimbabwe Stock exchange adopt and disclose environmental information in their annual reports.
References
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Vazakidis, A., Stavropoulos, A. & Galani, D., 2013. Company Characteristics and Human Resource Disclosure in Greece. Procedia Technology, 8(Haicta), pp.112–121. Available at: http://dx.doi.org/10.1016/j.protcy.2013.11.016%5Cnhttp://linkinghub.elsevier.com/retrieve/pii/S2212017313000789.
Ahmed, K. & Nicholls, D., 1994. The Impact of Non-Financial Company Characteristics on Mandatory Disclosure Compliance in Developing Countries: The Case of Bangladesh. The International Journal of Accounting, 29(1), pp.62-77.
Barbu, E. M., Dumontier, P., Feleaga, N., & Feleaga, L., 2014. Mandatory Environmental Disclosures by Companies Complying with IASs/IFRSs: The Cases of France, Germany, and the UK. The International Journal of Accounting, 49(2), pp. 231-247.
Behram, N.K., 2015. A Cross-Sectoral Analysis of Environmental Disclosures in a Legitimacy Theory Context. Journal of Management and Sustainability, 5(1), pp.20–37.
Boolaky, P.K., 2011. Global Reporting Initiatives ( G3 ), Standard Disclosures for Human Resource Practices : Compliance and Determinants in The Financial Services Sector : Europe , Asia and Others. Academy of Taiwan Business Management Review, pp.1–15.
Chow, C. W. & Wong-Boren, A., 1987. Voluntary Financial Disclosure by Mexican Corporations. The Accounting Review, 62(3), 533-541.
Dibia, N.O. & Onwuchekwa, J.C., 2015. Determinants of environmental disclosures in Nigeria: A case study of oil and gas companies. International Journal of Finance and Accounting, 4(3), pp.145–152.
Ebiringa, O.T. et al., 2013. Effect of firm size and profitability on corporate social disclosures: The Nigerian oil and gas sector in focus. Bristish Journal of Economics, Management & Trade, 3(4), pp.563–574.
Fontana, S., D’Amico, E., Coluccia, D., & Solimene, S., 2015. Does environmental performance affect companies’ environmental disclosure? Measuring Business Excellence. 19(3), 42-57
Gray, R. & Bebbington, J., 2000. Environmental accounting, managerialism and sustainability: Is the planet safe in the hands of business and accounting? Advances in Environmental Accounting and Management, 1, pp.1–44.
Guo, M., Zhao, X. & Lions, C., 2011. What is the impact of industrial environmental events on the quality of environmental disclosure in corporate annual reports ?
Ioannou, I. & Serafeim, G., 2014. The Consequences of Mandatory Corporate Sustainability Reporting : Evidence from Four Countries. Http://Ssrn.Com/Abstract=1799589, pp.1–34
Jerry, M.S., Peter, T. & Bukar, M., 2015. Environmental Accounting Disclosure Practice of Nigerian Quoted Firms : A Case Study of Some Selected Quoted Consumer Goods Companies. , 6(22), pp.31–37.
Magara, R., Aming’a, N. & Momanyi, E., 2015. Effect of Environmental Accounting on Company Financial Performance in Kisii County. British Journal of Economics, Management & Trade, 10(1), pp.1–11. Available at: http://sciencedomain.org/abstract/10611.
Mobus, J. L. (2005). Mandatory environmental disclosures in a legitimacy theory context. Accounting, Auditing & Accountability Journal, 18(4), 492-517. http://doi.org/10.1108/09513570510609333
Mohammed, Z. & Tamoi, J., 2006. Corporate Social Disclosure of Construction Companies in Malaysia, Malaysian Accounting Review, 5(1), 85-114.
Murthy, V. & Parisi, C., 2013. A meta-analysis of two decades of Sustainability Accounting.
Muza, C. & Magadi, I., 2014. Environmental Management accounting implementation in Zimbabwe mining sector . IOSR Journal of Business Management, 16(9), pp.82–92.
Nor, N.M. et al., 2016. The Effects of Environmental Disclosure on Financial Performance in Malaysia. Procedia Economics and Finance, 35(October 2015), pp.117–126. Available at: http://www.sciencedirect.com/science/article/pii/S22125671160
Ortiz, E. & Marín, S., 2014. Global Reporting Initiative ( GRI ) as recognized guidelines for sustainability reporting by Spanish companies on the IBEX 35 : with financial entities. , 10(5), pp.855–872.
Otu Umoren, A., 2015. Environmental, Social and Governance Disclosures: A Call for Integrated Reporting in Nigeria. Journal of Finance and Accounting, 3(6), p.227. Available at: http://www.sciencepublishinggroup.com/journal/paperinfo?journalid=171&doi=10.11648/j.jfa.20150306.19.
Prasad, B.D., 2008. Content Analysis. Research methods for social work, pp.1–20.
Saunders, Philip, L. & Adrian, T., 2007. Research Methods for Business Students, Fourth Edition 4th ed., UK: Pentice Hall.
Suttipun, M. & Stanton, P., 2012. A study of environmental disclosures by Thai listed companies on websites. Procedia Economics and Finance, 2(Af 2012), pp.9–15. Available at: http://www.sciencedirect.com/science/article/pii/S2212567112000597.
Tang, O. & Fiedler, B., 2005. Environmental Accounting – Disclosures of Environmental Liability and the Shipping Sector. , pp.323–329.
Thanh, N.C., Thi, T. & Thanh, L., 2015. The Interconnection Between Interpretivist Paradigm and Qualitative Methods in Education. American Journal of Educational Science, 1(2), pp.24–27. Available at: http://www.aiscience.org/journal/ajes.
Trotman, K. T. & Bradley, G. W., 1981. Association between Social Responsibility Disclosure and Characteristics of Companies. Accounting, Organisations and Society, 6(4), pp. 355-362
Tze, S.O., Huey, S.T., Han, H. G., Siew, B.T. et al., & Boon, H. T., 2016. The relationship between environmental disclosure and financial performance of public listed Companies in Malaysia.pdf. International Business Management, 10(4), pp.461–467.
Vazakidis, A., Stavropoulos, A. & Galani, D., 2013. Company Characteristics and Human Resource Disclosure in Greece. Procedia Technology, 8(Haicta), pp.112–121. Available at: http://dx.doi.org/10.1016/j.protcy.2013.11.016%5Cnhttp://linkinghub.elsevier.com/retrieve/pii/S2212017313000789.
Published
2020-09-30
How to Cite
Dzomira, S., & Ndlovu, I. . (2020). Environmental Accounting Adoption and Disclosure: Zimbabwe Stock Exchange Listed Companies: Array. The Journal of Accounting and Management, 11(1). Retrieved from https://dj.univ-danubius.ro/index.php/JAM/article/view/528
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