Corporate Eco-efficiency and Financial Performance: Evidence from Guinness Nigeria Plc
- January 4, 2020
- Posted by: RSIS
- Categories: Accounting, IJRISS
International Journal of Research and Innovation in Social Science (IJRISS) | Volume III, Issue XII, December 2019 | ISSN 2454–6186
Corporate Eco-efficiency and Financial Performance: Evidence from Guinness Nigeria Plc
Agu, Stephen Ikechukwu1; Dr. Okegbe, Theophilius Okonkwo2
1Ph.D Scholar, Department of Accountancy, Nnamdi Azikiwe University, Awka, Anambra State, Nigeria
2Senior Lecturer, Department of Accountancy, Nnamdi Azikiwe University, Awka, Anambra State, Nigeria
Abstract: – This study examines the interplay between corporate eco-efficiency and financial performance of Guinness Nigeria Plc. An ex –post facto research design approach was adopted for the study. Using a series data for the period of seven (7) years 2011 to 2017, Guinness Nigeria Plc was studied based on the firms’ position as one largest brewing companies and one of the key players in the industry. Secondary data were obtained from the annual /sustainability reports of the company from 2011 to 2017 financial year. Three hypotheses were formulated and tested in the course of this study. Regression analysis by aid of SPSS v.21 was used to test for statistical significance and relationship between corporate eco-efficiency and financial performance. The results showed that there is significant positive relationship between energy efficiency and financial performance of Guinness Nigeria Plc. This study further revealed that there is a statistical significant and positive relationship between water utilization efficiency (WUE) and financial performance of Guinness Nigeria Plc. Finally, the result also established that there is a statistical positive and significant relationship between the Greenhouse Gas (GHG) emission management and financial performance of Guinness Nigeria Plc. Based on the findings, this study recommends among others; that the management of Brewers should improve energy efficiency by the use of gas-powered generators, economizers on its boilers and compressors. Brewers should consider the installation of water guns to reduce water flow rate, installation of flow meters for effective data capturing, monitoring & controls. The management of CO2 emission in Brewery firms should accommodate among others; using less fossil fuel for energy and steam generation as well as increased application of solar-powered street lighting.
Keywords: Eco-efficiency, Sustainability reporting, financial performance, Guinness Nigeria Plc.
