INTEGRATED REPORTING AND SHAREHOLDERS WEALTH MAXIMIZATION AMONG LISTED CONSUMER GOOODS COMPANIES IN NIGERIA

Abstract

This study investigates the effect of integrated reporting on the wealth maximisation of Nigerian
listed consumer goods shareholders. Economic value added (EVA) was used as a proxy for
shareholder wealth maximisation, and variables such as manufactured capital, financial capital,
human capital, and social capital were used to proxy integrated reporting. Out of 14 listed banks,
12 banks were chosen using purposive sampling technique. The study utilized expo-fact research
design. Information was taken from the selected firms ranging from the period of 2012–2022.
Additionally, panel estimating methods and descriptive statistics were encompassed in the study.
The results established a favourable and substantial effect of financial capital on EVA (t=2.429,
P<0.05). In addition, disclosure of manufactured capital (t= -3.640, P <0.05) had a negative but
significant impact on EVA. Results revealed that only variable of financial capital, disclosure of
manufacture capital have the potential to raise the firm's EVA. The management of Nigerian
companies was recommended to include all disclosure elements relevant to financial and
manufacture capital in their financial statements in order to increase shareholder wealth and the
company's value.