{"id":23169,"date":"2025-12-23T10:26:02","date_gmt":"2025-12-23T10:26:02","guid":{"rendered":"https:\/\/journals.amssr.org\/grjaf\/?p=23169"},"modified":"2026-01-20T12:07:53","modified_gmt":"2026-01-20T12:07:53","slug":"moderating-effect-of-operational-efficiency-on-environmental-disclosure-and-cost-of-debt-for-listed-non-financial-companies-in-nigeria","status":"publish","type":"post","link":"https:\/\/journals.amssr.org\/grjaf\/2025\/12\/23\/moderating-effect-of-operational-efficiency-on-environmental-disclosure-and-cost-of-debt-for-listed-non-financial-companies-in-nigeria\/","title":{"rendered":"Moderating Effect of Operational Efficiency on Environmental Disclosure and Cost of Debt for Listed Non-Financial Companies in Nigeria"},"content":{"rendered":"\n<p>Download PDF<\/p>\n\n\n\n<div data-wp-interactive=\"core\/file\" class=\"wp-block-file\"><object data-wp-bind--hidden=\"!state.hasPdfPreview\" hidden class=\"wp-block-file__embed\" data=\"https:\/\/journals.amssr.org\/grjaf\/wp-content\/uploads\/sites\/2\/2025\/12\/Moderating-Effect-of-Operational-Efficiency-on-Environmental-Disclosure-and-Cost-of-Debt-for-Listed-Non-Financial-Companies-in-Nigeria-GRJAF-AMSSRN.pdf\" type=\"application\/pdf\" style=\"width:100%;height:600px\" aria-label=\"Embed of Moderating Effect of Operational Efficiency on Environmental Disclosure and Cost of Debt for Listed Non-Financial Companies in Nigeria GRJAF AMSSRN.\"><\/object><a id=\"wp-block-file--media-215e1439-f1be-4d51-91a4-b6b4300053ec\" href=\"https:\/\/journals.amssr.org\/grjaf\/wp-content\/uploads\/sites\/2\/2025\/12\/Moderating-Effect-of-Operational-Efficiency-on-Environmental-Disclosure-and-Cost-of-Debt-for-Listed-Non-Financial-Companies-in-Nigeria-GRJAF-AMSSRN.pdf\">Moderating Effect of Operational Efficiency on Environmental Disclosure and Cost of Debt for Listed Non-Financial Companies in Nigeria GRJAF AMSSRN<\/a><a href=\"https:\/\/journals.amssr.org\/grjaf\/wp-content\/uploads\/sites\/2\/2025\/12\/Moderating-Effect-of-Operational-Efficiency-on-Environmental-Disclosure-and-Cost-of-Debt-for-Listed-Non-Financial-Companies-in-Nigeria-GRJAF-AMSSRN.pdf\" class=\"wp-block-file__button wp-element-button\" download aria-describedby=\"wp-block-file--media-215e1439-f1be-4d51-91a4-b6b4300053ec\">Download<\/a><\/div>\n\n\n\n<p>Authors<\/p>\n\n\n\n<p>Godwin Terhile Kutse <sup>1<\/sup>, Dr. Luper Iorpev <sup>2<\/sup>, Dr. Kwaghfan Aondoakaa <sup>3<\/sup><\/p>\n\n\n\n<p><em>Department of Accounting,&nbsp;<\/em><\/p>\n\n\n\n<p><em>Rev. Fr. Moses Oshio Adasu University, Makurdi, Nigeria<\/em><\/p>\n\n\n\n<p><em>Phone No: 07030819723 Email: <\/em>terencegoddy@yahoo.com <sup>1<\/sup><\/p>\n\n\n\n<p><strong>ABSTRACT<\/strong><\/p>\n\n\n\n<p><strong>Research Objective: <\/strong>The study examined the moderating effect of operational efficiency on the relationship between environmental disclosure and cost of debt for listed non-financial companies in Nigeria.<strong>&nbsp;<\/strong><\/p>\n\n\n\n<p><strong>Methodology: <\/strong>The ex-post facto research design was employed, and the secondary data were obtained from 61 non-financial companies from 2012 to 2024. Descriptive statistics and regression techniques were used for data analysis.&nbsp;<\/p>\n\n\n\n<p><strong>Findings: <\/strong>The study revealed that environmental disclosure reduces the cost of debt, with a more significant effect when interacting with operational efficiency.&nbsp;<\/p>\n\n\n\n<p><strong>Conclusion:<\/strong> Environmental disclosure coupled with operational efficiency increases lenders\u2019 confidence, mitigates litigation and financial stability risks, and helps avoid regulatory penalties and reputational damage. The study established that non-financial companies with higher operational efficiency and credible environmental disclosure are rewarded with favourable loan terms, therefore a lower cost of debt.&nbsp;<\/p>\n\n\n\n<p><strong>Recommendation: <\/strong>Non-financial companies in Nigeria should disclose adequate environmental information without compromising profitability. Furthermore, regulators should put in place a monitoring mechanism that will enhance credible environmental disclosure and ensure that by 2028, all listed companies in Nigeria will adopt the sustainability frameworks to align with the global standard.<\/p>\n\n\n\n<p><strong><em>Keywords:<\/em><\/strong><em> Environmental Disclosure, Operational Efficiency, Cost of Debt, Non-Financial Companies.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Download PDF Authors Godwin Terhile Kutse 1, Dr. Luper Iorpev 2, Dr. Kwaghfan Aondoakaa 3 Department of Accounting,&nbsp; Rev. Fr. Moses Oshio Adasu University, Makurdi, Nigeria Phone No: 07030819723 Email: terencegoddy@yahoo.com 1 ABSTRACT Research Objective: The study examined the moderating effect of operational efficiency on the relationship between environmental disclosure and cost of debt for listed non-financial companies in Nigeria.&nbsp; Methodology: The ex-post facto research design was employed, and the secondary data were obtained from 61 non-financial companies from 2012 [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":21742,"comment_status":"open","ping_status":"0","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[335,620,619],"tags":[],"class_list":["post-23169","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-grjaf","category-vol-6-issue-1","category-volume-6"],"_links":{"self":[{"href":"https:\/\/journals.amssr.org\/grjaf\/wp-json\/wp\/v2\/posts\/23169","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/journals.amssr.org\/grjaf\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/journals.amssr.org\/grjaf\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/journals.amssr.org\/grjaf\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/journals.amssr.org\/grjaf\/wp-json\/wp\/v2\/comments?post=23169"}],"version-history":[{"count":1,"href":"https:\/\/journals.amssr.org\/grjaf\/wp-json\/wp\/v2\/posts\/23169\/revisions"}],"predecessor-version":[{"id":23171,"href":"https:\/\/journals.amssr.org\/grjaf\/wp-json\/wp\/v2\/posts\/23169\/revisions\/23171"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/journals.amssr.org\/grjaf\/wp-json\/wp\/v2\/media\/21742"}],"wp:attachment":[{"href":"https:\/\/journals.amssr.org\/grjaf\/wp-json\/wp\/v2\/media?parent=23169"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/journals.amssr.org\/grjaf\/wp-json\/wp\/v2\/categories?post=23169"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/journals.amssr.org\/grjaf\/wp-json\/wp\/v2\/tags?post=23169"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}