INVESTIGATING THE DEVELOPMENT OF ENVIRONMENTAL DISCLOSURES BY OIL AND GAS COMPANIES OPERATING IN LIBYA: A COMPARATIVE STUDY

Abstract

This paper concerns oil and gas companies operating in Libya. It investigates the relationship between the level of environmental disclosure and company characteristics. The researchers identified a number of characteristics that associated with companies’ environmental disclosure, namely, company size, company privatisation, company age and company’s nationality. In the light of the empirical results it is noticed that almost all companies disclose some environmental information. In addition a significant positive association was found between level of environmental disclosure and company size, company privatisation and company’s nationality. The study provides further evidence that these characteristics are important and have an impact on the level and value of environmental disclosure. On the other hand it was found that age of company is insignificant and negatively related to the level of environmental disclosure.

Keywords

• Disclosure, Environmental, Gas, Libya, Oil

References

1. Abreu, Nica, Castro, Felipe, Soares, Francisco and Filho, Jos (2012), ‘‘Comparative understanding of corporate social responsibility of textile firms’’, Journal of Cleaner Production, Vol, 20, No.1,pp.119-126
2. Akhtaruddin, M., (2005), ‘‘Corporate Mandatory Disclosure Practices in Bangladesh’’, The International Journal of Accounting, Vol. 40, No.4, pp. 399- 422.
3. Archambault, Jeffrey and Archambault, Marie (2003), ‘‘A Multinational Test of Determinants of Corporate Disclosure’’, The International Journal of Accounting, Vol.38,No2, pp.173-194
4. Freedman, Martin and Stagliano, A. (2008), ‘‘Environmental Disclosures: Electric Utilities and Phase 2 of the Clean Air Act’’, Critical Perspectives on Accounting, Vol. 19, No. 4, pp. 466-486.
5. Gao, Simon, Heravi, Saeed and Xiao, Jason (2005), ‘‘Determinants of Corporate Social and Environmental Reporting in Hong Kong’’, Accounting Forum, Vol. 29, No. 2, pp. 233-242.
6. Gray, Rob, Javad, Mohammed, Power, David and Sinclair, Donald (2001), ‘’Social and Environmental Disclosure and Corporate Characteristics’’, Journal of Business Finance & Accounting, Vol. 28, No.3, pp. 327-356.
7. Islam, Shafiqul, Hosen, Aoulad and Islam, Mujahidul (2005), ‘‘An Examination of Corporate Environmental Disclosure by the Bangladeshi Public Limited Companies’’, Journal of Social Sciences, Vol.3, No.9, pp.1095-1102.
8. Jangou, Tamoj (2007), ‘‘The Current State of Corporate Social Responsibility Among Industrial Companies in Malaysia’’, Social Responsibility Journal, Vol.3, No.3, pp. 9-18.

9. Mashat, Adel (2005),‘‘Corporate Social Responsibility Disclosure and Accountability’’, Ph.D, the Manchester Metropolitan University.
10. Moneva, Jose and Llena, Fernando (2000), ‘‘Environmental Disclosures in the Annual Reports of Large Companies in Spain, European Accounting Review, Vol.9, No.1, pp.7-9.
11. Neuendorf, Kimberly(2002), The Content Analysis Guidebook, London: Sage Publications Inc.
12. Saida, Dammak (2009), ‘‘Contribution on the Analysis of the Environmental Disclosure: a Comparative Study of American and European multinationals’’, Social Responsibility Journal, Vol.5, No.1, pp. 83-93.
13. Uwalomwa, Uwuigbe (2011), ’’An Examination of the Relationship between Management Ownership and Corporate Social Responsibility Disclosure’’, Research Journal of Finance and Accounting, Vol.2, No.6, pp. 23-29.
14. Wang, Hua’ Bi, Jun; Wheeler, David; Wang, Jinnan; Cao Dong; Lu Genfa and Yuan Wang (2004), ‘‘Environmental Performance Rating and Disclosure’’, Journal of Environmental Management, Vol.71, No.2, pp. 123-133.
15. Zubek, Fathi (2008), ‘‘An Investigation into Human Resource Disclosure’’, phD., Liverpool John Moores University.