Financial and non-financial disclosures on sustainable development: The mediating role of environmental accounting disclosure practices

https://doi.org/10.35912/ijfam.v5i3.1702
Published: Jan 10, 2024

Abstract:

Purpose: Environmental accounting is a complementary and contributory component of corporate governance that can achieve sustainable growth and development. This study investigates the financial and non-financial disclosures that influence sustainable development through the mediating effect of environmental accounting disclosure practices.

Research methodology: Self-administered questions in a closed-ended questionnaire were used, employing a five-point Likert scale to quantify opinions. Data were collected purposively and physically by the researchers from 338 respondents using a pretesting modified process, a pilot survey, a final survey, and finally analyzed using the PLS-SEM.

Results: Our study reveals that non-financial disclosure has both direct and indirect effects on sustainable development through environmental accounting disclosure practices, while financial disclosure only has indirect effects. Environmental accounting disclosure practices exert a statistically significant influence and predictive power on sustainable development.

Limitations: Our study is limited to listed textile companies, without considering non-listed textiles, ready-made garments (RMG), and other listed manufacturing companies in Bangladesh.

Contribution: The study findings convey a meaningful message to listed textile companies, their managers, researchers, regulators, and practitioners, urging them to integrate and enhance environmental practices for sustainability. These findings contribute significantly to the literature and may influence multinational buying companies.

Novelty: This pioneering accounting research aims to articulate the scale and theoretical validation of accountants’ perceptions by studying the mediating effect of environmental accounting disclosure practices between financial and non-financial disclosures and sustainable development through PLS-SEM.

Keywords:
1. Environmental Accounting (EA)
2. Environmental Accounting Disclosure Practices (EADPs)
3. Financial Disclosure (FD)
4. Non-Financial Disclosure (NFD) and Sustainable Development (SD)
Authors:
1 . Md. Saheb Ali Mondal
Ahsanullah University of Science and Technology, Dhaka, Bangladesh
2 . Nazma Akter
Ahsanullah University of Science and Technology, Dhaka, Bangladesh
3 . Sadia Jahan Moni
Ahsanullah University of Science and Technology, Dhaka, Bangladesh
4 . Mohammad Rashed Hasan Polas
Sonargaon University (SU), Dhaka, Bangladesh
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How to Cite
Mondal, M. S. A. ., Akter, N. ., Moni, S. J. ., & Polas, M. R. H. (2024). Financial and non-financial disclosures on sustainable development: The mediating role of environmental accounting disclosure practices. International Journal of Financial, Accounting, and Management, 5(3), 387–406. https://doi.org/10.35912/ijfam.v5i3.1702
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Issue & Section
Vol. 5 No. 3 (2023): December
Articles
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  2. Afrin, S., Sehreen, F., Polas, M. R. H., & Sharin, R. (2020). Corporate Social Responsibility (CSR) practices of financial institution in Bangladesh: the case of United Commercial Bank. Journal of Sustainable Tourism and Entrepreneurship, 2(2), 69-82.
  3. Afshar, A., Polas, R. H., Imtiaz, M., & Saboor, A. (2019). Customer care service management is moving forward to achieve sustainable customer retention in every industry. Does it play a role to increase brand rentention. International Journal of Management, 8(2), 88-97.
  4. Aguado-Correa, F., de la Vega-Jiménez, J. J., López-Jiménez, J. M., Padilla-Garrido, N., & Rabadán-Martín, I. (2023). Evaluation of non-financial information and its contribution to advancing the sustainable development goals within the Spanish banking sector. European Research on Management and Business Economics, 29(1), 100211.
  5. Agyemang, A. O., Yusheng, K., Twum, A. K., Edziah, B. K., & Ayamba, E. C. (2023). Environmental accounting and performance: empirical evidence from China. Environment, Development and Sustainability, 1-26.
  6. Akter, N., Siddik, A. B., & Mondal, M. A. (2017). Sustainability reporting on green financing: A study of listed private sustainability reporting on green financing: A study of listed private commercial banks in Bangladesh. J. Bus. Technol, 12(1), 14-27.
  7. Akter, N., Siddik, A. B., & Mondal, S. A. (2018). Corporate social responsibility disclosure practices and banks financial performance: A study on listed private commercial banks in Bangladesh. Journal of Business and Technology (Dhaka), Northern University, Bangladesh, 8(1), 1-19.
  8. Ali, Q., Salman, A., & Parveen, S. (2022). Evaluating the effects of environmental management practices on environmental and financial performance of firms in Malaysia: the mediating role of ESG disclosure. Heliyon, 8(12).
  9. Arrive, J. T., & Feng, M. (2018). Corporate social responsibility disclosure: Evidence from BRICS nations. Corporate Social Responsibility and Environmental Management, 25(5), 920-927.
  10. Bananuka, J., Tauringana, V., & Tumwebaze, Z. (2023). Intellectual capital and sustainability reporting practices in Uganda. Journal of Intellectual Capital, 24(2), 487-508.
  11. Barbosa, F., Monteiro, A. P., & Pereira, C. (2021). Determinants of environmental responsibility disclosure on mandatory and voluntary reporting of Portuguese listed firms. Journal of Environmental Accounting and Management, 9(03), 219-233.
  12. Bédard, J., & Gendron, Y. (2010). Strengthening the financial reporting system: can audit committees deliver?. International journal of auditing, 14(2), 174-210.
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  15. Beretta, S., & Bozzolan, S. (2008). Quality versus quantity: the case of forward-looking disclosure. Journal of Accounting, Auditing & Finance, 23(3), 333-376.
  16. Boomsma, A., & Hoogland, J. J. (2001). The robustness of LISREL modeling revisited. Structural equation models: Present and future. A Festschrift in honor of Karl Jöreskog, 2(3), 139-168.
  17. Caputo, F., Pizzi, S., Ligorio, L., & Leopizzi, R. (2021). Enhancing environmental information transparency through corporate social responsibility reporting regulation. Business Strategy and the Environment, 30(8), 3470-3484.
  18. Chen, X., Weerathunga, P. R., Nurunnabi, M., Kulathunga, K. M. M. C. B., & Samarathunga, W. H. M. S. (2020). Influences of behavioral intention to engage in environmental accounting practices for corporate sustainability: Managerial perspectives from a developing country. Sustainability, 12(13), 5266.
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