Corporate Sustainability Reporting and Firm Growth of Hotel and Tourism Companies Listed in Nigeria: A Moderating Role of Ownership Structure

The study examined the effect of moderating effect of ownership structure on the relationship between corporate sustainability reporting and firm growth in Nigeria listed Hotels and Tourism firms. The study employed ex-post facto research design to sample four (4) Hotels and Tourism firms listed on the Nigeria Exchange Group (NGX) for the period 2014 to 2023. The data were analysed using descriptive statistics, correlation matrix and panel estimation method. Using panel regression analysis on data from four firms, findings reveal that environmental sustainability reporting has a significant positive effect on firm growth, while social sustainability reporting does not. Ownership structure positively moderates the relationship between environmental reporting and firm growth, but negatively moderates the social sustainability-growth link.The study recommended that regulatory agencies like the Financial Reporting Council of Nigeria (FRCN) should mandate hotel and tourism businesses to disclose on issues relating to energy use and emissions, water management, waste management and biodiversity and land use because they impact greatly on the environment and its disclosure contributes positively to the growth of the firm.