Global Journal of Management and Business Research, D: Accounting and Auditing, Volume 21 Issue 2

Source: Researcher’s computation, 2021 Figure 2: Consumer Goods Sector Source: Researcher’s computation, 2021 Figure 3: Oil and Gas Sector d) Environmental Accounting Disclosure and Financial Performance The F-statistics value of 3.91 (0.00) and 3.31 (0.00) for fixed and random effect models respectively shown in table 4 revealed that results are valid for inferential testing since they are both statistically significant at 5%. In testing for the cause-effect relationship between the variables, in model 1, the two widely used panel data regression estimation techniques (fixed effect and random effect) were adopted. Table 4 present the two panel data estimation techniques results (fixed effect and random effect). In selecting from the two panel regression estimation results, the Hausman test was conducted based on the null hypotheses that the random effect is preferred to fixed effect, for model 1. The result of the p-value of the Hausman test (0.9073), imply that we reject the null hypothesis and accept the alternative hypothesis at a 5 percent level of significance. The study adopted the fixed effect panel 0 0.1 0.2 0.3 0.4 0.5 0.6 0.7 0.8 CONSUMER GOODS CONSUMER GOODS CONSUMER GOODS CONSUMER GOODS CONSUMER GOODS CONSUMER GOODS CONSUMER GOODS CONSUMER GOODS CONSUMER GOODS CONSUMER GOODS CONSUMER GOODS CONSUMER GOODS CONSUMER GOODS CONSUMER GOODS CONSUMER GOODS CONSUMER GOODS CONSUMER GOODS CONSUMER GOODS CONSUMER GOODS CONSUMER GOODS CONSUMER GOODS CONSUMER GOODS CONSUMER GOODS CONSUMER GOODS CONSUMER GOODS CONSUMER GOODS CONSUMER GOODS endindex 0 0.02 0.04 0.06 0.08 0.1 0.12 0.14 OIL AND GASS OIL AND GASS OIL AND GASS OIL AND GASS OIL AND GASS OIL AND GASS OIL AND GASS OIL AND GASS OIL AND GASS OIL AND GASS OIL AND GASS OIL AND GASS OIL AND GASS OIL AND GASS OIL AND GASS OIL AND GASS OIL AND GASS OIL AND GASS OIL AND GASS OIL AND GASS OIL AND GASS OIL AND GASS OIL AND GASS OIL AND GASS OIL AND GASS OIL AND GASS OIL AND GASS Chart Title © 2021 Global Journals 2 Global Journal of Management and Business Research Volume XXI Issue II Version I Year 2021 ( ) D 24 Environmental Accounting Disclosure and Financial Performance of Listed Multinational Firms in Nigeria