INVESTIGATING THE DEVELOPMENT OF ENVIRONMENTALDISCLOSURES BY OIL AND GAS COMPANIES OPERATING INLIBYA: A COMPARATIVE STUDY

This paper concerns oil and gas companies operating inLibya. It investigates therelationship between the level of environmental disclosure and companycharacteristics. The researchers identified a number of characteristics thatassociated with companies’ environmental disclosure, namely, company size,company privatisation, company age and company’s nationality. In the light of theempirical results it is noticed that almost all companies disclose someenvironmental information. In addition a significant positive association wasfound between level of environmental disclosure and company size, companyprivatisation and company’s nationality. The study provides further evidence thatthese characteristics are important and have animpact on the level and value ofenvironmental disclosure. On the other hand it was found that age of company isinsignificant and negatively related to the level of environmental disclosure