Acta Universitatis Danubius. Œconomica, Vol 16, No 1 (2020)

Abstract

Reporting via the internet or web has gained popularity and acceptance in the advanced world but the same cannot be said of developing economies .The study therefore examined the level of adoption of  web-based reporting practices among selected listed manufacturing firms in Nigeria. The population for the study consist of all 90 manufacturing firms listed on the Nigerian Stock Exchange (NSE). Forty five (45) firms were purposively selected. Structured questionnaire was the instrument used in sourcing primary data. The data was analyzed using Principal Component Analysis (PCA). The results showed that the listed manufacturing firms in Nigeria are exploring the possibility of using or adopting fully web-based reporting. The exploration variables has the highest Eigen values of 4.4297784 and 2.0077 among the extracted components. The study however, recommended that law should be enacted to compel companies to adopt web based reporting and that companies should be encouraged to employ Extensible Business Reporting Language (XBRL) in reporting.