The overriding objective of the study is to empirically examine if outliers and asymptotic properties of estimators matter in the estimation of audit delay determinants. The study employed the ex-post causal research design and focuses on a sample of ten (10) listed oil and gas firms in Nigeria. Secondary data from the content analysis of annual reports spanning the period 2010-2019 was used for the study. The study investigates if outliers and asymptotic properties matter in estimation outcomes comparing the following estimators; the standard OLS, Bootstrapped OLS and Robust estimators. The outcome of the study revealed that the robust estimator yields results that are significantly different from those of both the OLS and Bootstrapped OLS estimations. This suggests that the failure to address outliers in standard OLS estimations can significantly bias the estimation outcome and may be responsible for the myriad of inconclusive outcomes observed in the extant academic literature. Hence, the study confirms that in the estimation of determinants of audit delay, the considerations of outliers indeed constitute a significant statistical consideration for researchers and even more germane than asymptotic concerns.

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The paper examines environmental Disclosure Modelling in a Developing Economy using the Craigg double hurdle model and controlling for the role of corporate governance. This study employs the ex-post research design and investigates firm’s environmental disclosures in Nigeria, by controlling for corporate governance characteristics. The study employs a sample of 35 non-financial firms listed on the Nigerian Stock Exchange using the simple random sampling technique. Secondary data retrieved from the financial statements of the selected companies was used for the study. Both the Tobit and double-hurdle models were estimated but based on the Bayesian and Akaike’s information criteria for model selection, the double-hurdle model is preferred. The result reveals that though Board size is not a significant determinant of probability to disclose environmental information in annual reports (-0.0408, p=0.175), it is a significant determinant of the extent of environmental disclosure reports (0.1943, p=0.00) given that a firm has decided to disclose. Board independence is a significant determinant of both probability to disclose environmental information and extent of disclosure (-2.2373, p=0.00) with a negative coefficient. The Board gender diversity is not a significant determinant of probability to disclose environmental information in annual reports (-0.60076, p=0.461), it is a nevertheless a significant determinant of the extent of environmental disclosure reports (-3.5913, p=0.00) when firms then decide to disclose. Institutional ownership turns out to be a significant determinant of both the probability to disclose environmental information and extent of disclosure (0.0273, p=0.00) when firms choose to disclose. Finally, the truncated model results also reveals that though managerial ownership is not a significant determinant of probability to disclose environmental information in annual reports (-0.01352, p=0.148), it is nevertheless a significant determinant of the extent of environmental disclosure reports (-0.0206, p=0.001) when firms then decide to disclose.