Impact of metaverse and corporate social responsibility on agriculture production and accounting firm performance output of nigerian firms
DOI:
https://doi.org/10.56294/mr2024.95Keywords:
Metaverse, CSR, Agriculture Production, Accounting Firm, NigeriaAbstract
The study objective is to examine the impact of the metaverse and corporate social responsibility (CSR) on agriculture production and accounting firm performance output of Nigerian firms. The study ascertained that metaverse is described as a communal virtual shared environment that is produced when physically persistent virtual reality (VR) and virtually augmented physical reality collide while CSR assists firms in becoming socially responsible to the public, their stakeholders, and themselves. the study findings recognized that firms that effectively use technology to showcase their dedication to ethical CSR practices will likely draw investors who support the Sustainable Development Goals (SDGs). Thus, the production of agricultural products and the performance of accounting businesses within Nigerian firms are significantly impacted by both the metaverse and CSR. Their integration improves community ties, stimulates creativity, increases productivity, supports sustainability, and eventually results in a stronger economic framework within Nigeria's crucial agriculture industry. It was concluded in the study that the synergistic impact that improves the performance of accounting firms and agricultural production is produced when CSR initiatives are combined with metaverse technologies. Businesses can create creative solutions to address social concerns that farmers confront, including market access or teaching about sustainable practices, by utilizing the metaverse technology included in CSR frameworks
References
1. Allam Z, Sharifi A, Bibri SE, Jones DS, Krogstie, J. The metaverse as a virtual form of smart cities: Opportunities and challenges for environmental, economic, and social sustainability in urban futures. Smart Cities 2022, 5, 771-801. https://doi.org/10.3390/smartcities5030040
2. Ioannis K, Grigorios, G, Labros S, Stavros K, Dimitrios S. Stressing Corporate Social Responsibility for Business Sustainability: Empirical Analysis of CSR Practices, Motivations and Growth Impacts in Post-Crisis Greece. Journal of System and Management Sciences 2024; Vol. 14, 7, 301-325 DOI:10.33168/JSMS.2024.0716
3. Uwhejevwe-Togbolo SE, Festus Elugom FE, Iguemedere Ofomaja N. Ethical use of data in the metaverse for corporate social responsibility. Metaverse Basic and Applied Research 2024; 3:61. doi.org/10.56294/mr202461.
4. Krishna D, Kumar A, Amit KD. Antecedents of smart farming adoption to mitigate the digital divide – extended innovation diffusion model. Technology in Society 2023; 75:102348. https://doi.org/10.1016/j.techsoc.2023.102348.
5. Pradeep M, Amit T. Smart Sensor-Based Smart Agriculture for Better Crop Production in This Smart Era Smart Sensor-Based Smart Agriculture for Better Crop Production. AI Applications for Business, Medical, and Agricultural Sustainability. Publisher: IGI Gobal platform 2024. DOI:10.4018/979-8-3693-5266-3.ch009
6. Dolman’s Chartered Accountants. The Role of Agriculture Accounting in Modern Farming 25th June 2024. Retrieved on the 18th of August, 2024 from https://www.dolmansaccountants.co.uk/the-role-of-agriculture-accounting-in-modern-farming/
7. FAO. The role of true cost accounting in guiding agrifood businesses and investments towards sustainability. FAO AGRICULTURAL DEVELOPMENT ECONOMICS WORKING PAPER 23–13, 2023. Retrieved on the 15th of August, 2024 from https://openknowledge.fao.org/server/api/core/bitstreams/95963694-eff9-4eb3-a2cc-dfa0a0cbd67c/content
8. Muhammed ZH, Fatema TJ. Cybersecurity in Accounting: Protecting Financial Data in the Digital Age. 2024, DOI:10.2139/ssrn.4868132
9. AICPA-CIMA. The crucial role of cybersecurity for accounting firms. 2023. Retrieved 16th August, 2024, from https://www.aicpa-cima.com/professional-insights/article/thecrucial-role-of-cybersecurity-for-accounting-firms
10. Al-Mansoori S, Salem, MB. The role of artificial intelligence and machine learning in shaping the future of cybersecurity: trends, applications, and ethical considerations. International Journal of Social Analytics, 2023; 8, 9, 1-16.
11. Gonzalez J. Accounting and the Metaverse. Retrieved on 9th of September, 2024 from
https://insightfulaccountant.com/in-the-news/people-and-business/accounting-and-the-
metaverse/
12. Uwhejevwe-Togbolo SE, Enaibre Ighosewe F, Festus Ubogu E. Accounting firm performance and the metaverse realism in Nigeria. Metaverse Basic and Applied Research. 2024; 3:69. https://doi.org/10.56294/mr202469
13. Uwhejevwe-Togbolo SE, Orjinta CM, Okoli PC. Corporate social responsibility and tax aggressiveness amidst subsidy removal amongst listed firms in Nigeria. International Journal of Academic Accounting, Finance & Management Research 2023; 7:8, 9-16
14. Uwhejevwe-Togbolo SE, Esenohor ET, Erume FO. Theories in Auditing of Social Accounting, Service Organization and Financial Institutions. Vocational and Technical Education Journal, 2020; 2:1, 2697
15. Shahper R, Alexander, R. What is novel about the Metaverse?, International Journal of Information, Management, 2023; 73: 102684. https://doi.org/10.1016/j.ijinfomgt.2023.102684.
16. Mamudu A, Mamudu A, Elehinafe F, Akinneye D. Recent trends in corporate social responsibilities in Nigeria-A case study of major oil firms in the Niger Delta Region. Scientific African 2021; 13:e00928. doi.org/10.1016/j.sciaf.2021.e00928.
17. Ahmad N, Ullah Z, Ryu HB, Ariza-Montes A, Han H. Corporate social responsibility to employee well-being: Navigating the pathway to sustainable healthcare. Psychol Res Behav Manag 2023; 5:16, 1079-1095. doi: 10.2147/PRBM.S398586.
18. Gopal N, Suresh, DN. Challenges of creating sustainable agri-retail supply chains. IIMB Management Review 2018; 30:3, 270-282, doi.org/10.1016/j.iimb.2018.04.001.
19. Al-Gnbri MKA. Accounting and Auditing in the Metaverse World from a Virtual Reality Perspective: A Future Research. Journal of Metaverse 2022; 2:1, 29-41.
20. Howard C. the impact of remote work on accounting firm. 2023 retrieved on the 30th of September, 2024 from https://www.getcanopy.com/blog/the-impact-of-remote-work-on-accounting-firms
21. Khan A, Chen C.-C, Suanpong K, Ruangkanjanases A, Kittikowit S, Chen, S-C. The Impact of CSR on sustainable innovation ambidexterity: The mediating role of sustainable supply chain management and second-order social capital. Sustainability 2021; 13, 12160. https://doi.org/10.3390/su132112160
22. Barbeito-Caamano A, Chalmeta R. Using big data to evaluate corporate social responsibility and sustainable development practices. Corporate Social Responsibility and Environmental Management 2020, 27:17. DOI:10.1002/csr.2006.
23. Sue G. The Metaverse: Unravelling the hype and the future of virtual worlds. ASCILITE Technology Enhanced Learning Blog 2023. Retrieved on the 23rd of August 2024 from https://blog.ascilite.org/the-metaverse-unravelling-the-hype-and-the-future-of-virtual-worlds/
24. Dhanaraju M, Chenniappan P, Ramalingam K, Pazhanivelan S, Kaliaperumal R. Smart farming: Internet of Things (IoT)-based sustainable agriculture. Agriculture 2022; 12:10, 1745. https://doi.org/10.3390/agriculture12101745
25. Umar M, Bishal DS, Vipulesh S. Harvesting success: Metaverse adoption in agriculture sector as a sustainable business strategy. Journal of Enterprise Information Management 2024. DOI:10.1108/JEIM-10-2023-0536
26. Burlea-Schiopoiu A, Popovici N, Panait NG. Metaverse Acceptance by the Accounting Community as a Premise of Sustainable Behavior. Systems 2023; 11:12, 560. https://doi.org/10.3390/systems11120560
Published
Issue
Section
License
Copyright (c) 2024 Prince Efanimjor, Nyerhovwon Okuku, Austin Onome Amughoro, Elizabeth Notenim Atube, Sunny Oteteya Temile, Augustine O. Okwoma, Tedlyn Akpevwe Etu, Samuel Ejiro Uwhejevwe-Togbolo (Author)
This work is licensed under a Creative Commons Attribution 4.0 International License.
The article is distributed under the Creative Commons Attribution 4.0 License. Unless otherwise stated, associated published material is distributed under the same licence.
