ナイジェリア上場保険会社におけるESG開示と財務業績：会計指標と市場指標による証拠
Environmental, Social and Governance Disclosures and Financial Performance of Listed Insurance Firms in Nigeria: Evidence from Accounting and Market Measures (原題)
(著者不明)
🤖 gxceed AI 要約
日本語
ナイジェリア上場保険会社23社の2012～2023年データを用い、ESG開示と財務業績（ROA・MVS）の関係をパネル回帰で分析。環境開示はROAと正だが非有意、MVSと負で非有意。社会開示は両指標と正だが非有意、ガバナンス開示はROAと負、MVSと正でいずれも非有意。ESG開示は一様な影響を持たず、開示の質・一貫性向上と規制指針の強化を提言。
English
Using panel regression on 23 Nigerian listed insurers (2012–2023), this study examines ESG disclosure effects on ROA and market value per share. Environmental disclosure is positively but insignificantly related to ROA and negatively to MVS; social disclosure is positive but insignificant for both; governance is negative for ROA and positive for MVS, both insignificant. It concludes ESG disclosures lack uniform financial impact and calls for better disclosure quality and regulatory guidance.
Unofficial AI-generated summary based on the public title and abstract. Not an official translation.
📝 gxceed 編集解説 — Why this matters
日本のGX文脈において
新興国・保険セクターにおけるESG開示と財務業績の関係を示す実証研究。日本企業のSSBJ・有報対応や投資家向けESG開示の効果検証を考える上で、セクター別・地域別の比較材料となる。
In the global GX context
Provides sector-specific, emerging-market evidence on how individual ESG disclosure dimensions relate to accounting and market performance. Useful for global disclosure scholarship comparing ISSB/CSRD adoption effects across jurisdictions and sectors, though it lacks climate-specific (GX) variables.
👥 読者別の含意
🔬研究者:ESG開示と財務業績の非有意な関係を示す新興国・保険セクターの実証例として、開示指標設計や因果推論の課題を検討する材料になる。
🏢実務担当者:ESG開示の質・一貫性向上が投資家評価に資する可能性を示唆するが、財務インパクトは限定的である点に留意。
🏛政策担当者:新興国におけるESG開示規制の強化とガイダンス整備の必要性を示す証拠として参考になる。
📄 Abstract（原文）
This study examined the relationship between environmental, social and governance (ESG) disclosures and the financial performance of listed insurance firms in Nigeria. Specifically, the study assessed the effects of environmental, social and governance disclosures on accounting and market measures of financial performance, represented by return on assets (ROA) and market value per share (MVS), respectively. The study adopted an ex post facto research design and used secondary data obtained from the annual reports of 23 insurance firms listed on the Nigerian Exchange Group over the period 2012–2023. ESG disclosures were measured using a disclosure scoring approach, while panel regression techniques were employed to analyse the data. The findings revealed that environmental disclosure had a positive but statistically insignificant relationship with ROA and a negative but statistically insignificant relationship with MVS. Social disclosure had positive relationships with both ROA and MVS, but the relationships were statistically insignificant. Governance disclosure had a negative and statistically insignificant relationship with ROA but a positive relationship with MVS. The study concludes that ESG disclosures do not exert a uniform influence on the financial performance of listed insurance firms in Nigeria. The study contributes to the literature by providing sector-specific evidence on the individual effects of ESG disclosure dimensions on both accounting and market measures of financial performance, based on comprehensive evidence from all listed insurance firms in Nigeria. The study recommends improved quality, consistency and relevance of ESG disclosures, alongside stronger regulatory guidance, to enhance their usefulness to investors and other stakeholders.
🔗 Provenance — このレコードを発見したソース
- semanticscholar https://rsisinternational.org/journals/ijriss/uploads/vol10-iss8-pg4785-4813-202609_pdf.pdffirst seen 2026-09-12 05:54:59 · last seen 2026-09-22 05:21:44
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