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EFFECT OF SUSTAINABILITY REPORTING DISCLOSURE ON FIRM VALUE OF LISTED COMPANIES IN NIGERIA

ナイジェリア上場企業におけるサステナビリティ報告開示が企業価値に与える効果 (AI 翻訳)

Hilary Emeka (ACA) Afodigbueokwu, Kerry-Taiwo Abosade, Lawrence Adewusi Dr. Idowu

Zenodo (CERN European Organization for Nuclear Research)📚 査読済 / ジャーナル2026-06-19#ESGOrigin: Global対象セクター: manufacturing
DOI: 10.5281/zenodo.20762877
原典: https://doi.org/10.5281/zenodo.20762877

🤖 gxceed AI 要約

日本語

本研究は、2014年から2023年までのナイジェリア製造業企業を対象に、サステナビリティ報告が企業価値に与える影響を分析した。社会的指標はROAに、環境指標はROIに有意な影響を与えなかったが、経済的指標は株価に正の影響を与えた。企業は経済的パフォーマンスの強化に注力すべきと結論づけている。

English

This study examines the effect of sustainability reporting on firm value for Nigerian manufacturing firms from 2014-2023. It finds that social and environmental performance indices have no significant effect on return on assets or return on investment, respectively, but economic performance indices positively affect stock prices. The authors recommend firms focus on strengthening economic metrics to boost market valuation.

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

日本企業にとってはナイジェリア市場での現地子会社のサステナビリティ報告戦略に示唆を与えるが、SSBJやTCFDなどの日本固有の開示枠組みとは直接関係しない。

In the global GX context

This paper adds empirical evidence from an emerging market (Nigeria) to the global debate on sustainability reporting and firm value, though it does not address advanced climate disclosure standards like TCFD or ISSB.

👥 読者別の含意

🔬研究者:Provides a baseline study for sustainability reporting in an African context, useful for comparative emerging market research.

🏢実務担当者:Highlights that economic performance indicators are the most value-relevant in Nigerian manufacturing, guiding disclosure priorities.

🏛政策担当者:Offers evidence for Nigerian regulators on the limited direct impact of social/environmental disclosures on firm value.

📄 Abstract（原文）

This study examined the effect of sustainability reporting on firm value of manufacturing firms in Nigerian from (2014-2023). Three research questions guided the study and corresponding three hypotheses was developed for the study. Specifically, the study focused on determining the effect of social performance indices on return on assets; determining the effect of environment performance indices on return of investment and to determine the effect of economic performance indices on stock prices. Ex-post facto research design was employed in the study. The population of the study included fifty-three (53) manufacturing firms quoted on the Nigerian Exchange Group (NGX) as at 31st December 2023. Amongst other preliminary analysis and tests, the ordinary least square regression was employed in validating the hypotheses of the study. The study found that social performance indices have no effect on return on assets (P > 0.05); environment performance indices have no effect on return of investment (P > 0.05); economic performance indices have an effect on organizations stocks price (P < 0.05). Consequent on the above findings, I was therefore recommended amongst others that firms should focus on strengthening their economic performance indices, such as profitability and financial growth, as these are found to have a significant positive effect on stock prices. By enhancing these metrics, companies can boost market valuation and attract investors.

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gxceed は公開メタデータに基づく研究支援データセットです。要約・翻訳・解説は AI 支援で生成されています。 最終的な解釈・検証は利用者が原典資料に基づいて行うことを前提とします。