Impact of Sustainability Reporting on Financial Performance of Listed Oil and Gas Firms in Nigeria: The Moderating Effect of Petroleum Industry Act (PIA) Compliance.

日本語

本研究は、ナイジェリアの上場石油・ガス企業のサステナビリティ報告（油流出修復開示、廃止・資産除去開示）が財務業績に与える影響を検証し、石油産業法遵守指数（PIACI）の調整効果を分析した。結果、PIACIが高い企業ほど、サステナビリティ開示と財務パフォーマンスの正の関係が強まることが示された。

English

This study examines the effect of sustainability reporting (Oil Spill Remediation Disclosure and Decommissioning & Asset Retirement Disclosure) on the financial performance of listed oil and gas firms in Nigeria, with the Petroleum Industry Act Compliance Index (PIACI) as a moderator. Findings indicate that higher PIACI strengthens the positive relationship between sustainability disclosure and financial performance.

日本のGX文脈において

ナイジェリアに進出する日本企業や資源投資家にとって、現地の石油産業法遵守がサステナビリティ報告の財務効果を高める可能性を示唆。日本のSSBJ・有報における「実効性のある開示」の議論にも示唆を与える。

In the global GX context

This paper provides empirical evidence from an African emerging market on how regulatory compliance moderates the financial benefits of sustainability reporting. It contributes to the global debate on the materiality of environmental disclosure under ISSB and TCFD, particularly in the oil and gas sector.