ナイジェリア上場コングロマリット企業における炭素会計開示と企業価値

Unofficial AI-generated summary based on the public title and abstract. Not an official translation.

🔬研究者:Provides empirical evidence on the value relevance of carbon disclosures in an African emerging market, useful for comparative studies.

🏢実務担当者:Highlights which carbon disclosure dimensions are most valued by investors, guiding reporting priorities.

🏛政策担当者:Supports the case for standardized carbon reporting regulations to enhance market transparency.

This study investigates how carbon accounting disclosures influence the firm value of listed conglomerate firms in Nigeria. Growing global attention on climate-related risks has increased the importance of transparent carbon reporting, particularly as investors increasingly rely on environmental information in evaluating long-term performance. However, in the Nigerian context, carbon disclosure practices remain largely voluntary and uneven, raising concerns about their effectiveness in informing market valuation. An ex-post facto research design was adopted, utilizing panel data drawn from the annual, sustainability, and integrated reports of selected conglomerate firms listed on the Nigerian Exchange Group over the period 2016 to 2025. Carbon accounting disclosure was examined across seven key dimensions: carbon emission reporting, disclosure of reduction strategies and targets, energy efficiency and low-carbon initiatives, carbon management policies, governance structures, compliance with climate-related regulations, and adherence to climate-related reporting standards. Firm value was measured using market capitalization. The analysis employed panel regression techniques, including pooled ordinary least squares, fixed effects, and random effects models, with the Hausman test guiding model selection. The findings indicate that disclosures relating to carbon emissions, reduction strategies, energy efficiency initiatives, and compliance with reporting standards have a positive and statistically significant influence on market capitalization. In contrast, disclosures relating to carbon management policies and regulatory compliance show limited impact, while governance related disclosures exhibit a moderate positive effect. The study concludes that carbon accounting disclosures, particularly those that are forward-looking and aligned with internationally recognized frameworks, play a meaningful role in shaping investor perception and enhancing firm value. It recommends that conglomerate firms strengthen the depth and consistency of their carbon disclosures, while regulatory authorities should promote standardized reporting practices to improve transparency and comparability within the capital market.

• semanticscholar https://iiardjournals.org/get/IJEBM/VOL. 12 NO. 6 2026/CARBON ACCOUNTING DISCLOSURES 324-340.pdffirst seen 2026-08-20 05:21:07 · last seen 2026-09-22 05:14:40