ナイジェリアの預金取扱銀行におけるサステナビリティ開示が企業価値に与える影響
EFFECT OF SUSTAINABILITY DISCLOSURE ON FIRM’S VALUE OF DEPOSIT MONEY BANKS IN NIGERIA (原題)
Oladehinde Oladejo Morufu, Rasheed Aderemi
🤖 gxceed AI 要約
日本語
ナイジェリアの預金取扱銀行を対象に、2015〜2024年のパネルデータでESG開示（環境・社会・ガバナンスを統合したSUD指数）が企業価値（Tobin's Q）に与える影響を検証。固定効果モデルの結果、統合開示は企業価値に有意な正の効果を持ち、特にガバナンス開示の影響が最も強い。企業規模は正、レバレッジは負の効果。ESG報告の強化と規制当局による開示枠組み整備を提言している。
English
Using 2015–2024 panel data on Nigerian deposit money banks, this study tests whether an aggregated ESG Sustainability Disclosure Index affects firm value (Tobin's Q). Fixed-effects regression finds a significant positive effect, strongest for governance disclosure, followed by social and environmental. Firm size is positive and leverage negative. The authors urge stronger ESG reporting and regulatory framework development.
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
新興国銀行セクターでのESG開示と企業価値の実証は、日本のSSBJ基準導入や有報でのサステナビリティ開示義務化を検討する際の国際比較材料となる。特にガバナンス開示の効果が最大という知見は、日本企業の統合報告書におけるガバナンス記述の投資家評価を考える上で示唆に富む。
In the global GX context
This adds emerging-market banking evidence to the global ESG-disclosure-to-firm-value literature, complementing TCFD/ISSB-aligned studies from advanced economies. The finding that governance disclosure dominates is relevant to CSRD/ISSB debates on which ESG pillars investors price most, and to transition-finance discussions in African banking sectors.
👥 読者別の含意
🔬研究者:Provides a replicable panel-design template for testing ESG disclosure value relevance in bank sectors of emerging economies.
🏢実務担当者:Suggests that strengthening governance-related disclosure may yield the largest valuation benefit for banks in similar markets.
🏛政策担当者:Supports continued regulatory development of ESG reporting frameworks to reduce information asymmetry in banking.
📄 Abstract（原文）
This study examines the effect of sustainability disclosure on the firm value of deposit money banks in Nigeria. Employing a panel data approach covering the period 2015–2024, the study evaluates sustainability disclosure through three dimensions environmental, social, and governance using an aggregated Sustainability Disclosure Index (SUD). Firm value is measured using Tobin’s Q, while firm size and leverage serve as control variables. A fixed-effects panel regression model, guided by the Hausman specification test, is applied to determine the relationships between sustainability disclosure and firm value. The results indicate that aggregate sustainability disclosure has a positive and statistically significant effect on firm value, with governance disclosure exerting the strongest influence, followed by social and environmental disclosure. Firm size is positively associated with firm value, whereas leverage exhibits a negative effect. The findings underscore the strategic importance of comprehensive Environmental, Social, and Governance (ESG) reporting in enhancing investor confidence, reducing information asymmetry, and improving market-based firm performance. The study recommends that deposit money banks strengthen their sustainability reporting practices, with particular emphasis on governance disclosure, and that regulatory authorities continue to enhance ESG reporting frameworks to foster transparency and sustainable financial performance.
🔗 Provenance — このレコードを発見したソース
- semanticscholar https://cambridgeresearchpub.com/ijmsbar/article/download/1375/1278first seen 2026-10-17 05:15:32 · last seen 2026-11-06 05:26:22
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