ナイジェリア上場産業財企業におけるサステナビリティ報告と株価
Sustainability Reporting and Share Price of Listed Industrial Goods Companies in Nigeria (原題)
Hope Udoma Samuel
🤖 gxceed AI 要約
日本語
ナイジェリア証券取引所上場の産業財企業11社を対象に、2016〜2025年のサステナビリティ報告が株価に与える影響を頑健回帰で分析。環境・社会・経済の各開示がいずれも市場株価に有意な正の効果を持つことを示した。開示の透明性向上が投資家評価に直結することを新興国市場で実証した点が貢献。
English
Using robust regression on 11 Nigerian Exchange-listed industrial goods firms (2016-2025), this study finds environmental, social, and economic sustainability disclosures all significantly raise market share price. It provides emerging-market evidence that ESG transparency is priced by investors, reinforcing disclosure-driven valuation effects outside developed markets.
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
日本ではSSBJ基準・有報でのサステナビリティ開示義務化が進む中、開示と企業価値の関係を新興国で検証した本論文は、開示の経済的効果に関する国際比較材料として参考になる。ただしナイジェリア固有の制度・市場環境のため直接適用は限定的。
In the global GX context
Amid ISSB/CSRD-driven global disclosure harmonization, this paper adds emerging-market evidence that sustainability reporting correlates with share price, complementing developed-market studies and supporting the case for disclosure infrastructure in lower-income economies where ESG frameworks are nascent.
👥 読者別の含意
🔬研究者:新興国市場におけるESG開示と企業価値の実証的関連を、頑健回帰手法で示した比較研究材料。
🏢実務担当者:開示フレームワーク整備が投資家評価・株価向上に寄与しうることを示す、新興国事業展開企業向けの根拠。
🏛政策担当者:新興国でのサステナビリティ開示制度設計・義務化の政策的正当性を裏付ける実証データ。
📄 Abstract（原文）
The main objective of this study was to examine the effect of sustainability reporting on share price of industrial goods firms listed on the Nigerian Exchange Group from 2016 to 2025 The research design employed in this study was ex post facto. The population of this study comprised 13 listed industrial goods firms and the 11 of them were purposively selected as the sample size. Secondary data were used and the data employed were analyzed using Robust regression technique and the statistical software adopted was STATA version 14. The findings of the study revealed that environmental disclosure has significant positive effect on market price per share; social sustainability reporting (Coef. 0.136 p-value 0.024) has significant positive effect on market price per share; economic sustainability reporting (Coef. 0.031 p-value 0.000) has significant positive effect on market price per share of listed industrial goods companies in Nigeria. It was therefore concluded that sustainability reporting has significant effect on share price of listed industrial goods firms in Nigeria. Based on these findings, it was recommended among others that firms should adopt robust frameworks that detail environmental, social, and economic sustainability efforts as this disclosure practices will improve transparency and meet the growing expectations
🔗 Provenance — このレコードを発見したソース
- openalex https://doi.org/10.56201/jafm.vol.12.no9.2026.p254.269first seen 2026-10-14 05:11:18
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