THE IMPACT OF SUSTAINABILITY REPORTING ON A COMPANY'S FINANCIAL PERFORMANCE: EVIDENCE FROM DANGOTE CEMENT PLC
サステナビリティ報告が企業の財務パフォーマンスに与える影響：ダンゴートセメントPLCからのエビデンス (AI 翻訳)
Damul Mikat Bulus, Lukman Jimoh Rahim, Folorunsho Florence, Aisha Seth, Wonuola Dantes
🤖 gxceed AI 要約
日本語
本研究は、ナイジェリアのダンゴートセメントを対象に、GRI4に基づくサステナビリティ報告が財務パフォーマンス（ROA、ROE、EPS）に与える影響を分析した。回帰分析の結果、特に社会的開示が財務業績に最も強い正の影響を与えることが示された。サステナビリティ報告の質向上が収益性向上につながると提言している。
English
This study examines the impact of GRI4-based sustainability reporting on financial performance (ROA, ROE, EPS) using data from Dangote Cement Plc in Nigeria. Regression results show positive effects, with social disclosure having the strongest impact. The study recommends improving sustainability reporting quality to enhance profitability.
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
本論文は、ナイジェリアのセメント企業という新興市場の事例を加え、サステナビリティ報告と財務業績の関係に関する国際的な議論に貢献している。ただし、SSBJやTCFDを主眼とする日本の開示実務に直接関連するものではないが、報告の質向上が業績に結びつく可能性を示唆している。
In the global GX context
This paper adds empirical evidence from an African emerging market to the global debate on the business case for sustainability reporting, whereas most studies focus on developed economies. For global practitioners, it reinforces the finding that ESG disclosure can enhance financial performance, though the context-specific nature should be noted.
👥 読者別の含意
🔬研究者:Provides evidence from a Nigerian cement company on the positive relationship between GRI-based sustainability disclosure and financial performance.
🏢実務担当者:Reinforces the importance of comprehensive social and economic disclosure for profitability, but may not be directly transferable without local context.
🏛政策担当者:Offers developing-country evidence that could inform disclosure regulations aimed at improving corporate accountability.
📄 Abstract（原文）
Sustainability reporting has become an important component of modern corporate disclosure as firms increasingly communicate their environmental, social, and governance (ESG) practices to stakeholders. This study examines the effect of sustainability reporting on firm financial performance using Dangote Cement Plc as a case study. The study is motivated by the ongoing debate in the literature on whether sustainability reporting improves, reduces, or has no effect on firm performance. Sustainability reporting is operationalized using Global Reporting Initiative (GRI4)-based economic, environmental, and social disclosure indices, while firm performance is measured using return on assets (ROA), return on equity (ROE), and earnings per share (EPS). Using a dataset of 120 firm-period observations, the study applies descriptive statistics, correlation analysis, diagnostic testing, and multiple regression analysis. The regression results reveal that sustainability reporting positively influences firm performance. Social disclosure shows the strongest effect on financial performance, with coefficients of β = 0.156 (p < 0.01) for ROA, β = 0.201 (p < 0.01) for ROE, and β = 3.476 (p < 0.05) for EPS. Economic disclosure also exhibits significant positive relationships with ROA (β = 0.114, p < 0.05) and ROE (β = 0.138, p < 0.05), while environmental disclosure shows a positive but relatively weaker effect on performance indicators (ROA: β = 0.082, p < 0.10; ROE: β = 0.095, p < 0.10). The findings suggest that improved sustainability disclosure enhances profitability by strengthening stakeholder confidence, operational efficiency, and corporate legitimacy. The study recommends that firms in Nigeria strengthen the quality, credibility, and assurance of sustainability reporting to maximize long-term financial and reputational benefits.
🔗 Provenance — このレコードを発見したソース
- semanticscholar https://doi.org/10.57233/ijamer.v2i2.12first seen 2026-06-30 05:33:30
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