ナイジェリア上場消費財企業におけるサステナビリティ報告と企業価値
Sustainability Reporting and Firm Value of Quoted Consumer Goods Firms in Nigeria (原題)
Bamidele Egbita Adejo, Audu Friday
🤖 gxceed AI 要約
日本語
ナイジェリア上場消費財企業16社を2015〜2025年で分析し、サステナビリティ報告が企業価値に与える影響を検証した。環境報告と社会報告は株価に有意な負の効果、ガバナンス報告は有意でない正の効果を示した。廃棄物・エネルギー・排出管理等の詳細開示の強化を提言している。
English
This study examines how sustainability reporting affects firm value among 16 quoted Nigerian consumer goods firms (2015-2025). Environmental and social reporting show significant negative effects on share price, while governance reporting has an insignificant positive effect. It recommends more detailed, measurable environmental disclosure.
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
新興国におけるESG開示と企業価値の関係を示す実証例として、SSBJ基準導入後の日本企業が開示拡充のコストと便益を検討する際の比較材料になる。特に環境・社会開示が短期的に株価へ負の影響を与えうる点は、日本企業の投資家対応を考える上で示唆的。
In the global GX context
Adds emerging-market evidence to the global debate on whether ESG disclosure creates or destroys firm value, complementing TCFD/ISSB-aligned studies mostly from developed markets. The negative short-term market reaction to environmental/social disclosure is relevant to ISSB adoption debates in emerging economies.
👥 読者別の含意
🔬研究者:新興国におけるESG開示と企業価値の因果関係を検証する実証研究の参照例となる。
🏢実務担当者:環境・社会開示の拡充が短期的に市場評価へ負の影響を与えうる点を、開示戦略立案時に考慮すべき。
🏛政策担当者:新興国でのESG開示義務化を検討する際、開示コストと市場反応のバランスを考慮する根拠となる。
📄 Abstract（原文）
Abstract: The growing emphasis on environmental, social, and governance (ESG) practices has made sustainability reporting an important mechanism for enhancing corporate transparency, accountability, and long-term value creation. This study examined the effect of sustainability reporting on firm value of quoted consumer goods firms in Nigeria. The population comprised of all the twenty-one (21) consumer goods firms quoted on Nigeria Exchange Group while purposive sampling technique was used to arrive at sixteen (16) sampled consumer goods firms covering the periods of eleven (11) years ranging from 2015 to 2025. The hypotheses were tested using the robust effect regression model after conducting some diagnostics tests. The findings revealed that both environmental reporting and social reporting has a significant negative effect on market share price of quoted consumer goods firms in Nigeria. The findings also indicated that governance reporting has an insignificant positive effect on market share price of quoted consumer goods firms in Nigeria. The study recommended among others that consumer goods firms in Nigeria should strengthen environmental reporting by providing detailed, accurate and measurable information on waste management, energy consumption, pollution control, emissions reduction, recycling, environmental protection and the efficient use of natural resources. The study further recommended that Firms should demonstrate how effective governance mechanisms contribute to accountability, transparency and long-term value creation. Strong governance reporting can reduce information asymmetry and increase investors' confidence in the reliability of corporate decisions.
🔗 Provenance — このレコードを発見したソース
- openalex https://doi.org/10.5281/zenodo.22679728first seen 2026-09-11 05:07:36 · last seen 2026-09-11 05:07:37
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