統合環境・経済会計（IEEA）開示が企業価値に与える影響

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

🔬研究者:開示内容の種類別に企業価値への影響を分解した実証設計は、開示の価値関連性研究の参考になる。

🏢実務担当者:是正措置や地域参加など実質的な開示が市場評価に効く可能性を示し、開示の質向上の根拠となる。

🏛政策担当者:IFRS準拠サステナビリティ開示の執行強化と実質的報告の促進を支持するエビデンスを提供する。

This study examined the effect of Integrated Environmental–Economic Accounting (IEEA) disclosures on the firm value, measured by Tobin’s Q, of publicly traded oil and gas companies in Nigeria. The research was motivated by increasing regulatory and stakeholder demands for sustainability disclosures within the IFRS sustainability reporting framework, particularly in environmentally sensitive industries. A retrospective study design was utilised, employing panel data obtained from the annual reports of five publicly traded oil and gas companies in Nigeria over a five-year period (2020–2024). Environmental disclosure variables were measured by content analysis, awarding numerical scores to remediation disclosure, environmental liability disclosure, community participation disclosure, and environmental accounting disclosure, while incorporating firm size as a control variable. Descriptive statistics indicated moderate to high levels of disclosure for remediation and community participation, with mean scores of 3.84 and 3.67, respectively, whereas environmental liability and environmental accounting disclosures exhibited lower mean values of 2.91 and 2.76. Tobin's Q averaged 1.18, signifying a moderate market valuation across the examined firms. Panel regression analysis, conducted via a fixed-effects model, indicated that remediation disclosure (β = 0.214, p < 0.05) and community engagement disclosure (β = 0.193, p < 0.05) had a positive and statistically significant impact on Tobin’s Q. Environmental liability disclosure (β = 0.087, p > 0.05) and environmental accounting disclosure (β = 0.064, p > 0.05) shown beneficial albeit statistically negligible impacts. Firm size exhibited a substantial positive effect on Tobin’s Q (β = 0.276, p < 0.01). The model accounted for almost 68% of the variability in firm valuation (Adjusted R² = 0.68). The research determined that focused sustainability disclosures, especially those related to remediation and community participation, substantially increase firm value in the Nigerian oil and gas industry. The results highlight the significance of trustworthy and stakeholder relevant sustainability reporting in enhancing investor confidence and market valuation. The study advocated for enhanced enforcement of IFRS-compliant sustainability disclosure standards and increased focus on substantial environmental and social reporting by oil and gas companies.

• openalex https://doi.org/10.56201/ijefm.v11.no1.2026.pg93.106first seen 2026-10-01 05:00:25