Global Warming and Corporate Sustainability of Nigerian Listed Firms
地球温暖化とナイジェリア上場企業の企業持続可能性 (AI 翻訳)
Onipe Adabenege Yahaya
🤖 gxceed AI 要約
日本語
本研究は、ナイジェリア上場企業148社（2011～2025年）のパネルデータを用いて、地球温暖化が企業の持続可能性（炭素排出開示・環境情報開示）に与える影響を分析。固定効果・変量効果モデルとGMM推定により、気温上昇は自主的な炭素排出開示を促進する一方、実際の排出削減努力とは負の相関があることを発見。大企業やサステナビリティ委員会設置企業は開示品質が高いが、炭素集約セクターでは開示が拡大的で選択的である。規制環境がこの関係を緩和する。
English
This study examines the impact of global warming on corporate sustainability, focusing on carbon emission reporting and environmental disclosures among 148 Nigerian listed firms (2011-2025). Using panel regressions and GMM, it finds that rising temperatures are positively associated with voluntary carbon disclosures but negatively correlated with actual emission reductions, indicating performative sustainability. Larger firms and those with sustainability committees show higher disclosure quality, while carbon-intensive sectors produce extensive but selective disclosures. Regulatory environment positively moderates this relationship.
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
ナイジェリアという新興市場における気候開示の実証研究であり、日本企業の海外子会社管理やサプライチェーン上の排出開示の参考になる。特に、開示と実質削減の乖離（パフォーマティブ・サステナビリティ）は、日本の有報・統合報告書における「建前」開示のリスクを考える上で示唆に富む。
In the global GX context
This paper provides rare empirical evidence from sub-Saharan Africa on the gap between climate disclosure and actual emission reductions, a key concern in global GX scholarship. It highlights the role of regulatory frameworks (SEC requirements) in moderating disclosure quality, offering insights for ISSB and CSRD implementation in emerging economies. The performative sustainability finding resonates with global debates on greenwashing.
👥 読者別の含意
🔬研究者:Provides panel data evidence on the disclosure-performance gap in an African emerging market, useful for comparative studies on climate finance and legitimacy theory.
🏢実務担当者:Highlights the risk of performative sustainability; corporate teams should ensure disclosure aligns with actual emission reduction efforts, especially in carbon-intensive sectors.
🏛政策担当者:Demonstrates that regulatory disclosure requirements can improve reporting quality but may not guarantee substantive emission cuts; useful for designing effective climate policies in developing countries.
📄 Abstract（原文）
The intersection of global warming and corporate sustainability has attracted increasing scholarly and policy attention, yet empirical evidence from emerging markets—particularly Nigeria—remains thin. This study investigates the impact of global warming on corporate sustainability, specifically carbon emissions reporting and environmental disclosures, among 148 listed firms on the Nigerian Exchange Group (NGX) over the period 2011–2025. Drawing on a balanced panel dataset of 2,220 firm-year observations, the study employs fixed-effects and random-effects panel regression models, alongside system Generalised Method of Moments (GMM) estimation to address potential endogeneity. The theoretical underpinning integrates Stakeholder Theory, Legitimacy Theory, and the Resource-Based View. Control variables include firm size, leverage, industry type, GDP growth, inflation, regulatory environment, board composition, sustainability committees, and exposure to carbon-intensive sectors. Results reveal that rising average global temperatures and associated climate risk indicators are positively associated with voluntary carbon emission disclosures but negatively correlated with actual emission reduction efforts, suggesting a performative rather than substantive sustainability response among Nigerian listed firms. Larger firms and those with dedicated sustainability committees demonstrate significantly higher environmental disclosure quality. Firms operating in carbon-intensive sectors—oil and gas, cement, and power—exhibit the highest emissions but paradoxically produce more extensive, though selectively framed, disclosures. The regulatory environment, proxied by the Securities and Exchange Commission's sustainability disclosure requirements, moderates this relationship positively. These findings carry critical implications for regulators, boards, investors, and policymakers seeking to align corporate behaviour with climate imperatives in sub-Saharan Africa.
🔗 Provenance — このレコードを発見したソース
- openalex https://doi.org/10.5281/zenodo.19468156first seen 2026-05-05 19:11:48
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