Impact of Sustainability Reporting on Financial Performance of Listed Oil and Gas Firms in Nigeria.

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

🔬研究者:Provides empirical evidence on sustainability disclosure and firm performance in an emerging market context, useful for comparative studies.

🏢実務担当者:Highlights the potential investor-attraction benefit of enhanced sustainability disclosure, informing corporate reporting strategies.

🏛政策担当者:Suggests that promoting sustainability disclosure can attract investment, supporting regulatory initiatives in emerging markets.

This study examines impact of sustainability reporting on investor’s behavior in listed oil and gas firms in Nigeria for a period of (10) years ranging from 2014 to 2023. The study utilizes four dimensions of sustainability reporting, (Environmental, Social, Governance and Economic) sustainability reporting while Firm Performance been the dependent variable was proxied by Tobin Q and measured by Return on Asset. The study adopted ex-post facto research design while the population of the study comprised of all the (10) listed oil and gas firms as at 31 December, 2023. Census sampling was adopted while data was obtained from secondary sources due to the fact that it is a quantitative study based on positivism paradigm. Panel multiple regression was used for the analysis and the study conducted a test of descriptive statistics, correlation matrix as well as some post estimation econometrics test such as, normality test, heteroskedasticity, autocorrelation, and random effect model test. From the regression result, evidence indicates that a low significant positive relationship between environmental, social and governance sustainability reporting and Return on Asset, though the relationship was insignificantly low for social disclosure but a positive relationship with economic sustainability. Based on the above findings the study concluded that sustainability disclosure influences the return on Asset in the Nigeria capital market. The policy implication of the study is that firms that disclose sustainability reporting in their annual reports are likely to attract more investors. Therefore, in line with the conclusion the study recommends amongst others that firms should deliberately increase their disclosure of sustainability performance reporting in order to attract investors to their shares and therefore increase their market value.

• openalex https://doi.org/10.56201/jafm.vol.11.no5.2025.pg144.159first seen 2026-08-15 04:59:13