Environmental, Social, and Governance Reporting Evidencing Firm Performance in Emerging Economy
環境・社会・ガバナンス報告が新興経済における企業業績を証明する (AI 翻訳)
A. M., Tiamiyu, R. A., Tiamiyu
🤖 gxceed AI 要約
日本語
本研究はナイジェリアの上場製造企業を対象に、ESG報告が企業業績に与える影響を2013年から2022年まで分析。3SLS推定の結果、ESG開示はTobin's Qを低下させる一方、ROAを向上させることを示した。
English
This study examines the influence of ESG reporting on firm performance of listed manufacturing firms in Nigeria from 2013-2022. Using 3SLS, it finds ESG disclosure reduces Tobin's Q but improves ROA, highlighting trade-offs.
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
ナイジェリア事例であり、日本のGX文脈には直接関係しないが、ESG開示と業績のトレードオフは日本企業にも示唆を与える。
In the global GX context
While focused on an emerging economy, the study provides evidence of mixed performance effects of ESG disclosure, relevant to global debates on mandatory reporting.
👥 読者別の含意
🔬研究者:Offers empirical evidence on ESG-firm performance link in an emerging market context.
🏢実務担当者:Highlights potential trade-offs between ESG disclosure and market valuation vs. profitability.
🏛政策担当者:Informs regulators about the mixed impact of ESG reporting in developing economies.
📄 Abstract（原文）
Companies are owned by an array of stakeholders with varying interests due to separation of ownership from control Investors are skeptical about the reliability of the annual report. The continuing demand for transparency led to the adoption of Environmental, Social and Governance (ESG) reporting to communicate firms’ sustainability efforts with a view to restoring stakeholders’ confidence. This study examined the influence of ESG reporting on the performance of listed manufacturing firms in Nigeria for the period 2013-2022 and employed trade-off theory for theoretical support. The 3 Stage Least Squares (3SLS) results showed that on the aggregate, the coefficient of the ESG index on Tobin's Q is -5.748, with a p-value of 0.000, indicating that ESG disclosure leads to a reduction in firm value. The coefficient of the ESG index on ROA is 71.265, with a p-value of 0.000, suggesting improvement in profitability. It was recommended that managers should be decisive on the motivations for engaging in ESG initiatives.
🔗 Provenance — このレコードを発見したソース
- openaire https://doi.org/10.52589/ajafr-kgglcicufirst seen 2026-05-14 22:14:32
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