DO ESG DISCLOSURES CONSTRAIN EARNINGS MANAGEMENT IN NIGERIA?
ESG開示はナイジェリアにおける利益管理を抑制するか？ (AI 翻訳)
Yahaya, Onipe Adabenege
🤖 gxceed AI 要約
日本語
本研究は2015年から2024年のナイジェリア上場企業152社を対象に、ESG開示の質が利益調整を抑制するかを分析。代理理論と正当性理論に基づき、修正ジョーンズモデルで裁量的発生高を測定、GMM推定により内生性を処理した結果、ESG開示と利益管理に有意な負の関係を確認。特にガバナンスが弱い企業や非Big4監査の企業で効果が顕著。
English
This study examines ESG disclosure and earnings management for 152 listed Nigerian firms from 2015-2024. Using the Modified Jones Model and GMM estimation, it finds a significant negative relationship, especially for firms with weak governance or non-Big 4 auditors, suggesting ESG disclosure constrains earnings management.
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
この研究はナイジェリアを対象としているが、日本企業のESG開示が財務報告品質に与える影響を示唆する点で参考になる。日本のSSBJ基準や有報でのESG情報拡充にも示唆を提供する。
In the global GX context
This paper provides empirical evidence from an African emerging market that ESG disclosures constrain earnings management, supporting the monitoring role of ESG reporting. It contributes to the global literature on disclosure infrastructure and corporate governance, relevant for ISSB and SEC climate disclosure debates.
👥 読者別の含意
🔬研究者:Researchers studying ESG disclosures and earnings management can use this emerging market evidence for comparative studies.
🏢実務担当者:Corporate sustainability teams can cite this study to justify enhanced ESG reporting as a governance tool.
🏛政策担当者:Nigerian regulators may use these findings to push for mandatory ESG disclosure rules; other regulators can note the monitoring effect.
📄 Abstract（原文）
This study examines the relationship between Environmental, Social, and Governance (ESG) disclosures and earnings management among 152 publicly listed firms in Nigeria from 2015 to 2024. Drawing on agency theory and legitimacy theory, we hypothesize that enhanced ESG transparency constrains managerial opportunism in financial reporting. Using the Modified Jones Model to measure discretionary accruals and content analysis to construct an ESG disclosure index, we employ two-stage system Generalized Method of Moments (GMM) estimation to address endogeneity concerns. Our findings reveal a significant negative relationship between ESG disclosure quality and earnings management (β = -0.183, p < 0.01), suggesting that firms with comprehensive ESG reporting exhibit lower levels of discretionary accruals. This relationship is more pronounced among firms with weaker governance structures and non-Big 4 auditors. The results remain robust to alternative earnings management proxies, including performance-matched discretionary accruals and real earnings management measures. Our study contributes to the nascent literature on sustainability reporting in emerging African markets and provides empirical evidence that ESG disclosures serve as an external monitoring mechanism that enhances financial reporting quality. The findings have important implications for Nigerian regulators, particularly the Securities and Exchange Commission (SEC) and Financial Reporting Council of Nigeria (FRCN), regarding mandatory ESG disclosure requirements.
🔗 Provenance — このレコードを発見したソース
- openaire https://doi.org/10.5281/zenodo.18360980first seen 2026-05-14 22:04:58
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