Sustainability Reporting and Corporate Value: Evidence from Quoted Manufacturing Companies in Nigeria

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Auteurs principaux: Kehinde, Fasua Henry, Abrahams, Fasua Omolade
Format: Recurso digital
Publié: Zenodo 2025
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author Kehinde, Fasua Henry
Abrahams, Fasua Omolade
author_facet Kehinde, Fasua Henry
Abrahams, Fasua Omolade
contents <p><em><span>This study assesses the impact of sustainability reporting on corporate value among Nigerian manufacturing firms between 2019 and 2023. An ex-post facto research design was applied using data from 40 purposively selected companies listed on the Nigerian Exchange Group (NGX). Sustainability practices were measured through environmental (ERI), social (SRI), and economic (ECRI) disclosure indices based on the Global Reporting Initiative (GRI) framework. Tobin’s Q was used as the proxy for corporate value, with firm size and financial leverage as control variables. Descriptive statistics, correlation analysis, and panel regression were employed. The results indicate that environmental, social and economic disclosures significantly improve the corporate value of quoted manufacturing firms in Nigeria. The study concludes that sustainability reporting enhances market valuation in Nigeria’s manufacturing sector, particularly through environmental, social and economic dimensions. It recommends stronger regulatory enforcement and standardized reporting frameworks to boost transparency, investor confidence, and competitiveness.</span></em></p>
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spellingShingle Sustainability Reporting and Corporate Value: Evidence from Quoted Manufacturing Companies in Nigeria
Kehinde, Fasua Henry
Abrahams, Fasua Omolade
Sustainability Reporting, Environmental Disclosure, Social Reporting, Economic Disclosure
<p><em><span>This study assesses the impact of sustainability reporting on corporate value among Nigerian manufacturing firms between 2019 and 2023. An ex-post facto research design was applied using data from 40 purposively selected companies listed on the Nigerian Exchange Group (NGX). Sustainability practices were measured through environmental (ERI), social (SRI), and economic (ECRI) disclosure indices based on the Global Reporting Initiative (GRI) framework. Tobin’s Q was used as the proxy for corporate value, with firm size and financial leverage as control variables. Descriptive statistics, correlation analysis, and panel regression were employed. The results indicate that environmental, social and economic disclosures significantly improve the corporate value of quoted manufacturing firms in Nigeria. The study concludes that sustainability reporting enhances market valuation in Nigeria’s manufacturing sector, particularly through environmental, social and economic dimensions. It recommends stronger regulatory enforcement and standardized reporting frameworks to boost transparency, investor confidence, and competitiveness.</span></em></p>
title Sustainability Reporting and Corporate Value: Evidence from Quoted Manufacturing Companies in Nigeria
topic Sustainability Reporting, Environmental Disclosure, Social Reporting, Economic Disclosure
url https://doi.org/10.5281/zenodo.18155898