Climate Risk Governance and Firm Performance of Listed Nigerian Firms
Fuente:
Zenodo
Enregistré dans:
| Auteur principal: | |
|---|---|
| Format: | Recurso digital |
| Publié: |
Zenodo
2026
|
| Sujets: | |
| Accès en ligne: | |
| Tags: |
Ajouter un tag
Pas de tags, Soyez le premier à ajouter un tag!
|
| _version_ | 1866901222413303808 |
|---|---|
| author | YAHAYA, ONIPE ADABENEGE |
| author_facet | YAHAYA, ONIPE ADABENEGE |
| contents | <p><span lang="en-NG">Climate risk has emerged as a defining challenge for corporate governance in developing economies, yet the relationship between climate risk governance mechanisms and firm performance remains underexplored in the Nigerian context. This study investigates the impact of climate risk governance on the financial performance of 151 firms listed on the Nigerian Exchange Group (NGX) over the period 2010–2024. Employing an ex post facto research design and panel regression analysis—incorporating fixed effects and random effects estimations—the study examines how climate risk disclosure, board-level climate oversight committees, climate risk integration into enterprise risk management, and climate-related executive compensation incentives influence firm performance, measured by return on assets (ROA) and Tobin's Q. The study controls for firm size, firm age, board size, board independence, industry type, financial leverage, and ownership structure. Findings reveal that climate risk disclosure and board-level climate oversight are positively and significantly associated with both accounting-based and market-based measures of performance. Climate risk integration into enterprise risk management demonstrates a significant positive relationship with ROA but a weaker association with Tobin's Q, suggesting that internal governance mechanisms take time to translate into market valuations. Climate-related executive compensation incentives show a positive but statistically insignificant effect, indicating nascent adoption among Nigerian listed firms. Post-estimation diagnostics—including the Hausman test, Breusch-Pagan Lagrange Multiplier test, variance inflation factor analysis, and the Wooldridge test for serial correlation—confirm the robustness of the results. The study contributes to the literature by providing among the first comprehensive empirical evidence on climate risk governance and firm performance in Sub-Saharan Africa, offering practical implications for regulators, boards of directors, and institutional investors seeking to align corporate governance with climate resilience imperatives</span></p> |
| format | Recurso digital |
| id | zenodo_https___doi_org_10_5281_zenodo_19064530 |
| institution | Zenodo |
| language | |
| publishDate | 2026 |
| publisher | Zenodo |
| record_format | zenodo |
| spellingShingle | Climate Risk Governance and Firm Performance of Listed Nigerian Firms YAHAYA, ONIPE ADABENEGE Climate Risk Governance Firm Performance Panel Data Panel regression <p><span lang="en-NG">Climate risk has emerged as a defining challenge for corporate governance in developing economies, yet the relationship between climate risk governance mechanisms and firm performance remains underexplored in the Nigerian context. This study investigates the impact of climate risk governance on the financial performance of 151 firms listed on the Nigerian Exchange Group (NGX) over the period 2010–2024. Employing an ex post facto research design and panel regression analysis—incorporating fixed effects and random effects estimations—the study examines how climate risk disclosure, board-level climate oversight committees, climate risk integration into enterprise risk management, and climate-related executive compensation incentives influence firm performance, measured by return on assets (ROA) and Tobin's Q. The study controls for firm size, firm age, board size, board independence, industry type, financial leverage, and ownership structure. Findings reveal that climate risk disclosure and board-level climate oversight are positively and significantly associated with both accounting-based and market-based measures of performance. Climate risk integration into enterprise risk management demonstrates a significant positive relationship with ROA but a weaker association with Tobin's Q, suggesting that internal governance mechanisms take time to translate into market valuations. Climate-related executive compensation incentives show a positive but statistically insignificant effect, indicating nascent adoption among Nigerian listed firms. Post-estimation diagnostics—including the Hausman test, Breusch-Pagan Lagrange Multiplier test, variance inflation factor analysis, and the Wooldridge test for serial correlation—confirm the robustness of the results. The study contributes to the literature by providing among the first comprehensive empirical evidence on climate risk governance and firm performance in Sub-Saharan Africa, offering practical implications for regulators, boards of directors, and institutional investors seeking to align corporate governance with climate resilience imperatives</span></p> |
| title | Climate Risk Governance and Firm Performance of Listed Nigerian Firms |
| topic | Climate Risk Governance Firm Performance Panel Data Panel regression |
| url | https://doi.org/10.5281/zenodo.19064530 |