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The Impact of Eco-Sustainability Reporting in Financial Statements on the Market Value of Companies in Ivory Coast

Author

Listed:
  • Adouko Kouah Adjobi Romuald Paulin

    (School of Economics and Management, Anhui University of Science and Technology, Huainan, China)

  • Wang Jianmin

    (School of Economics and Management, Anhui University of Science and Technology, Huainan, China)

  • Teye Jonathan

    (School of Economics and Management, Anhui University of Science and Technology, Huainan, China)

Abstract

Environmental issues have become a prominent theme in recent decades in accounting literature. Growing public concern regarding companies’ financial and non-financial performance, particularly related to industrial activities, has led to increased demand for the disclosure and analysis of ecological reports, especially in developed nations. However, there is a lack of research in developing countries, particularly Africa and the Ivory Coast. Thus, this paper seeks to explore the potential impact of eco-sustainability disclosure in financial reports on market value and its effects on the financial and non-financial performance of SMEs in Ivory Coast, considering company characteristics such as size, age, and losses. This study utilizes data from firms listed on the Ivory Coast Stock Exchange. The hypothesis regarding the effects of eco-sustainability disclosure in financial reports on the market value of company attributes was tested with a selection of 35 joint-stock companies from 2011 to 2022. Several conclusions were drawn from this research. It was identified that eco-sustainability disclosures in financial reports influence companies’ financial and non-financial performance. Additionally, these disclosures affect a company’s market value, particularly as indicated by its quality descriptors, including age and losses. However, the study found that eco-sustainability disclosure in financial reports did not influence market value when evaluated against the characteristic of company size.

Suggested Citation

  • Adouko Kouah Adjobi Romuald Paulin & Wang Jianmin & Teye Jonathan, 2025. "The Impact of Eco-Sustainability Reporting in Financial Statements on the Market Value of Companies in Ivory Coast," International Journal of Research and Innovation in Social Science, International Journal of Research and Innovation in Social Science (IJRISS), vol. 9(5), pages 6086-6101, May.
    • Handle: RePEc:bcp:journl:v:9:y:2025:issue-5:p:6086-6101
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    References listed on IDEAS

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    1. Abdulaziz Mohammed Alsahlawi & Kaouther Chebbi & Mohammed Abdullah Ammer, 2021. "The Impact of Environmental Sustainability Disclosure on Stock Return of Saudi Listed Firms: The Moderating Role of Financial Constraints," IJFS, MDPI, vol. 9(1), pages 1-17, January.
    2. Woo Sung Kim & Kunsu Park & Sang Hoon Lee, 2018. "Corporate Social Responsibility, Ownership Structure, and Firm Value: Evidence from Korea," Sustainability, MDPI, vol. 10(7), pages 1-20, July.
    3. repec:eme:ijlma0:ijlma-11-2015-0057 is not listed on IDEAS
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