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The Effect of Sustainability Reporting on Firm Value in Nigeria: Evidence from Listed Consumer Good Firms

Author

Listed:
  • Sadiq Oshoke AKHOR

    (Department of Accounting, Faculty of Arts, Management and Social Sciences, Edo State University, Uzairue, Nigeria)

  • Bgvagi Jayasinghe

    (Department of Accounting, Faculty of Arts, Management and Social Sciences, Edo State University, Uzairue, Nigeria)

Abstract

The study empirically investigated the effect of sustainability reporting on firm value in Nigeria. The study objectives were to examine the effect of economic sustainability reporting, environmental sustainability reporting, and social sustainability reporting on firm value. The population for the study consisted of listed consumer goods companies in the Nigerian Stock Group (NGX). The studied population had the responsibility to publish their financial statements for six (6) consecutive years from 2016 to 2021. Secondary data used for the study was collected from a sample of sixteen (16) listed consumer goods companies. Robust regression technique was used to test the formulated hypotheses. The regression results revealed that economic sustainability reporting had a positive and significant effect on firm value at a 1% level of significance, environmental sustainability reporting had a positive and significant effect on firm value at a 1% level of significance and social sustainability reporting had a negative and significant effect on firm value. The study recommended that the management of Nigerian listed consumer goods companies should focus more on sustainability reporting in terms of economic reporting and environmental reporting to increase the value of the firm.

Suggested Citation

  • Sadiq Oshoke AKHOR & Bgvagi Jayasinghe, 2023. "The Effect of Sustainability Reporting on Firm Value in Nigeria: Evidence from Listed Consumer Good Firms," International Journal of Research and Scientific Innovation, International Journal of Research and Scientific Innovation (IJRSI), vol. 10(7), pages 220-231, July.
    • Handle: RePEc:bjc:journl:v:10:y:2023:i:7:p:220-231
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    References listed on IDEAS

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    1. ABOSEDE, A. J. & OSENI, Jimoh Ezekiel, 2011. "Theoretical Analysis Of Firm And Market-Specific Proxies Of Information Asymmetry On Equity Prices In The Stock Markets," Journal of Knowledge Management, Economics and Information Technology, ScientificPapers.org, vol. 1(4), pages 1-10, June.
    2. Beck, A. Cornelia & Campbell, David & Shrives, Philip J., 2010. "Content analysis in environmental reporting research: Enrichment and rehearsal of the method in a British–German context," The British Accounting Review, Elsevier, vol. 42(3), pages 207-222.
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