ESG DISCLOSURE AND FIRMS VALUE OF LISTED CONSUMER GOODS IN NIGERIA

Authors

  • Raymond A. Ezejiofor Author
  • Mfreke-Obong Samuel Ufot Author

Keywords:

Environmental disclosure, Firm value, Governance disclosure, Social disclosure

Abstract

Broadly, the study examined the effect of ESG disclosure on firm value of listed consumer goods firms. The specific objectives were to ascertain the effect of Environmental disclosure on firm value of listed consumer goods firms; determine the effect of Social disclosure on firm value of listed consumer goods manufacturing firms, and evaluate the effect of gover­nance disclosure on firm value of listed consumer goods firms.This study adopted the ex-post facto research design. A sampled of eighteen (18) out of the population of twenty one (21) consumer goods manufacturing firms due to unavailability of some firm’s data. The data will be extracted from the annual reports and accounts of the sampled firms in Nigeria from 2012 to 2023. Data will be analyzed with descriptive statistics, and the hypotheses will be tested with Pearson correlation, and multiple regression analysis to arrive at final conclusion. Based on the analysis, the study found that those environmental practices had a negative effect but was statistically significant on firm value of consumer goods in Nigeria. The result revealed that the social practice had a positive and also statistically significant on firm value of consumer goods in Nigeria, and the result also indicated that governance practices disclosure had a negative but was statistically significant on firm value of consumer goods in Nigeria.  Based on the outcome of the study, the study recommended among others that environmental disclosure shows negative significant for Nigerian firms. Nigerian government agencies should improve on the Environmental performance evaluation system.

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Published

2025-06-28

Issue

Vol. 2 No. 2 (2025): April

Section

Articles

License

Copyright (c) 2025 International Review of Financial Studies

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