What question did this study set out to answer?

The study examines the relationship between sustainability reporting and financial performance in Nigeria’s non-financial firms.

April 13, 2026Open Access

Beyond Compliance: Do ESG Disclosures Drive Financial Value in Ngeria's Non-Financial Firms?"

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Authors

AAAYOOLA Rokibat AboloreFederal College of Education, Kano ADAIKOMO Abiodun DanielFederal College of Education, Kano

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Implication

Investigates the impact of sustainability reporting on financial performance in Nigeria's non-financial firms, suggesting compliance-driven practices persist.

Key Points

The study examines the relationship between sustainability reporting and financial performance in Nigeria’s non-financial firms.
Ex-post facto research design used to analyze data from 76 listed non-financial firms.
Financial performance measured by Return on Capital Employed (ROCE) and Profit After Tax Margin (PATM).
Sustainability performance captured using a disclosure index for environmental, social, and governance dimensions.
Panel regression techniques, including fixed-effects and random-effects models, were utilized.
Environmental and governance disclosures showed no statistically significant impact on ROCE or PATM.
Social disclosure had a significant negative effect on PATM, indicating short-term profitability costs.
Overall, sustainability reporting remains largely symbolic and compliance-oriented in Nigeria.

Cite This Study

Abolore et al. (2026) studied this question.

synapsesocial.com/papers/69dc89183afacbeac03eac7e https://doi.org/10.5281/zenodo.19509857

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Implication

Investigates the impact of sustainability reporting on financial performance in Nigeria's non-financial firms, suggesting compliance-driven practices persist.

Beyond Compliance: Do ESG Disclosures Drive Financial Value in Ngeria's Non-Financial Firms?"

Discussion

Member takes

Implication

Key Points

Cite This Study

Beyond Compliance: Do ESG Disclosures Drive Financial Value in Ngeria's Non-Financial Firms?"

Discussion

Member takes

Implication

Key Points

Cite This Study

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