Sustainability Reporting and Firm Value of Listed Consumer Goods Firms in Nigeria
This study examined the effect of an efficient sustainability reporting on the firm value of listed consumers goods firms in Nigeria. The study used ex-post research design with a purposive sampling technique to collect secondary data. The study sampled 10 companies between 2014 - 2023 from the population of all the 20 listed consumer goods firms as of 31 December 2023. The study also employed content analysis to gather data on sustainability disclosure checklist. Descriptive statistics and Inferential statistics (multivariate linear regression) were applied for this study. The findings of the study show that economic disclosures have a positive but not significant effect on MSP and PBV of firms and a negatively significant effect on TQ. Environmental disclosures have a positive and significant impact on MSP and PBV, but a positive impact not significant on TQ. Social disclosures have no significant impact on all the proxies of firm value. However, the impact is positive on TQ and negative on MSP and PBV. Also, governance reporting negatively impacted TQ significantly, but the impact on MSP and PBV is negative, not significant. The study concludes that sustainability reporting has a significant effect on firm value and recommends that management should be committed to sustainability reporting to enhance their firm value in real terms that are identifiable. Keywords: Firm value, sustainability reporting, economic disclosures, environmental sustainability reporting, social sustainability reporting and governance sustainability reporting.
Keywords: Firm value, ISSB sustainability, market share price, price-to-book value, sustainability reporting, and Tobin’s Q.
Citation: Ajayi-owoeye, A.O., Jemutu, A.S., & Olukunle, A.A. (2025). Sustainability Reporting and Firm Value of Listed Consumer Goods Firms in Nigeria. International Journal of Innovative Research in Accounting and Sustainability, 10(4), 30-42.