Circular Economy Practices Reporting and Financial Performance of Listed Manufacturing Firms in Nigeria
Despite growing global emphasis on circular economy practices, such as recycling, dematerialization, refurbishment, and renewable energy adoption, as strategies for environmental sustainability and long-term competitiveness, the reporting of these practices among listed manufacturing firms in Nigeria remains largely voluntary, inconsistent, and underexplored, leaving investors and other stakeholders uncertain as to whether such disclosures carry any financial value. This study, therefore, examined circular economy practices, reporting, and financial performance. The specific objectives were to investigate whether reporting on recycling, dematerialization, refurbishment, and renewable energy activities has a significant effect on the share price performance of listed manufacturing firms in Nigeria. The secondary source of data collection was adopted in the study, where the purposive sampling technique was used to select a sample size of 46 listed manufacturing firms for the study. Least Squares regression analysis was used in this study, and the findings revealed that reporting on recycling activities, dematerialization activities, refurbishment activities, and renewable energy activities has no significant effect on the share price performance of listed manufacturing firms in Nigeria. The study concluded that as industries grow, competition among organizations increases, and, due to environmental challenges, organizations are adopting circular economy practices to sustain themselves in the market. The study recommended, among others, that firms adopt recycling practices to promote the green economy and further reduce environmental pollution, and that adequate awareness programs be organized to further educate listed firms on the relevance of dematerialization and its economic significance to them. Keywords: Circular economy, dematerialization activities, financial performance, recycling…
Keywords: Circular economy, dematerialization activities, financial performance, recycling activities, refurbishment activities
Citation: Izevbekhai, M.O. & Umukoro, S. (2026). Circular Economy Practices Reporting and Financial Performance of Listed Manufacturing Firms in Nigeria. International Journal of Innovative Research in Accounting and Sustainability, 11(2), 65-77.