Environmental and Social Information Disclosure Quality and Market Value of Non-Financial Listed Companies in Nigeria
The intense global market competition and the stakeholders growing demand for transparency and accountability drive the increasing disclosure of environmental and social information among non-financial listed companies in Nigeria. However, environmental and social information disclosure among non-financial listed companies in Nigeria today lack qualitative attributes and credibility capable of enhancing ability of investors to make informed investment decision that promote firm long-term value. In view of the forgoing, this study examines environmental and social information disclosure quality of non-financial listed companies in Nigeria based on GRI, G3 qualitative framework and assess the impact on company market value captured through market share price. The study relied on ex-post facto research design and data were generated from 47 sample companies selected based on their continuous listing in the NGX (2022) and availability of sustainability data in their annual reports during the study period. Panel regression analysis based on random effect estimation revealed significant positive impacts of environmental and social information disclosure quality on company market value reflected in MSP. The result thus suggests that environmental and social information disclosure of non-financial listed companies in Nigeria are comprehensively detailed, accurately disclosed and timely reported reflecting credibility that influence investment choice and decision which positively promote long-term value of the studied companies. The study concluded that disclosure of quality and credible sustainability information that is free of ambiguities usually enhances ability of investors to make investment choices that positively impact company market value. This study recommended that nonfinancial listed companies in Nigeria should strategically…
Keywords: GRI, G3 Sustainability Quality Framework, GRI, G3 Core Performance Indicator, Market Share Price (MSP), Non-Financial Listed Companies in Nigeria (NFLCN)
Citation: Abdulsalam, S.T., Oyewumi, H.K., Bolaji, 3.A., Afolabi, 4.O. & Subair, 5.L. (2026). Environmental and Social Information Disclosure Quality and Market Value of Non-Financial Listed Companies in Nigeria. International Journal of Innovative Research in Accounting and Sustainability, 11(2), 116-131.