Title: Valuation effect of the extent and quality of corporate sustainability disclosure across sectors in Nigeria

Authors: Nwakanma Godwin Nwaigwe

Addresses: Department of Accounting, Faculty of Economics and Management Sciences, Abia State University, Uturu, PMB 2000, Uturu, Nigeria

Abstract: This paper examines the value impact of the extent and quality of CSP disclosure across industries in Nigeria. Results reveal that the value effect of the scope and quality of corporate sustainability performance (CSP) disclosure varies among industries, indicating that the investing public in various industries see this information differently. Some investors see these data favourably and reward reporting entities with higher share prices, while others see superior quality reporting as the rationale for immoderate investment in a costly project, which has an adverse value impact on these industries. Nevertheless, other investors see no value in such information. The value impact also varies among CSP dimensions. The study has implications for managers, the investing public and for policy makers in strengthening policies that promote more socially responsible investment among sectors.

Keywords: sustainability reporting; disclosure extent; reporting quality; value effect; firm value; sustainable development; sustainability dimensions; Nigeria.

DOI: 10.1504/AAJFA.2024.139929

Afro-Asian Journal of Finance and Accounting, 2024 Vol.14 No.4, pp.563 - 580

Received: 27 Jan 2022
Received in revised form: 03 Oct 2022
Accepted: 05 Oct 2022
Published online: 12 Jul 2024 *

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