SUSTAINABLE ECONOMIC PERFORMANCE REPORTING AND MARKET VALUE OF LISTED OIL AND GAS FIRMS IN NIGERIA

DOI: https://doie.org/10.10399/APER.2025386136

Authors:

Philemon Mbakbuin CAPNTAN, Queenta Pedkuna SILIYA, Michael Chidiebele EKWE, Carolina O. M. CUMBANA, Martin Mbanda NGENGE, John Adedeji ABIOLA

Keywords:

Economic Disclosures, Oil and Gas Firm, Sustainability Reporting, Performance

Abstract:

This study examined the impact of disclosing sustainable economic performance on the market value of publicly traded oil and gas companies in Nigeria from 2014 to 2023. The research design employed was ex-post facto, and a purposeful sampling technique was utilized to select seven out of ten firms for analysis. Economic Performance indicators from the GRI (EC1, EC2, EC3, EC4) were used as the independent variable, measured through a scoring index derived from previous studies, while Market Value served as the performance metric. Data from the selected firms were extracted from secondary sources. The analysis involved OLS regression, descriptive analysis, and Pearson correlation using E-Views 09. Results indicated a significant relationship between disclosing economic performance and market value. The findings suggest that sustainable economic performance has a notable impact on the market value of listed oil and gas companies in Nigeria. The study recommended the widespread adoption of the Sustainability Index to incentivize corporations to prioritize their economic footprint and address sustainable development concerns promptly. Enhancing the reporting of sustainability initiatives could enhance the performance of listed Nigerian oil and gas companies, emphasizing the need for increased attention to this aspect.

PDF