IMPACT OF CORPORATE SUSTAINABILITY DISCLOSURE ON FIRM VALUE OF LISTED NON-FINANCIAL COMPANIES IN NIGERIA

Abstract

This study examined the impact of corporate sustainability disclosure on firm value of listed nonfinancial companies in Nigeria. In addition to evaluating the effect of board gender diversity on
these linkages, the study looks at how environmental, economic, social, and governance reporting
affects business value. Data was acquired through a quantitative approach, including secondary
data from annual reports and sustainability declarations of listed corporations for the period of
2014-2023. The population of the study covered 105 companies from 10 different sectors. The
analysis applied regression techniques to analyze the correlations among the variables. The
results show that improved stakeholder trust and corporate reputation are associated with social
reporting, whereas increased corporate transparency is a result of governance reporting, which
is especially impacted by the gender diversity of the board. According to the report, companies
that disclose more about sustainability also have lower capital costs since investors are more
confident. Additionally, it reveals that businesses that exhibit sound governance processes have a
higher chance of drawing in long-term investments. Additionally, companies with diverse boards
typically employ more thorough sustainability plans, which improve their financial results. By
emphasizing the vital role that gender diversity plays in corporate governance as a facilitator of
successful sustainability practices, this study adds to the body of knowledge. To improve
sustainability results, it also recommends future study directions that examine the wider effects of
gender diversity across a range of industries and support laws that encourage fair representation
in corporate leadership.