EFFECTS OF SUSTAINABILITY DISCLOSURES ON FIRM PERFORMANCE OF LISTED MANUFACTURING COMPANIES IN NIGERIA

This study examined the effect of sustainability disclosures on the performance of listed manufacturing companies in Nigeria. The study was motivated by the increasing importance of environmental, social, governance, and economic sustainability reporting as a mechanism for enhancing corporate transparency, stakeholder confidence, and long-term value creation. An ex-post facto research design was adopted, data were gotten from the annual reports of 30 selected manufacturing companies out of 50 listed on the Nigerian Exchange Group (NGX) from 2016 to 2025. Sustainability disclosure was measured with Global Reporting Initiative (GRI)-based disclosure index, while firm performance was proxied by Return on Assets (ROA), and Return on Equity (ROE), Firm size, leverage, and firm age were included as control variables. Data were analyzed using descriptive statistics, correlation analysis, and panel regression techniques, supported by diagnostic tests to ensure model robustness. The findings revealed that sustainability disclosure has a positive and statistically significant effect on firm performance (? = 0.060, p < 0.01). Firm size also exerted a positive and significant influence on performance, whereas leverage showed a significant negative effect. Firm age exhibited a positive but insignificant relationship with performance. The study concludes that sustainability disclosure enhances the financial and market performance of the sampled firms. It recommends improved sustainability reporting practices, integration of sustainability into corporate strategy, and strengthened regulatory frameworks to promote transparency, investor confidence, and sustainable corporate growth.

0 23 Jun, 2026

pg: 13

JBMIC PORTAL SYSTEM

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