Effect of Green Accounting on Firm Value of Listed Industrial Goods Firms in Nigeria

Samuel Ikechukwu Nweze, Joseph O. Elom and Uche Christopher Chukwu
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Samuel Ikechukwu Nweze: Department of Accountancy, Ebonyi State University, Abakaliki, Ebonyi State, Nigeria.
Joseph O. Elom: Department of Accountancy, Ebonyi State University, Abakaliki, Ebonyi State, Nigeria.
Uche Christopher Chukwu: Department of Accountancy, Ebonyi State University, Abakaliki, Ebonyi State, Nigeria.

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Abstract: The study examined the effect of green accounting on firm value of listed industrial goods firms in Nigeria. The specific objective was to ascertain the effect of waste management disclosure, pollution control disclosure and emission control disclosure on firm value of listed industrial goods firms in Nigeria. The study deployed the ex-post facto research design. A sample size of nine listed industrial goods firms was selected from the population of thirteen listed industrial goods firms in Nigeria. Secondary data were sourced from the annual reports of the firms over a ten-year period (2015-2024). Descriptive analysis was carried out together with Hausman specification test. The hypotheses were tested using Fixed Effect Model, which revealed that: waste management disclosure has a positive and significant effect on firm value of listed industrial goods firms in Nigeria (β = 2.169058; p = 0.0062); pollution control disclosure has a positive but not significant effect on firm value of listed industrial goods firms in Nigeria (β = 0.730396; p = 0.4339); emission control disclosure has a negative and significant effect on firm value of listed industrial goods firms in Nigeria (β = -2.829106; p = 0.0000). By implication, stakeholders, including capital market participants, interpret environmental disclosures in different ways—rewarding transparency in waste management practices with enhanced firm value, while reacting less favorably or even negatively to certain disclosures such as those related to emissions. The study recommends that board directors should institutionalize structured waste management disclosure frameworks to ensure transparent and consistent reporting of waste reduction, recycling, and disposal activities.

Date: 2026-03-07
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Published in Journal of Economics and Trade, 2026, 11 (1), pp.225-241

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-05542706

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