Sustainability reporting and value creation among listed non-financial companies in Nigeria: Does board gender diversity matters?

Abstract

This study investigates the moderating role of board gender diversity on the relationship between sustainability reporting, and value creation in Nigerian non-financial firms between 2018 to 2022. Using longitudinal data from 73 firms listed on the Nigeria Exchange Group, the research employs panel dynamic regression analysis. Findings indicate that robust sustainability reporting positively impacts value creation among non-financial firms in Nigeria. Moreover, board gender diversity enhances this relationship, suggesting that companies with diverse boards effectively integrate sustainability into their strategic agenda, thereby strengthening corporate resilience. Based on the conclusion the study recommends that the supervisory authority such as financial reporting council of Nigeria (FRCN) should update corporate governance codes to explicitly include mandatory requirements for sustainability reporting and gender diversity. These updates will reinforce the importance of gender diversity and sustainability in corporate governance, contributing to improved financial performance and value creation within the Nigerian non-financial sector.