EMISSION DISCLOSURE AND MARKET VALUE ADDED OF OIL AND GAS FIRMS IN NIGERIA

Abstract

This study assessed the nexus between emission disclosure and the marketvalue added of quoted oil and gas firms in Nigeria for the period of eleven (11) yearsspanning from 2012 - 2022. Carbon Disclosure, Nitrogen Oxides Disclosure, and SulphurOxides Disclosure were used to proxy Environmental Disclosure whereas Market ValueAdded served as the dependent variable. In line with the objectives of the study, threehypotheses were formulated. An ex-post facto research design was employed. Six (6) quotedoil and gas firms constituted the sample size of this study. The secondary data were extractedfrom the annual reports and accounts of the sampled firms and were analysed via E-Views9.0 statistical software and Panel Least Square (PLS) regression analysis. Findings from theempirical analysis revealed that there is a significant relationship between Carbon Disclosure,Nitrogen Oxides Disclosure and Sulphur Oxides Disclosure and Market Value Added ofquoted oil and gas firms in Nigeria at the 5% level of significance. Inter alia, firms shouldtake the issue of emission disclosure seriously to increase the confidence of the public in theiroperations which translates to healthy the performance of the industry, and relevant agenciesin Nigeria should strengthen their monitoring and oversight functions on the compliance levelof firms with environmental frameworks.