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ABSTRACT
The conventional objective of companies is to maximize shareholders' wealth. Be that as it may, to realize this objective, numerous complementary objectives must be pursued alongside the conventional ones. To realize corporate objectives, businesses are required to associate with the environment. The continuous interaction of the enterprise with the environment has unquestionably come with its costs and benefits, and the global fascination with evolving feasible advancement has made corporate ESG disclosures a vital issue. The point of this research is to examine the relationship between ESG disclosure and firm performance among recorded fabricating firms in Nigeria. The information was collected from integrated yearly reports and stand-alone sustainability reports of companies listed in Nigeria. The Panel-corrected standard
Error and the Generalized Least Square regression investigation utilized a 250 firm-year observations and the results shows that environmental, social, and governance disclosures influence market performance measured by Tobin's Q, whereas governance disclosures shows a positive impact on Tobin’s Q, social and environmental have negative impacts on Tobin’s Q. The research too illustrated that social and environmental disclosures don't influence the financial and operational performance of firms measured by ROE and ROA, individually, and at last, it was found that governance disclosure positively influences ROA and ROE. This research suggests incorporating ESG into legal requirements and teaching stakeholders, particularly shareholders and investors on the importance of ESG disclosure.
