Integrated Environmental–Economic Accounting (IEEA) Disclosures on Firm Value

Margaret S. Eka

doi:10.56201/ijefm.v11.no1.2026.pg93.106

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Integrated Environmental–Economic Accounting (IEEA) Disclosures on Firm Value

Margaret S. Eka

Abstract

This study examined the effect of Integrated Environmental–Economic Accounting disclosures on the firm value, measured by Tobin’s Q, of publicly traded oil and gas companies in Nigeria. The research was motivated by increasing regulatory and stakeholder demands for sustainability disclosures within the IFRS sustainability reporting framework, particularly in environmentally sensitive industries. A retrospective study design was utilised, employing panel data obtained from the annual reports of five publicly traded oil and gas companies in Nigeria over a five-year period (2020–2024). Environmental disclosure variables were measured by content analysis, awarding numerical scores to remediation disclosure, environmental liability disclosure, community participation disclosure, and environmental accounting disclosure, while incorporating firm size as a control variable. Descriptive statistics indicated moderate to high levels of disclosure for remediation and community participation, with mean scores of 3.84 and 3.67, respectively, whereas environmental liability and environmental accounting disclosures exhibited lower mean values of 2.91 and 2.76. Tobin's Q averaged 1.18, signifying a moderate market valuation across the examined firms. Panel regression analysis, conducted via a fixed-effects model, indicated that remediation disclosure (? = 0.214, p < 0.05) and community engagement disclosure (? = 0.193, p < 0.05) had a positive and statistically significant impact on Tobin’s Q. Environmental liability disclosure (? = 0.087, p > 0.05) and environmental accounting disclosure (? = 0.064, p > 0.05) shown beneficial albeit statistically negligible impacts. Firm size exhibited a substantial positive effect on Tobin’s Q (? = 0.276, p < 0.01). The model accounted for almost 68% of the variability in firm valuation (Adjusted R2 = 0.68). The research determined that focused sustainability disclosures, especially those related to remediation and community participation, substan

Keywords

Integrated Environmental–Economic AccountingSustainability DisclosureTobin’s QOil and Gas CompaniesNigeriaIFRS Sustainability Reporting.

References

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Integrated Environmental–Economic Accounting (IEEA) Disclosures on Firm Value

Abstract

Keywords

References

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