Research Objective: This study investigates the relationship between corporate environmental performance and enterprise value in Nigeria, focusing on three key environmental metrics: Resource Use Score, Emissions Score, and Innovation Score.
Methodology: Data were collected from corporate publications, including annual and independent sustainability reports. The study employed content analysis to extract relevant data, followed by descriptive statistics and panel regression analysis to estimate the model and test the hypotheses. The Hausman test was used to determine whether a fixed-effects or random-effects model was more appropriate.
Findings: The results show that overall corporate environmental performance significantly impacts enterprise value in Nigeria. Specifically, the Resource Use Score has a statistically significant positive relationship with enterprise value. However, no statistically significant relationships were found between Emissions Score and Innovation Score and enterprise value.
Conclusion: The study suggests that integrating environmental sustainability practices, particularly in resource use, into corporate strategies can enhance enterprise value. It recommends that companies in Nigeria should prioritize environmental sustainability to boost long-term business performance.
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