INTEGRATED REPORTING AND FIRM VALUE OF LISTED MANUFACTURING FIRM IN NIGERIA

ACCOUNTING

Integrated reporting has become increasingly important in corporate reporting, aiming to provide stakeholders with a comprehensive understanding of a company's value creation process. However, the impact of integrated reporting and various forms of capital on firm value in the context of manufacturing firms in Nigeria remains underexplored. This study aims to fill this gap by examining the relationship between integrated reporting (proxying intellectual, human, manufacturing, and social/relationship capital) and firm value among manufacturing firms listed on the Nigerian Stock Exchange. The population of interest includes manufacturing firms listed on the Nigerian Stock Exchange. A sample of 59 manufacturing companies was selected based on specific criteria, including complete annual reports and accounts for the period from 2011 to 2022. The elimination sampling technique was used to select 8 companies for analysis. Data were collected from annual reports and accounts covering the period from 2011 to 2022. Variables included firm value (measured by Tobin's Q), intellectual capital, human capital, manufacturing capital, social and relationship capital, and leverage. The study employed multiple regression analysis to examine the relationship between integrated reporting variables and firm value. Findings indicate that manufacturing capital and leverage significantly influence firm value, while intellectual capital, human capital, and social/relationship capital do not show statistically significant correlations. In conclusion, the study underscores the importance of manufacturing capital and financial leverage in enhancing firm value among manufacturing firms in Nigeria. Recommendations include focusing on strengthening social and relationship capital and optimizing financial leverage within reasonable bounds to potentially increase firm value.

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