WASTE ACCOUNTING PRACTICES AND MARKET CAPITALIZATION OF CONSUMER GOODS COMPANIES IN NIGERIA

Global warming caused by greenhouse gas emissions and poor waste management systems has posed serious threats to human lives and ecosystems. This has made investors value companies that are committed to promoting the principles of circular economy, reducing waste generation, and driving resource efficiency. The main objective of this study was to examine the effect of WAPs on the market capitalization of listed consumer goods firms in Nigeria from 2014 to 2023. The research design adopted for the study was ex post facto, secondary data were employed, and a purposive sampling technique was adopted to select 16 out of 21 listed consumer goods firms in Nigeria. Ordinary least square regression analysis was used to analyze the data, and E-views version 10 was used as the statistical package. The findings revealed that carbon and waste recycling disclosures have a significant positive effect on market capitalization, whereas effluent and water disclosures have no significant effect on the market capitalization of listed consumer goods firms in Nigeria. Thus, waste accounting practices have a significant effect on the market value of listed consumer goods firms in Nigeria. Therefore, it was recommended that management of consumer goods firms in Nigeria should implement robust waste management systems and effectively communicate their progress and achievements to stakeholders as this boosts the investors’ confidence, builds a reputation for environmental stewardship, and potentially boosts their market value over the long term