Green Innovation and Market Value of Listed Oil and Gas Firms in Nigeria. The Moderating Role of Quality Management System

Abstract

The study examines the moderating role of quality management system on the relationship between green innovation and value of listed oil and gas firms in Nigeria. The study was anchored on the stakeholder’s theory and adopted cross-sectional and longitudinal research designs. Data for the study was obtained using a census sampling of eight oil and gas firms listed on the Nigeria Exchange Group for the years 2015 to 2024. The study employed some descriptive and inferential statistics as data analytical techniques. Findings of the study revealed that green innovation, and quality management system have significant positive impact on market value of listed oil and gas firms in Nigeria, suggesting that expenditure on green technologies and quality management enhances corporate performance. Further, quality management system as a moderator, is also observed to strengthen the positive impact of green innovation on firm value. The study concludes that green innovation significantly influences value of listed oil and gas firms in Nigeria, and recommends that listed oil and gas companies should adopt a profit-oriented approach in quality management and green innovation so as to continue to enjoy customer patronage and improve firm value while meeting quality requirements.

KEYWORDS: Firm Value, Green Innovation, Quality Management, ISO 14001, Environmental Compliance Accounting.

DOI: 10.7176/JESD/17-1-02

Publication date: January 30^th 2026