Ethical Entrepreneurship and Sustainable Development Goals (SDGS): Evidence from Nigerian Entrepreneurial Ecosystems
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Date
2026-09-09
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. Electronic Journal of Business and Management (EJBM), Asia Pacific University of Technology & Innovation (APU), Malaysia
Abstract
Ethical entrepreneurship has become an important lever for fostering sustainable
development because it combines economic, social, and environmental responsibilities in
business operations. Despite flourishing entrepreneurial ecosystems in Nigeria, there is
limited empirical evidence on how these ecosystems foster ethical entrepreneurial actions
that contribute to the Sustainable Development Goals (SDGs). This study investigated the
impact of ethical entrepreneurship on SDG achievement in Nigerian entrepreneurial
ecosystems, focusing on business integrity, fairness in business transactions, moral standards,
and legal standards. Grounded in Stakeholder Theory and Sustainable Entrepreneurship
Theory, the study employed a quantitative cross-sectional survey design. Data were collected
through a structured questionnaire from 284 owners and managers of Agro-Allied small and
medium-sized enterprises (SMEs) in Kwara State, Nigeria, selected through a multistage
sampling procedure. The data were analysed using Partial Least Squares Structural Equation
Modelling (PLS-SEM) in SmartPLS 4. The results indicated that business integrity (β =
0.220, p < 0.001), fairness in business transactions (β = 0.281, p < 0.001), and moral
standards (β = 0.424, p < 0.001) had significant positive effects on SDG achievement,
whereas legal standards had a positive but statistically insignificant effect (β = 0.010, p =
0.867). The model explained 75.7% of the variance in sustainable development outcomes
(R² = 0.757), indicating strong explanatory power. The study concludes that voluntary
ethical principles, particularly moral standards, fairness, and business integrity, are more
influential in promoting sustainable development than legal adherence alone. It recommends
that entrepreneurs, policymakers, and entrepreneurship support institutions strengthen
ethical leadership, stakeholder fairness, and integrity-based business practices to accelerate
SDG achievement within Nigerian entrepreneurial ecosystems.
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Adebayo, A. A. (2026). Ethical Entrepreneurship and Sustainable Development Goals (SDGS): Evidence from Nigerian Entrepreneurial Ecosystems. Electronic Journal of Business and Management (EJBM), Asia Pacific University of Technology & Innovation (APU), Malaysia, 11(3), 1-22