A Study on the Pathways to Enhancing Corporate Value through Carbon Information Disclosure
Journal: Modern Economics & Management Forum DOI: 10.32629/memf.v5i1.1609
Abstract
The low-carbon economy is the current global trend in economic development, and corporate carbon information disclosure is gradually attracting widespread attention in society. By reviewing relevant literature, this study explores the value effects and influencing factors of carbon information disclosure, revealing a significant correlation between carbon information disclosure and corporate value. Comprehensive disclosure is found to contribute significantly to enhancing corporate value. The paper further analyzes the theoretical motivations behind corporate carbon information disclosure and outlines the pathways through which carbon information disclosure enhances corporate value. Corporate disclosure of carbon information is shown to help alleviate the asymmetric information problems faced by investors and managers, enhance environmental performance, and promote green innovation within the enterprise. In conclusion, the above study provides valuable insights for the improvement of carbon information disclosure and the use of carbon information disclosure tools to enhance corporate value.
Keywords
carbon information disclosure, corporate value, corporate performance
Full Text
PDF - Viewed/Downloaded: 0 TimesIndexation
Download Index RecordReferences
References
[1]Zeng, Y., et al., A review on scientific connotation, realization path and challenges of peak carbon dioxide emissions and carbon neutrality strategies. Modern Chemical Industry, 2022. 42(10): p. 1-4,10.
[2]Yuan, X., et al., Policy analysis and countermeasures for achieving carbon peak and carbon neutrality. Journal of Shandong University. Engineering Science, 2023. 53(5): p. 132-141.
[3]Shao, S., et al., Environmental Regulation and Enterprise Innovation: A Review. BUSINESS STRATEGY AND THE ENVIRONMENT, 2020. 29(3): p. 1465-1478.
[4]Wang, B., X. Guo and D. Gao, Constructive Research of Carbon Accounting Information Disclosure of Listed Companies, in LTLGB 2012: PROCEEDINGS OF INTERNATIONAL CONFERENCE ON LOW-CARBON TRANSPORTATION AND LOGISTICS, AND GREEN BUILDINGS. VOL 1, F. Chen, Y. Liu and G. Hua. 2013: International Conference on Low-Carbon Transportation and Logistics, and Green Buildings (LTLGB). p. 989-994.
[5]Zhang, Q. and Q. Yu, Performance of Carbon Emission Management, Carbon Information Disclosure and Firm Value Creation: A Theoretical Research Framework, in NATURAL RESOURCES AND SUSTAINABLE DEVELOPMENT II, PTS 1-4, J. Wu, et al. 2012: 1st International Conference on Energy and Environmental Protection (ICEEP 2012). p. 2602-2606.
[6]Li, L., et al., Media reporting, carbon information disclosure, and the cost of equity financing: evidence from China. ENVIRONMENTAL SCIENCE AND POLLUTION RESEARCH, 2017. 24(10): p. 9447-9459.
[7]Yang, Z., J. Peng and Q. Tang, Comparative Study of Compulsory and Voluntary Carbon Disclosure: Experience from China's Capital Market. Journal of Systems & Management, 2018. 27(3): p. 452-461.
[8]Yang, Y. and L. Li, Research on the Status Quo of Carbon Information Disclosure in Chinese Enterprises, in PROCEEDINGS OF THE 2014 INTERNATIONAL CONFERENCE ON MECHATRONICS, ELECTRONIC, INDUSTRIAL AND CONTROL ENGINEERING, L. Chang, C. Guiran and L. Zhen. 2014: International Conference on Mechatronics, Electronic, Industrial and Control Engineering (MEIC). p. 1530-1534.
[9]Xuexin Liu et al, Carbon disclosure level, cost of equity financing and firm value. Technological Economics, 2021. 40(08): p. 116-125..
[10]Yinghui Lin, Haiyan Lv & Jun Ma, A Study on the Influencing Factors on the Willingness of Manufacturing Enterprises to Disclose Carbon Information - A Perspective Based on the Theory of Planned Behaviour. Journal of Shanghai University (Social Science Edition), 2016. 33(02): p. 115-125.
[11]Qian, J., C. Chen and Y. Zhong, Environmental Regulation and Sustainable Growth of Enterprise Value: Mediating Effect Analysis Based on Technological Innovation. SUSTAINABILITY, 2022. 14(21).
[12]Luo, X., M. Yu and Y. Jin, The Impact of Economic Policy Uncertainty on Enterprise Green Innovation: A Study on the Moderating Effect of Carbon Information Disclosure. SUSTAINABILITY, 2023. 15(6).
[13]Nazwa, N., F.A. Fitri and IEEE, Can Carbon Emission Disclosure, Environmental Performance, and Corporate Social Responsibility Improve Firm Value in Indonesia? in 2022 INTERNATIONAL CONFERENCE ON DECISION AID SCIENCES AND APPLICATIONS (DASA). 2022: International Conference on Decision Aid Sciences and Applications (DASA). p. 1163-1167.
[14]Peng, M., et al., Government environmental information disclosure and corporate carbon performance. FRONTIERS IN ENVIRONMENTAL SCIENCE, 2023. 11.
[15]Pan, X. and S. Yuan, Corporate carbon disclosure, green innovation, and carbon performance. China Population Resources and Environment, 2023. 33(1): p. 112-123.
[16]Karim, A.T.M.E., K. Albitar and M. Elmarzouky, A novel measure of corporate carbon emission disclosure, the effect of capital expenditures and corporate governance. JOURNAL OF ENVIRONMENTAL MANAGEMENT, 2021. 290.
[17]Kurnia, P., E. Darlis and A.A. Putra, Carbon Emission Disclosure, Good Corporate Governance, Financial Performance, and Firm Value. JOURNAL OF ASIAN FINANCE ECONOMICS AND BUSINESS, 2020. 7(12): p. 223-231.
[18]Lemma, T.T., et al., Corporate carbon risk, voluntary disclosure, and cost of capital: South African evidence. BUSINESS STRATEGY AND THE ENVIRONMENT, 2019. 28(1): p. 111-126.
[19]Bui, B., O. Moses and M.N. Houqe, Carbon disclosure, emission intensity and cost of equity capital: multi-country evidence. ACCOUNTING AND FINANCE, 2020. 60(1): p. 47-71.
[20]Ghosh, S., R. Pareek and T.N. Sahu, Do Carbon Performance and Disclosure Practices Effect Companies' Financial Performance: A Non-Linear Perspective. ASIA-PACIFIC FINANCIAL MARKETS, 2023.
[21]Ye, Y., X. Yang and L. Shi, Environmental information disclosure and corporate performance: Evidence from Chinese listed companies. HELIYON, 2023. 9(12).
[1]Zeng, Y., et al., A review on scientific connotation, realization path and challenges of peak carbon dioxide emissions and carbon neutrality strategies. Modern Chemical Industry, 2022. 42(10): p. 1-4,10.
[2]Yuan, X., et al., Policy analysis and countermeasures for achieving carbon peak and carbon neutrality. Journal of Shandong University. Engineering Science, 2023. 53(5): p. 132-141.
[3]Shao, S., et al., Environmental Regulation and Enterprise Innovation: A Review. BUSINESS STRATEGY AND THE ENVIRONMENT, 2020. 29(3): p. 1465-1478.
[4]Wang, B., X. Guo and D. Gao, Constructive Research of Carbon Accounting Information Disclosure of Listed Companies, in LTLGB 2012: PROCEEDINGS OF INTERNATIONAL CONFERENCE ON LOW-CARBON TRANSPORTATION AND LOGISTICS, AND GREEN BUILDINGS. VOL 1, F. Chen, Y. Liu and G. Hua. 2013: International Conference on Low-Carbon Transportation and Logistics, and Green Buildings (LTLGB). p. 989-994.
[5]Zhang, Q. and Q. Yu, Performance of Carbon Emission Management, Carbon Information Disclosure and Firm Value Creation: A Theoretical Research Framework, in NATURAL RESOURCES AND SUSTAINABLE DEVELOPMENT II, PTS 1-4, J. Wu, et al. 2012: 1st International Conference on Energy and Environmental Protection (ICEEP 2012). p. 2602-2606.
[6]Li, L., et al., Media reporting, carbon information disclosure, and the cost of equity financing: evidence from China. ENVIRONMENTAL SCIENCE AND POLLUTION RESEARCH, 2017. 24(10): p. 9447-9459.
[7]Yang, Z., J. Peng and Q. Tang, Comparative Study of Compulsory and Voluntary Carbon Disclosure: Experience from China's Capital Market. Journal of Systems & Management, 2018. 27(3): p. 452-461.
[8]Yang, Y. and L. Li, Research on the Status Quo of Carbon Information Disclosure in Chinese Enterprises, in PROCEEDINGS OF THE 2014 INTERNATIONAL CONFERENCE ON MECHATRONICS, ELECTRONIC, INDUSTRIAL AND CONTROL ENGINEERING, L. Chang, C. Guiran and L. Zhen. 2014: International Conference on Mechatronics, Electronic, Industrial and Control Engineering (MEIC). p. 1530-1534.
[9]Xuexin Liu et al, Carbon disclosure level, cost of equity financing and firm value. Technological Economics, 2021. 40(08): p. 116-125..
[10]Yinghui Lin, Haiyan Lv & Jun Ma, A Study on the Influencing Factors on the Willingness of Manufacturing Enterprises to Disclose Carbon Information - A Perspective Based on the Theory of Planned Behaviour. Journal of Shanghai University (Social Science Edition), 2016. 33(02): p. 115-125.
[11]Qian, J., C. Chen and Y. Zhong, Environmental Regulation and Sustainable Growth of Enterprise Value: Mediating Effect Analysis Based on Technological Innovation. SUSTAINABILITY, 2022. 14(21).
[12]Luo, X., M. Yu and Y. Jin, The Impact of Economic Policy Uncertainty on Enterprise Green Innovation: A Study on the Moderating Effect of Carbon Information Disclosure. SUSTAINABILITY, 2023. 15(6).
[13]Nazwa, N., F.A. Fitri and IEEE, Can Carbon Emission Disclosure, Environmental Performance, and Corporate Social Responsibility Improve Firm Value in Indonesia? in 2022 INTERNATIONAL CONFERENCE ON DECISION AID SCIENCES AND APPLICATIONS (DASA). 2022: International Conference on Decision Aid Sciences and Applications (DASA). p. 1163-1167.
[14]Peng, M., et al., Government environmental information disclosure and corporate carbon performance. FRONTIERS IN ENVIRONMENTAL SCIENCE, 2023. 11.
[15]Pan, X. and S. Yuan, Corporate carbon disclosure, green innovation, and carbon performance. China Population Resources and Environment, 2023. 33(1): p. 112-123.
[16]Karim, A.T.M.E., K. Albitar and M. Elmarzouky, A novel measure of corporate carbon emission disclosure, the effect of capital expenditures and corporate governance. JOURNAL OF ENVIRONMENTAL MANAGEMENT, 2021. 290.
[17]Kurnia, P., E. Darlis and A.A. Putra, Carbon Emission Disclosure, Good Corporate Governance, Financial Performance, and Firm Value. JOURNAL OF ASIAN FINANCE ECONOMICS AND BUSINESS, 2020. 7(12): p. 223-231.
[18]Lemma, T.T., et al., Corporate carbon risk, voluntary disclosure, and cost of capital: South African evidence. BUSINESS STRATEGY AND THE ENVIRONMENT, 2019. 28(1): p. 111-126.
[19]Bui, B., O. Moses and M.N. Houqe, Carbon disclosure, emission intensity and cost of equity capital: multi-country evidence. ACCOUNTING AND FINANCE, 2020. 60(1): p. 47-71.
[20]Ghosh, S., R. Pareek and T.N. Sahu, Do Carbon Performance and Disclosure Practices Effect Companies' Financial Performance: A Non-Linear Perspective. ASIA-PACIFIC FINANCIAL MARKETS, 2023.
[21]Ye, Y., X. Yang and L. Shi, Environmental information disclosure and corporate performance: Evidence from Chinese listed companies. HELIYON, 2023. 9(12).
Copyright © 2024 Nuolin Sun, Zhonghua Yuan
This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License