Market valuation of greenhouse gas emissions under a mandatory reporting regime: Evidence from the UK

被引：91

作者：

Baboukardos, Diogenis ^{[1
]}

机构：

[1] Univ Essex, Essex Sch Business, Wivenhoe Pk, Colchester CO4 3SQ, Essex, England

来源：

ACCOUNTING FORUM | 2017年 / 41卷 / 03期

关键词：

Greenhouse gas emissions; Value relevance; London Stock Exchange; Mandatory disclosures; Reporting regulationa; VALUE RELEVANCE; CLIMATE-CHANGE; FIRM-VALUE; CARBON; DISCLOSURE; GOODWILL;

D O I：

10.1016/j.accfor.2017.02.003

中图分类号：

F8 [财政、金融];

学科分类号：

020219 [财政学（含：税收学）];

摘要：

This study provides evidence on the potential benefits of mandatory environmental reporting for listed firms market valuation. It takes advantage of recent regulation that requires all listed firms in the UK to report their annual greenhouse gas (GHG) emissions in their annual reports and shows that the magnitude of the negative association between GHG emissions and the market value of listed firms decreased after the introduction of the reporting regulation. This decline is attributed to regulation forestalling shareholders negative reflexive reaction towards firms carbon disclosures, as proposed by the theoretical work of Unerman and ODwyer (2007). (C) 2017 Elsevier Ltd. All rights reserved.

引用

页码：221 / 233

页数：13

共 51 条

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