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

Autor:	Diogenis Baboukardos
Rok vydání:	2017
Předmět:	Mandatory reporting business.industry 05 social sciences Accounting 050201 accounting Negative association Work (electrical) Shareholder Greenhouse gas 0502 economics and business Business Market value 050203 business & management Finance Environmental reporting
Zdroj:	Accounting Forum. 41:221-233
ISSN:	1467-6303 0155-9982
Popis:	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 toward firms’ carbon disclosures, as proposed by the theoretical work of Unerman and O’Dwyer (2007).
Databáze:	OpenAIRE
Externí odkaz:	https://explore.openaire.eu/search/publication?articleId=doi_________::3fce6cdede4534f293c222714f65933b https://doi.org/10.1016/j.accfor.2017.02.003 Zobrazit plný text záznamu Full Text from ScienceDirect