The Effects of Environmental Disclosure on the Judgement of Financial and Non-financial Performance
| Autor: | Pei-Ching Chen, 陳佩菁 |
|---|---|
| Rok vydání: | 2004 |
| Druh dokumentu: | 學位論文 ; thesis |
| Popis: | 92 This study modifies the types of environmental disclosure proposed by Bullough and Johnson (1995), and this study divides the types of environmental disclosure into two major categories: (1) policy environmental disclosure and (2) complete environmental disclosure. In addition, this study also considers the factors of financial situations (good and bad) and industries (high-technology and chemical sector) simultaneously. This research adopts experimental methodology to examine the effects of environmental disclosure on the judgment of financial performance (e.g. stock price and financial distress), and non-financial performance (e.g. loyalty, corporate image, and trust). The subjects are investors who have business education background. Moreover, this study follows the suggestions of Slovic and MacPhillamy (1974) to investigate whether there are differences between common measure (financial information) and unique measure (environmental information). In the case of between-subjects designs, the major findings including: 1. In the high-tech LCD industry with good financial situation, the policy environmental information will increase the evaluation of the probability of financial distress, and this negative effect in the high-tech industry is more intensive than chemical industry. Moreover, to disclose complete environmental information, the subjects will increase the evaluation of corporate image and attitude loyalty, but the positive effect is less than in chemical industry. 2. In the high-tech LCD industry with bad financial situation, the complete environmental information will decrease the evaluation of the probability of financial distress, and this positive effect is more intensive than in chemical industry. 3. In the high-tech LCD industry, the complete environmental information will increase the evaluation of loyalty and corporate image, and within the bad financial situation has the greatest significant effect. 4. In the chemical industry, the complete environmental information will also increase the evaluation of corporate image and trust, and within the bad financial situation has the greatest significant effect. 5. In spite of the industries or financial situations difference, the subjects weight common measure (financial information) more important than unique measure (environmental information). In the case of within-subjects designs, the major findings including: 1. In the high-tech LCD industry with good financial situation, to disclose complete environmental information will increase the evaluation of trust. 2. In the high-tech LCD industry with bad financial situation, to disclose environmental information will increase evaluation of corporate image, and the complete environmental information has the greatest effect. 3. In the chemical industry with good financial situation, the complete environmental information will increase the evaluation of behavior loyalty and corporate image. 4. In the chemical industry with bad financial situation, the complete environmental information has positive evaluation of financial and non-financial performance, and the effect on attitude loyalty is more significant than in high-tech industry. 5. Regardless of industries, to disclose complete environmental information will increase the evaluation of corporate image, and the effect of complete environmental information has the greatest significant in bad financial situation. 6. The results show that the subjects also weight common measure (financial information) more important than unique measure (environmental information). |
| Databáze: | Networked Digital Library of Theses & Dissertations |
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