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- W2273667545 abstract "Existing literature has not yet provided fully conclusive evidence on the relationship between the level of companies' carbon disclosure, as one type of environmental information disclosure, and their financial performance. This paper studies carbon disclosure through the Carbon Disclosure Project (CDP) and observes its effect on financial performance by means of a test double carried out in the Spanish financial market. Market response to the publication of CDP reports was monitored through an event study and studying how the CDP score impacts companies' share price using a model based in Ohlson, (1995) and developing a panel data analysis. The results confirm that the market responds to the disclosure of environmental information with an incremental effect on financial performance, which furthermore corroborates the fact that companies with better environmental performance have higher levels of environmental information disclosure, as predicted by the voluntary disclosure theory." @default.
- W2273667545 created "2016-06-24" @default.
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- W2273667545 date "2015-10-01" @default.
- W2273667545 modified "2023-09-30" @default.
- W2273667545 title "The Value of Climate Change Reporting of Firms" @default.
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- W2273667545 doi "https://doi.org/10.4018/ijsesd.2015100107" @default.
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