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

Baboukardos, Diogenis (2017) 'Market valuation of greenhouse gas emissions under a mandatory reporting regime: Evidence from the UK.' Accounting Forum, 41 (3). 221 - 233. ISSN 0155-9982

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Abstract

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).

Item Type: Article
Uncontrolled Keywords: Greenhouse gas emissions, Value relevance, London Stock Exchange, Mandatory disclosures, Reporting regulation
Subjects: H Social Sciences > HF Commerce > HF5601 Accounting
Divisions: Faculty of Social Sciences > Essex Business School
Faculty of Social Sciences > Essex Business School > Essex Accounting Centre
Depositing User: Diogenis Baboukardos
Date Deposited: 19 Apr 2017 09:36
Last Modified: 30 Sep 2018 01:00
URI: http://repository.essex.ac.uk/id/eprint/19426

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