Competitive Strategy, Voluntary Environmental Disclosure Strategy, and Voluntary Environmental Disclosure Quality PDF Download

Author: Qianhua Ling
Publisher:
ISBN:
Category :
Languages : en
Pages :

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Author: Marlene Plumlee
Publisher:
ISBN:
Category :
Languages : en
Pages :

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Book Description
This study examines the relationship between the quality of a firm's voluntary environmental disclosures and firm value by exploring the relationship between the components of firm value (expected future cash flows and cost of equity) and voluntary environmental disclosure quality. We measure voluntary environmental disclosure quality using a disclosure index consistent with the Global Reporting Initiative disclosure framework for a sample of US firms across five industries. In addition to overall disclosure quality, we consider the type (i.e., hard/soft) and the nature (i.e., positive/neutral/negative) of the disclosure in our analysis. We also include controls for both positive and negative environmental performance. Based on this analysis, we document (1) a positive association between some aspects of voluntary environmental disclosure quality and future expected cash flows, and (2) both a negative and positive association between some aspects of voluntary environmental disclosure quality and a firm's cost of equity capital. Our findings are consistent with increased voluntary environmental disclosure quality being associated with firm value through both the expected cash flow and cost of equity capital components. The results also highlight the benefit of parsing broader measures (e.g. voluntary disclosure quality) when examining complex relationships.

Author: Marlene Plumlee
Publisher:
ISBN:
Category :
Languages : en
Pages :

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Book Description
This study examines the relationship between the quality of a firm's voluntary environmental disclosures and firm value, by exploring the correlation between the components of firm value (cost of capital and expected cash flows) and disclosure quality. Using an innovative index to capture variation in environmental disclosure quality, we document a negative relation between cost of capital component of value and voluntary disclosure quality for firms that operate in environmentally sensitive or electrical industries and a generally positive association between the cash flow component of value and voluntary disclosure quality for firms that operate in environmentally non-sensitive industries. Our study provides a comprehensive rationale for a variety of firms to provide high quality voluntary disclosures, even though the means by which firm value is affected varies across firms. In addition, we document that the venue for the voluntary environmental disclosures (within a stand-alone report or as part of the annual report) significantly affect the relations. Overall, our results suggest a complex inter-relationship between firm value and voluntary disclosure quality; one that requires an understanding of the association between both the cost of capital and cash flows and voluntary disclosures.

Author: Khondkar Karim
Publisher: Bloomsbury Publishing USA
ISBN: 0313053588
Category : Business & Economics
Languages : en
Pages : 146

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Book Description
Understanding environmental liability and disclosure is critical for firm management, investors, accountants and auditors. The U.S. Congress has been increasing the pressure on companies to disclose information on environmental liabilities for years. This study delves into the issue by examining the impact of environmental disclosure on financial performance. These insightful essays provide guidance by supplying the most current and concise research available on this important topic. Covering such topics as legislation, liability, and regulations, this work analyzes how environmental disclosure influences the financial statements and public accountability of companies, and ultimately drives organizational change. This book builds the framework necessary to comprehend the complexities of quantifying environmental liabilities and make well-informed decisions.

Author: Jidong Zhang
Publisher:
ISBN:
Category :
Languages : en
Pages : 0

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Book Description
The relation between the motivation of voluntary disclosure and the characters of companies is important research topic in accounting research and strategy research. The paper investigates the samples from Chinese capital market during 2004-2006 and concludes some empirical results to verify and support the strategy theory that pre-literatures had document through the analysis of game theory. The findings are that there is no significant relationship between industry competitive information voluntary disclosure and corporate governance and there is no significant relationship between industry competitive information voluntary disclosure and earning quality. As the analysis of strategy theory, there is significant relationship between industry competitive information voluntary disclosure and corporate competitive strategy which integrates with the status of market competitive where the corporate locates. If the corporate locates in growth period of Product Life Cycle (PLC), it is more possible to disclose industry competitive information and this motivation is obvious. The findings provide the empirical evidence of strategy competitive theory. These also implicate that voluntary disclosure is related to the disclosure content, not to corporate characters such as governance and earning quality.

Author: Noha El-Bassiouny
Publisher: Routledge
ISBN: 1000082245
Category : Business & Economics
Languages : en
Pages : 166

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Book Description
The Middle East and North Africa (MENA) region is undergoing significant socio-political and developmental transition. Although interest in corporate social responsibility (CSR) in the region is growing, little research has addressed corporate social responsibility education and its potential impact. CSR has an important role to play in the socio-economic development of the Middle East and North Africa due to the volatility and developmental needs of the region. Recent research has highlighted that the vitality of the institutional environment and the needs of multiple stakeholders in CSR are not necessarily consistent with the notion of CSR in the West. This book compiles conceptual, contextual, and empirical research that addresses the concepts of CSR, ethics, and sustainability education in the MENA region, with a special emphasis on how educators can bridge to the Giving Voice to Values approach. This book presents a much-needed portfolio of articles from authors based in Egypt, Morocco, the Sultanate of Oman, Qatar, and the United Arab Emirates (UAE), highlighting first an overview of the topic and its corresponding publications in the MENA region, then presenting several exemplary cases related to ECSRS application in various countries.

Author: Yong Ting Aw
Publisher:
ISBN:
Category : Business enterprises
Languages : en
Pages : 400

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Book Description
Additional analysis provides preliminary evidence that the quality of environmental disclosures is higher for reporting companies which have engaged experts in environmental assurance than for those which have engaged non-experts. For companies which have engaged accountant assurors to perform environmental assurance, this study also finds that the quality of environmental disclosures is higher for reporting companies with independent assurors than for those with non-independent assurors, independence being not the financial auditor of the reporting company. Besides, the more environmental reports the reporting company has had assured over time, the higher the quality of environmental disclosures."--Abstract, leaf vii.

Author: Abeer Hassan
Publisher:
ISBN:
Category :
Languages : en
Pages : 0

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Adopting legitimacy proactive approach, this paper examines and evaluates relationship between levels of environmental performance (measured by environmental awards) and the quality of specific voluntary environmental disclosure using a sample of UK FTSE 100 companies. Companies in the sample have been grouped according to industry membership (carbon intensive vs. non-carbon-intensive) and environmental performance (poor performers vs. better performers). Statistical techniques have been used to test for variations in the quality of voluntary environmental disclosure between the companies in these groups. The findings reveal that the extent of quantitative environmental disclosure by companies with poor environmental performance in the carbon intensive group was significantly higher than similar disclosures made by either better environmental performers or poor environmental performers from non-carbon intensive industries for some activities. In contrast, quantitative environmental disclosure by better performers is found to be of a significantly higher quality than similar disclosures made by either poor performers or better performers from carbon intensive group for other activities. The results have some implications for various stakeholders and offers opportunities for future research, specially, in relation to environmental awarding bodies and their criteria for awarding.

Author: Santanu Kumar Ghosh
Publisher:
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Category :
Languages : en
Pages :

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Corporate environmentalism is an aspect of good corporate citizenship that revolves around the concept of sustainability. This study examines the determinants of corporate environmental responsibility and the economic benefits attached to it. The study focuses on the disclosure aspect of corporate environmentalism and how corporate governance practices of companies from polluting as well as non-polluting industries in India influence the voluntary environmental disclosure quality. The findings reveal significant impact of ownership concentration and public shareholding on voluntary environmental disclosures, but independent directors are found to have no impact on voluntary environmental disclosures in both polluting and non-polluting industries.

Author: Rosita Capurro
Publisher: Springer Nature
ISBN: 3030672786
Category : Business & Economics
Languages : en
Pages : 88

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Book Description
The rise of sustainability has swept away the traditional views about firms’ competitiveness, survival and profitability, advocating new approaches. Although the strategic decisions on sustainable issues become more important, many firms have erroneously narrow view of environmental strategies and related practices generally have only an outward-looking focus. In line with these considerations, this book aims to investigate the “environmental dimension” as a new “strategic variable” for contributing to strengthen the competitive positioning of firms and to increase the value creation process. The author provides a comprehensive framework for green management by highlights practices and tools to translate strategy into effective environmental ideas. The focus is on goals and actions, from a side, and on the implementation of appropriate control systems useful for monitoring the results of environmental performance, on the other. As such, the book enriches sustainability literature, offers new insights for scholars, and provides implications for practitioners involved in green management.