Firm-Value Effects of Carbon Emissions and Carbon Disclosures—Evidence from Korea

Lee, Jeong Hwan; Cho, Jin-Hyung

doi:10.3390/ijerph182212166

Cited by 26 publications

(35 citation statements)

References 17 publications

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“…Specifically, voluntary disclosure is called so because managers voluntarily choose whether to disclose information on corporate carbon emissions, and there is no special penalty for not disclosing due to the nature of voluntary disclosure. Recently, research on the disclosure of carbon emission information by companies has been actively conducted, but only a small number of studies have been conducted in South Korea for the reason of securing data [ 14 , 15 , 16 , 17 , 18 ]. Briefly introducing domestic studies conducted with carbon emission information data surveyed by CDP institutions such as this paper, there are studies showing that the higher the carbon emission information, the higher the corporate value, and the higher the share of foreign investors, the higher the tendency to disclose carbon emission information.…”

Section: Backgrounds and Hypothesesmentioning

confidence: 99%

The Effect of Female Personnel on the Voluntary Disclosure of Carbon Emissions Information

Kim

2022

IJERPH

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This paper examines the effect of female personnel (female executives and female employees) on corporate voluntary disclosure policy on carbon emission information. The study is motivated from the recent fact that the laws and systems related to female workers are rapidly changing as the social and economic status of women in South Korea has recently improved. In a sample of 9406 firm-year observations over the period from 2014 to 2020, the higher the proportion of female executives, the higher the frequency of voluntary disclosure on carbon emission information. These results are the same even when the female workforce was measured as the proportion of general female employees. Therefore, it can be said that the existence of female personnel at the management and practice level plays a significant role in improving voluntary disclosure quality. By considering the impact of gender manpower composition on enhancing corporate transparency, it provides evidence that market participants can have a positive view on the quality of information environment provided by companies with a high proportion of female personnel.

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Section: Backgrounds and Hypothesesmentioning

confidence: 99%

The Effect of Female Personnel on the Voluntary Disclosure of Carbon Emissions Information

Kim

2022

IJERPH

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“…9 Firms adopting ESG management practices may voluntarily disclose carbon emission information because such disclosure is considered the first step in addressing climate change, a key aspect of ESG practices. 5 Empirical studies on carbon emissions often utilize data from the CDP. The CDP is a nonprofit institution that collects global data on firms' carbon disclosure.…”

Section: Firm's Tendency To Carbon Disclosurementioning

confidence: 99%

“…Several studies in the Korean market use CDP reports to determine whether firms disclose their carbon emissions. For example, using CDP data, Lee and Cho (2021) in Korea found that Korean firms with higher environmental performance are likely to voluntarily disclose their carbon emissions. 5 They also emphasize the importance of firm heterogeneity, such as corporate governance structure, in the decision-making process for voluntary disclosure.…”

Section: Korean Market and Firms' Carbon Disclosurementioning

confidence: 99%

“…For example, using CDP data, Lee and Cho (2021) in Korea found that Korean firms with higher environmental performance are likely to voluntarily disclose their carbon emissions. 5 They also emphasize the importance of firm heterogeneity, such as corporate governance structure, in the decision-making process for voluntary disclosure. Choi and Noh (2016) in Korea observed a higher firm value and a better credit rating for firms voluntarily disclosing carbon information based on their hand-collected data on carbon disclosure.…”

Section: Korean Market and Firms' Carbon Disclosurementioning

confidence: 99%

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Machine learning approach for carbon disclosure in the Korean market: The role of environmental performance

Lee,

Cho,

Kim

et al. 2024

Science Progress

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Over the past few decades, scholars have employed a wide range of methodologies to determine the factors influencing firms’ voluntary carbon disclosure. Most of these studies have been conducted in advanced markets. This article aims to examine the trend of voluntary carbon disclosure in the Korean financial market by utilizing machine learning models such as Random Forest and Gradient Boosted Decision Tree. Based on a set of hand-collected carbon disclosure data, we initially demonstrated significantly better performance of machine learning models compared to the traditional logistic model. Regarding the factors influencing disclosure, we consistently find the importance of environmental scores, emphasizing the role of the emerging mega-trend of ESG management practices in disclosure decisions. However, in contrast to recent studies, we do not find that the unique Korean governance structure, chaebol, has any significantly different implications in terms of prediction performance and variable importance in carbon disclosure decisions.

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“…Enterprises whose actual emissions exceed the quotas must purchase the quotas of the excess emissions to complete the appointment (Sadawi et al, 2021). Lee and Cho (2021) examined the economic consequences of carbon trading and suggested that the implementation of carbon trading can promote the increase of firm value. Yu (2018) concluded that the implementation of carbon emissions has a significant positive impact on corporate sustainable development, indicating that carbon reduction is beneficial to the ecological environment and corporate sustainability.…”

Section: Introductionmentioning

confidence: 99%

Environmental protection and sustainable development of enterprises in China: The moderating role of media attention

Qing

Jin

2022

Front. Environ. Sci.

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Faced with global environmental problems, such as global warming, enterprises have become important players in environmental protection. By fulfilling their environmental responsibilities, enterprises can create a good external image and gain support from the public and government, thereby increasing the influence of their enterprises. At the same time, the media plays the role of guiding public opinion and supervising the market economy in enterprise development and market economy. Therefore, this study investigates whether the environmental protection measures taken by enterprises have a positive effect on their sustainable development, and how media attention affects the relationship between environmental protection and sustainable development. This study uses the fixed effect regression method to empirically study the data of A share listed companies in China, from 2016 to 2019. The results of the study show that the enterprises’ fulfillment of environmental responsibilities or carbon trading can promote sustainable development. Furthermore, the higher the network or print media attention, the more environmentally responsible behavior and carbon emissions trading can promote sustainable development capabilities of enterprises. This study enriches the understanding of the important role played by environmental protection in driving enterprise sustainability and contributes to the literature by emphasizing the need for media attention about environmental responsibilities and carbon emissions trading.

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Firm-Value Effects of Carbon Emissions and Carbon Disclosures—Evidence from Korea

Cited by 26 publications

References 17 publications

The Effect of Female Personnel on the Voluntary Disclosure of Carbon Emissions Information

The Effect of Female Personnel on the Voluntary Disclosure of Carbon Emissions Information

Machine learning approach for carbon disclosure in the Korean market: The role of environmental performance

Environmental protection and sustainable development of enterprises in China: The moderating role of media attention

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