2021
DOI: 10.3390/su132413532
|View full text |Cite
|
Sign up to set email alerts
|

Government Environmental Pressure and Market Response to Carbon Disclosure: A Study of the Early Chinese ETS Implementation

Abstract: We studied how companies’ carbon disclosures affect the cost of capital under the Chinese government’s introduction of the Emissions Trading Scheme (ETS) regulation. We also tested how much the effect varied between state-owned and private enterprises, and between polluting and non-polluting industries. Since, at its early stage, the market may perceive signals and implementations of environmental regulation as a cost burden, the effect of environmental disclosure, which is traditionally known to reduce the co… Show more

Help me understand this report

Search citation statements

Order By: Relevance

Paper Sections

Select...
2
1

Citation Types

1
2
0

Year Published

2022
2022
2024
2024

Publication Types

Select...
6

Relationship

0
6

Authors

Journals

citations
Cited by 6 publications
(3 citation statements)
references
References 109 publications
(222 reference statements)
1
2
0
Order By: Relevance
“…This outcome contradict the hypothesis regarding ownership type, aligning with previous studies by Peng et al (2015), Halkos and Skouloudis (2016), Faisal et al (2018), andKumar (2022). Jin et al (2021) state that social pressure in emerging countries is lower compared to developed countries, where government influence significant shapes business political legitimacy. Consequently, this scenario indicates that SOEs, possessing strong political legitimacy, might be less responsive to regulatory pressure.…”
Section: Resultssupporting
confidence: 61%
See 1 more Smart Citation
“…This outcome contradict the hypothesis regarding ownership type, aligning with previous studies by Peng et al (2015), Halkos and Skouloudis (2016), Faisal et al (2018), andKumar (2022). Jin et al (2021) state that social pressure in emerging countries is lower compared to developed countries, where government influence significant shapes business political legitimacy. Consequently, this scenario indicates that SOEs, possessing strong political legitimacy, might be less responsive to regulatory pressure.…”
Section: Resultssupporting
confidence: 61%
“…This may suggest that different type of ownership do not necessary imply companies' disclosure behavior. Nevertheless, the correlation analysis solely shows relationships between two variables, ignoring potential impacts from other influencing factors (Jin et al, 2021). Hence, a regression analysis that factors in other potential influences is necessary to gain a deeper understanding of these relationships.…”
Section: Resultsmentioning
confidence: 99%
“…Research on whether disclosure of corporate environmental performance is useful for investors to evaluate corporate value has long received much attention in the field of environmental accounting [15][16][17][18][19][20][21]. Previous studies have mainly concentrated on the impact of environmental performance on corporate value [21][22][23][24][25][26][27][28][29][30][31][32][33].…”
Section: Backgrounds and Hypothesesmentioning
confidence: 99%