Relationship between determinant factors of disclosure of information on environmental impacts of Brazilian companies

Vogt, Mara; Hein, Nelson; Rosa, Fabrícia Silva da; Degenhart, Larissa

doi:10.1016/j.estger.2016.10.007

Cited by 34 publications

(40 citation statements)

References 46 publications

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“…Vogt et al () in turn aimed at analyzing the relationship between the determinants of the disclosure of information on the environmental impacts of Brazilian companies. The study concludes that the size, audit, and Global Reporting Initiative (GRI) are associated with disclosure whereas the corporate sustainability index, pollution potential (POTEN), governance, stocks, return on assets, and return on equity are not associated with disclosure.…”

Section: Theoretical Frameworkmentioning

confidence: 99%

“…Previous researchers investigated corporate environmental disclosure (CED; see, e.g., Amran, Ooi, Mydin, & Devi, ; Andrikopoulos & Kriklani, ; Arrive & Feng, ; Giannarakis, Zafeiriou, Sariannidis, & Efthalitsidou, ; Hassan & Ibrahim, ; Kaymak & Bektas, ; Kuo, Yeh, & Yu, ; Meng, Zeng, Shi, Qi, & Zhang, ; Pucheta‐Martínez & López‐Zamora, ; Sobhani, Amran, & Zainuddin, ; Suttipun & Stanton, ; Vogt, Hein, da Rosa, & Degenhart, ). Some studies focused on corporate carbon disclosure or climate change disclosure (see, e.g., Cadez & Czerny, ; De Aguiar & Bebbington, ; Haque, Deegan, & Inglis, ; Kolk, Levy, & Pinkse, ; Lee, Park, & Klassen, ; Rankin, Windsor, & Wahyuni, ; Stanny & Ely, ; Sullivan, ; Sullivan & Gouldson, ).…”

Section: Introductionmentioning

confidence: 99%

See 1 more Smart Citation

Factors influencing the level of environmental disclosures in sustainability reports: Case of climate risk disclosure by Brazilian companies

Kouloukoui

Sant’Anna

Gomes

et al. 2019

Corp Soc Responsibility Env

111

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In addition to sustainability issues, companies are being asked to disclose information on climate change risks in order to inform investors and stakeholders. However, despite the growing number of studies on corporate environmental disclosure, there are few studies on risks and opportunities in relation to climate change. This study investigated the extent and content of climate risks information disclosure provided in the sustainability reports of firms listed on the Brazilian Stock Exchange (BM&FBovespa) and tested whether there were any relationships between the amount of climate risks disclosure and some corporation characteristics. The sample was composed of companies that were simultaneously listed on the stock exchange and disclosed the Global Reporting Initiative sustainability reports from 2009 to 2014. The final sample of the study was 67 companies totaling 402 observations. Preliminary results from the content analysis revealed that, although Brazilian companies tend to disclose information on climate risks, the level of this type of disclosure still remains relatively low. Findings suggest that corporate climate risk disclosures have significant and positive relationships with firm size, financial performance, and country origin. Nevertheless, findings indicate that corporate climate risk disclosures have negative associations with level of indebtedness.

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Section: Theoretical Frameworkmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

Factors influencing the level of environmental disclosures in sustainability reports: Case of climate risk disclosure by Brazilian companies

Kouloukoui

Sant’Anna

Gomes

et al. 2019

Corp Soc Responsibility Env

111

View full text Add to dashboard Cite

show abstract

“…Whether an enterprise actively discloses water information or reports water consumption or utilization of the enterprise to stakeholders has become one of the main factors for investors and creditors to reassess the value of investment and return on investment (Lambooy, 2011). There is little research on the economic consequences of water information disclosure, but many scholars have discussed the influence of social responsibility, environment, and carbon information disclosure on the cost of capital (An, Davey, Eggleton, & Wang, 2015;Broadstock, Collins, Hunt, & Vergos, 2017;Chen, Pan, Wang, & Shen, 2016;He, Tang, & Wang, 2014;Vogt, Hein, Rosa, & Degenhart, 2017). Based on efficient market theory, in an efficient capital market specific information can become quickly known by investors and creditors.…”

Section: Introductionmentioning

confidence: 99%

“…As environmental problems are becoming increasingly serious, and with the introduction of environmental regulation policies, investors and creditors are increasingly looking forward to disclosure of corporate environmental information, so that enterprises can also reduce the cost of capital by actively disclosing environmental information (Ane, 2012;Shen, You, & Liu, 2010;Tian, Guo, Han, & Ahmad, 2016;Vogt et al, 2017;Wu, 2014). As climate change intensifies, companies will expand the scope of disclosure to carbon information to reduce the cost of capital in order to mitigate legal pressure (Broadstock et al, 2017;Grauel & Gotthardt, 2016;Luo & Tang, 2014;Thomson, 2011).…”

Section: Introductionmentioning

confidence: 99%

The impact of water information disclosure on the cost of capital: An empirical study of China's capital market

Zhou

Zeng

et al. 2018

Corp Soc Responsibility Env

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This study seeks to understand the underlying relationship between water information disclosure and the cost of capital in Chinese high‐water risk firms. With continuous strengthening of the Chinese Government's water regulation policy, water resources have begun to affect the sustainable development of enterprises. Many stakeholders have begun to pay attention to a series of water resources issues that companies face. As an important means of transmitting signals between enterprises and capital markets, water information disclosure can help enterprises achieve more favourable views of stakeholders. Using a sample of 334 listed companies in the Chinese high‐water sensitivity industry from 2010 to 2015, this paper examines the influence of these firms' water information disclosure on the cost of capital, and analyses the function mechanism of political connection on the relationship between water information disclosure and enterprise capital cost by using a panel regression model.

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“…As such, entity's performance is an important factor in determining the environmental information to be disclosed. Many studies have used return on equity (ROE) and/or return on assets (ROA) to express company performance [58][59][60][61][62][63][64][65][66]. We have used ROE (net profit/equity) to accomplish our goal.…”

Section: Company Performancementioning

confidence: 99%

Environmental Information Transparency—Evidence from Romanian Companies

et al. 2019

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The purpose of this paper is to analyse disclosure of environmental information (DEI) for a set of 100 companies listed at the Bucharest Stock Exchange (BSE) and identify possible correlations between this and the evolution of some relevant economic and financial measures of companies’ activities. For these purposes we have calculated an index of environmental information disclosure and we employed a system dynamic panel data estimation model and panel corrected standard errors for sampled companies for the 2013–2017 period. The results we have obtained show that sampled companies have a low degree of environmental information disclosure, as the highest registered score was of 15 out of a maximum of 29 points, with an average of merely 6.37 points. Regarding the possible correlations, the tests performed have shown that entity size, expressed by the number of employees, is the factor which positively influences environmental information’s disclosure. Results also evidence that performance determines the quantity of information the firm provides to external users, as opposed to maturity/age. Our study is the first approaching companies from Bucharest Stock Exchange with data for 5 years using a mixed approach (DEI–index and regressions) and we think the results obtained are useful for managers, general public and investors, considering that size and performance greatly influence companies’ environmental awareness.

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Relationship between determinant factors of disclosure of information on environmental impacts of Brazilian companies

Cited by 34 publications

References 46 publications

Factors influencing the level of environmental disclosures in sustainability reports: Case of climate risk disclosure by Brazilian companies

Factors influencing the level of environmental disclosures in sustainability reports: Case of climate risk disclosure by Brazilian companies

The impact of water information disclosure on the cost of capital: An empirical study of China's capital market

Environmental Information Transparency—Evidence from Romanian Companies

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