2024
DOI: 10.1002/bse.3952
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Stock market reaction to mandatory sustainability reporting: Does carbon‐intensity and environmental, social, and governance reputation matter?

Dharen Kumar Pandey,
Waleed M. Al‐ahdal,
Hafiza Aishah Hashim

Abstract: With a sample of 679 listed firms, integrating the event study method and cross‐sectional analysis, we examine the stock market reaction to mandatory sustainability reporting regulation in India. We find that (1) on average, investors react positively to such announcements; (2) the impact varies across different sectors; (3) affected and unaffected firms do not posit significant differences; (4) carbon‐intensive firms are positively impacted; and (5) high environmental, social, and governance (ESG) performance… Show more

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Cited by 2 publications
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