New sights for measuring the relations among environmental information disclosure, economic performance and corporate governance

2020 ◽  
pp. 002072092098368
Author(s):  
Che Siqi ◽  
Zhu Wenzhong ◽  
Li Xuepei ◽  
Pan Wen-Tsao
Keyword(s):  
Corporate Governance ◽  
Ownership Structure ◽  
Economic Performance ◽  
Information Disclosure ◽  
Environmental Information ◽  
Least Square ◽  
Environmental Disclosure ◽  
Cross Sectional ◽  
Ordinary Least Square ◽  
Environmental Information Disclosure

Environmental information disclosure is gradually gaining popularity, especially under the severe environmental pollution. Analyzing the relations among environmental information disclosure (EID), corporate governance and economic performance by employing a cross-disciplinary and a cross-sectional approach is a new start for improving environmental disclosure. The Ordinary Least Square results suggest that, firstly, firm size and ownership structure have significant positive relations with EID and economic performance. Secondly, the factors of corporate governance including the equity concentration ratio, logarithm of management incentive, logarithm of management shareholding, the board size and the number of directors, all have positive influences on EID. Thirdly, corporate governance has an impact on firm’s economic performance. Lastly, this study reveals that EID positively affects firm’s financial performance—solvency, operational capability and profitability. It is expected that this study can highlight the importance of environmental awareness of professional genre and enhance the environmental disclosure.

Impact of Corporate Governance on Environmental Information Disclosure-Evidence from China

2013 ◽  
Vol 448-453 ◽  
pp. 4314-4318 ◽  
Author(s):  
Ke Peng ◽  
Tong Tong Xu ◽  
Guo Fang Ning
Keyword(s):  
Corporate Governance ◽  
Information Disclosure ◽  
Supervisory Board ◽  
Environmental Information ◽  
Independent Directors ◽  
Environmental Disclosure ◽  
Environmental Information Disclosure ◽  
The Impact ◽  
A Share

This study examined the impact of corporate governance on environmental information disclosure in the China context. Our data was based on Shanghai A-share companies for the period 2008 to 2011. We examined the effect of corporate governance from different aspects. We found that Outstanding shares rate, State-holding ratio, and CEO/Chairman duality negatively affect environmental disclosure index (EDI) significantly; Proportion of independent directors, supervisory board and board sizes positively affect EDI significantly. Our results indicate that in China, corporate governance does influence the extent of environmental information disclosure significantly.

scholarly journals NÍVEL DE EVIDENCIAÇÃO AMBIENTAL E DESEMPENHO ECONÔMICO DE EMPRESAS: APLICANDO A ANÁLISE ENVOLTÓRIA DE DADOS

2013 ◽  
Vol 5 (1) ◽  
pp. 198-226
Author(s):  
Ilse Maria Beuren ◽  
Sabrina Do Nascimento ◽  
Irani Rocha
Keyword(s):  
Economic Performance ◽  
Information Disclosure ◽  
Complete Information ◽  
Financial Statements ◽  
Descriptive Study ◽  
Data Envelopment ◽  
Environmental Disclosure ◽  
Environmental Information Disclosure ◽  
Survey Results ◽  
The Relationship

The study poses to investigate the relationship between the level of environmental disclosure and economic performance of open capital companies as classified by the Você S/A – As Melhores Empresas para Você Trabalhar (The Best Companies to Work) guide. A descriptive study, employing a quantitative approach, was conducted via documental analysis of financial statements of the therein featured, 21 open capital companies. Survey results evidence that: a) in the environmental disclosure categorization, 680 data entries were found, ranging from 99 deemed complete information, 126 as incomplete and 455 absent; b) in terms of environmental disclosure score levels, 55% of the companies were graded as unsatisfactory, 35% regular and 9% good; and c) the relationship between corporate environmental disclosure levels and economic performance revealed bleak correlation. Thus, once employing the Data Envelopment Analysis (DEA) methodology, the study concludes that not all companies that presented higher environmental information disclosure levels attained efficient economic performance.

scholarly journals Analyst Following, Environmental Disclosure and Cost of Equity: Research Based on Industry Classification

2019 ◽  
Vol 11 (2) ◽  
pp. 300 ◽  
Author(s):  
Sheng Yao ◽  
Haotian Liang
Keyword(s):  
Least Squares ◽  
Information Disclosure ◽  
Ordinary Least Squares ◽  
Environmental Information ◽  
Mediating Effect ◽  
Cost Of Equity ◽  
Environmental Disclosure ◽  
Analyst Following ◽  
Environmental Information Disclosure ◽  
The Cost

Prior studies argue that an analyst is an important mediator between a firm and investors, and has a significant influence on the cost of equity. However, how analyst following influences the cost of equity has not been studied in depth. In the Chinese setting, where environmental information has attracted much attention, we explore the interaction among analyst following, environmental information disclosure, and cost of equity. With two linear regression methods of ordinary least squares (OLS) and two-Stage least squares (2SLS), we establish regressions to verify the relationships among them by using empirical data from 2004 to 2011 in China. The results show that analyst following can improve environmental information disclosure and lower the cost of equity. This interaction is more significant in the heavy-pollution industry and after new environmental policy is issued. We also find that environmental disclosure has a mediating effect, which determines how analyst following influences the cost of equity. The results expand the research on environmental information’s motivations and economic consequences.

scholarly journals Corporate governance and performance of financial institution

2019 ◽  
Vol 16 (1-1) ◽  
pp. 203-216 ◽  
Author(s):  
Juliet Wakaisuka-Isingoma
Keyword(s):  
Corporate Governance ◽  
Firm Performance ◽  
Financial Institutions ◽  
Ownership Structure ◽  
Information Disclosure ◽  
Positive Relationship ◽  
Developing Economies ◽  
Cross Sectional ◽  
Financial Transparency

The role of banking and insurance as an animated component of any economy has been widely recognized in the evolution of literature (Shrutikeerti & Amlan, 2017). The financial liberalization efforts taken by various developing economies had the central bearing on their financial institutions (Shrutikeerti & Amlan, 2016). The development of insurance and banking sectors play an important role in stimulating financial development and consequently the growth of the economy. Enhancing firm performance predicted through ownership structure, information disclosure, financial transparency and board profile safeguards reputation, yields effective risk management systems and yet helps firms achieve their business objectives. The study employed a sample of 103 financial institutions and adopted a descriptive cross-sectional survey design with a Pearson correlation coefficient. Reliability, validity and exploratory factor analysis with principal components and Cronbach’s alpha as well as hierarchical regression was reasonable for analysis but also directed using the Partial Least Square (PLS) modelling which was helpful in attesting the measurement and structural models appropriate for the performance of financial institutions. Reveal a statistically significant and positive relationship between corporate governance and firm performance. PLS modelling assented the structural and measurement models and recognized that corporate governance is statistically significant and predict firm performance through its different constructs of information disclosure, financial transparency, and ownership structure and board profile. Equally, firm performance demonstrated that management efficiency, earnings quality, asset quality, capital adequacy and liquidity were key dimensions. The study was cross-sectional and a longitudinal study is necessary to understand the dynamics of corporate governance and firm performance over a period of time. The results extend the understanding of the role of corporate governance in promoting firm performance in financial institutions. Additionally, the results add evidence to the growing body of research focusing on interdisciplinary aspects as well as the relationship between corporate governance and firm performance. Overall, there is a significant positive relationship between corporate governance and firm performance.

scholarly journals Quality assessment model of environmental information disclosure

2014 ◽  
pp. 76-87
Author(s):  
Inga Karlonaitė ◽  
Kristina Rudžionienė
Keyword(s):  
Quality Assessment ◽  
Social Life ◽  
Information Disclosure ◽  
Economic Value ◽  
Environmental Information ◽  
Environmental Accounting ◽  
Assessment Model ◽  
Environmental Disclosure ◽  
Environmental Information Disclosure ◽  
Increasing Demand

In last decades, environmental issues: pollution, climate change, sing of non-renewable resources, has influenced the economic value of nature and the protection of the environment has become an important goal for institutions and corporations. Increasing concern to environmental problems causes increasing demand for environmental disclosure of environmental related information. Responding to the increasing demand for such type of information, interest of environmental accounting and reporting is growing too. It is especially needed for the disclosed information to be useful and in high quality. Purpose of this work –prepare and adjust quality assessment model of environmental information disclosure. Case study indicates that this model is suitable for Baltic countries companies. Companies mostly disclose information about environmental costs, waste, pollution, programs, projects or activities in social life and regulations they follow. Lithuanian companies are most improved in this area, because 93,75% of companies discloses that information in financial reports, separate reports or internet pages.

Does policy uncertainty affect corporate environmental information disclosure: evidence from China

2020 ◽  
Vol 11 (5) ◽  
pp. 903-931 ◽  
Author(s):  
Yue Pan ◽  
Qiuping Chen ◽  
Pengdong Zhang
Keyword(s):  
Information Disclosure ◽  
Negative Relationship ◽  
Environmental Information ◽  
Policy Uncertainty ◽  
Appraisal System ◽  
Environmental Disclosure ◽  
Content Type ◽  
Environmental Information Disclosure ◽  
The Government ◽  
The Relationship

Purpose The purpose of this study is to investigate whether and how policy uncertainty affect corporate environmental information disclosure. Design/methodology/approach This study conducts a difference-in-difference estimation and systematically investigates the relationship between policy uncertainty and corporate environmental information disclosure. The baseline regression results are robust to a series of robustness and endogeneity tests. Findings The authors show that firms located in cities with stronger policy uncertainty disclose less information on environmental issues. Furthermore, this negative relationship is stronger in the Midwest and in pre-industrial regions and for stated-owned firms and firms in highly polluting industries. Practical implications This study argues that policy uncertainty reduce the corporate disclosure of environmental information. Therefore, the results provide evidence on how to better emphasize the importance of green gross domestic product in the performance appraisal system for officials. Social implications This study confirms that corporate environmental disclosure is a response to public pressure. The results encourage the government and the public to increase corporate awareness of environmental protection. Originality/value This study contributes to the literature in the following ways. First, the authors provide a new perspective to study the relationship between policy uncertainty and corporate finance. Second, it contributes to the literature on corporate environmental information disclosure by linking policy uncertainty with firms’ disclosure of environmental information. Third, this study is a serious attempt to solve the problem of endogeneity between policy uncertainty and corporate environmental information disclosure.

scholarly journals The Relationship between Environmental Information Disclosure and Profitability: A Comparison between Different Disclosure Styles

2019 ◽  
Vol 16 (9) ◽  
pp. 1556 ◽  
Author(s):  
Hua Yin ◽  
Mingyu Li ◽  
Yuan Ma ◽  
Qiang Zhang
Keyword(s):  
Information Disclosure ◽  
Least Squares Method ◽  
Least Square Method ◽  
Environmental Information ◽  
Least Square ◽  
Policy Implications ◽  
Corporate Managers ◽  
Environmental Information Disclosure ◽  
Research Gap ◽  
The Relationship

Combined with the existing research gap, this paper divides firms’ environmental information disclosure styles into two types: Substantive style and symbolic style. This paper elaborates on the relationship between environmental information disclosure and firms’ profitability of these two disclosure types and tests this relationship using the data from 676 firms employed from the heave-polluting industry. Considering the endogenous and heteroscedasticity problems, 2-stage least squares method and weighted least square method were adopted. The results showed that (1) positive relationships exist between environmental information disclosure and profitability for both types; and (2) the contribution of symbolic-style disclosure to profitability is larger than that of substantive-style disclosure. These findings are important for corporate managers and highlight some policy implications in developing countries.

Ownership and Control of Widely and Closely Held Firms in India

2017 ◽  
Vol 21 (4) ◽  
pp. 449-460 ◽  
Author(s):  
Balakrishnan Kavya ◽  
Santhakumar Shijin
Keyword(s):  
Corporate Governance ◽  
Cash Flow ◽  
Firm Size ◽  
Ownership Structure ◽  
Critical Issue ◽  
Least Square ◽  
Ordinary Least Square ◽  
Concentrated Ownership ◽  
Cash Flow Rights ◽  
And Control

The fundamental dichotomy between dispersed and focused ownership system has been a critical issue in the field of corporate governance. The concentrated ownership mainly controlled by families or state give more supremacy to firms over cash-flow rights. This study investigates the ownership structure of Indian corporates primarily vested in the hands of promoter and promoter groups. Using ordinary least square estimates, the study identifies the determinants of concentrated ownership structure. Further, the study attempts to provide evidence on the convergence of the controls in Indian firms, and thereby assess the wealth concentrated amidst few. The findings of the study reveal contrasting evidence against widely affirmed notion in finance literature by Berle and Means (1932) that widely held firm is the organizational framework of large enterprises. In contrast, our findings reveal that concentrated ownership holds large corporations. Moreover, in addition to the constituents such as firm size, the number of stock markets and geographic ownership also contribute towards a significant impact on concentrated ownership.

Sign in / Sign up

Export Citation Format

Share Document