Why Does the Reduction of Greenhouse Gas Emissions Enhance Firm Value? The Case of Japanese Manufacturing Firms

2011 ◽  
Vol 21 (8) ◽  
pp. 517-529 ◽  
Author(s):  
Kimitaka Nishitani ◽  
Katsuhiko Kokubu
Keyword(s):  
Greenhouse Gas Emissions ◽  
Greenhouse Gas ◽  
Firm Value ◽  
Manufacturing Firms ◽  
Gas Emissions

scholarly journals The Effect Of Greenhouse Gas Emissions Disclosure And Environmental Performance On Firm Value: Indonesia Evidence

2019 ◽  
Author(s):  
Gabrielle Gabrielle ◽  
Agus Arianto Toly
Keyword(s):  
Greenhouse Gas Emissions ◽  
Greenhouse Gas ◽  
Environmental Performance ◽  
Firm Value ◽  
Stock Exchange ◽  
Secondary Data ◽  
Annual Reports ◽  
Gas Emissions ◽  
Operating Income ◽  
Positive Effect

This study aimed to investigates the effect of greenhouse gas emissions disclosure and environmental performance on firm value. The samples were companies participating in the Performance Rating Assessment Programme on Environment Management (PROPER/Program Penilaian Peringkat Kinerja Perusahaan) of the Ministry of Environment Republic of Indonesia that are listed in the Indonesia Stock Exchange (BEI) 2014-2017 period. The data used were secondary data from annual reports and/or sustainability reports. This study uses moderated regression analysis with panel data processed by using EViews. The results of this research found that greenhouse gas emissions disclosure and environmental performance have a positive effect on firm value. Environmental performance can moderate the relationship between greenhouse gas emissions disclosure and firm value. Debt to equity ratio and net operating income as control variables have a positive effect on firm value, but firm size has a negative effect on firm value. Keywords: Carbon Disclosure; Greenhouse Gas Emissions; Environmental Performance; Firm Value

scholarly journals CEO Overconfidence and Voluntary Disclosure of Greenhouse Gas Emissions: With a Focus on the Role of Corporate Governance

2021 ◽  
Vol 13 (11) ◽  
pp. 6054
Author(s):  
Jaehong Lee
Keyword(s):  
Corporate Governance ◽  
Greenhouse Gas Emissions ◽  
Greenhouse Gas ◽  
Voluntary Disclosure ◽  
Firm Value ◽  
Positive Relationship ◽  
Female Representation ◽  
Gas Emissions ◽  
External Governance

The purpose of this study is to investigate the relationship between overconfident CEOs, voluntary disclosure of greenhouse gas emissions and firm value, and whether corporate (internal and external) governance affects this association. Using logistic regression and a firm-fixed effect model, I analyzed a sample of voluntary disclosing firms with the fiscal year in December that are listed in the Korean stock market for the period from 2011 to 2019, measuring corporate governance based on female representation within boards and industry-level competition. As a result, this study finds that, on average, CEO overconfidence is positively related to voluntary disclosure of greenhouse gas emissions. Moreover, in firms with more female representation on boards, the positive relationship between CEO overconfidence, voluntary disclosure of greenhouse gas emissions, and firm value is more pronounced, implying that women directors effectively monitor overconfident CEOs. Similarly, this positive relationship is also strengthened according to the degree of industry-level competition, which indicates that the external governance role of competition can alleviate CEO overconfidence. This study is meaningful as the first study to examine the effect of voluntary greenhouse gas (GHG) emissions disclosure on investors’ valuation in the Korean capital market, taking the characteristics of managers and governance structure into account.

scholarly journals Executive Compensation, Disclosure of Greenhouse Gas Emissions and Firm Value

2021 ◽  
Vol 6 (1) ◽  
pp. 32
Author(s):  
Dian Agustia ◽  
Irawan Purwa Wijaya
Keyword(s):  
Executive Compensation ◽  
Greenhouse Gas Emissions ◽  
Greenhouse Gas ◽  
Firm Value ◽  
Greenhouse Gas Emission ◽  
Stock Exchange ◽  
Partial Least Square ◽  
Least Square ◽  
Gas Emissions ◽  
Analysis Technique

<p><em>This study aims to determine the effect of executive compensation on firm value through greenhouse gas emissions disclosure as a mediation variable. Population in this research are firms listed in the Indonesia Stock Exchange (IDX) and published sustainability reports for the period 2015 to 2019. The sample determination in this study used a purposive sampling method and obtained 150 companies. The data analysis technique in this research is using Partial Least Square (PLS) test. </em><em>This study shows that executive compensation has a significant positive effect on firm value but does not affect greenhouse gas emissions disclosure. Greenhouse gas emissions disclosure has no significant effect on firm value. </em><em>This research contributes to the relationship of literature about the greenhouse gas emissions being able to mediate partially the effect of executive compensation on firm value. Furthermore, it also addresses greenhouse gas emission and executive compensation using company samples and periods that have not been explored previously.</em></p>

scholarly journals Pengaruh Pengungkapan Emisi Gas Rumah Kaca terhadap Nilai Perusahaan dengan Biaya Lingkungan sebagai Variabel Moderasi

At-Taqaddum ◽  
2020 ◽  
Vol 12 (2) ◽  
pp. 155-168
Author(s):  
Miftahul Ulum ◽  
Ratno Agriyanto ◽  
Warno Warno
Keyword(s):  
Greenhouse Gas Emissions ◽  
Greenhouse Gas ◽  
Firm Value ◽  
Stock Exchange ◽  
Sampling Technique ◽  
Environmental Costs ◽  
Ghg Emission ◽  
Literature Study ◽  
Gas Emissions ◽  
The Impact

Global warming is caused by an increase in greenhouse gas emissions in the atmosphere, so companies must take responsibility for this through activities to reduce emissions. The purpose of this study is to examine whether environmental costs can moderate the disclosure of greenhouse gas emissions against firm value. This research is a type of quantitative analysis. The sampling technique used purposive sampling. The collecting data through literature study, documentation and secondary data from the Indonesia Stock Exchange 2014-2018. The data analysis technique used the WarpPls 4.0 analysis. They are testing the data using the inner model and outer model methods. This study indicates that GHG emission disclosure has a negative and significant effect on firm value. Environmental costs also have a negative and significant impact on firm value. Meanwhile, ecological prices are not able to moderate the impact of GHG emission disclosures on company value.

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