IDEAS home Printed from https://ideas.repec.org/a/gam/jijfss/v12y2024i3p66-d1428361.html
   My bibliography  Save this article

Corporate Social Responsibility, Carbon Information Disclosure, and Enterprise Value: A Study of Listed Companies in China’s Highly Polluting Industries

Author

Listed:
  • Feng Shi

    (School of Economics and Management, Xi’an Kedagaoxin University, Xi’an 710109, China)

  • Yuan Wang

    (School of Management, Xi’an Jiaotong University, Xi’an 710049, China
    School of Management, Xi’an University of Science & Technology, Xi’an 710054, China)

Abstract

In 2022, China actively carried out economic transformation and sought high-quality development. To date, enhancing enterprise value is still one of the top priorities for enterprises. Enterprises should take various measures to continuously enhance their value in order to strive for their survival and development. The fulfillment of social responsibilities not only brings benefits to all stakeholders, but also establishes a good corporate image in front of the public and can increase enterprise value. At the same time, in the context of “carbon peaking and carbon neutrality”, carbon information disclosure has an important impact on enterprises and their stakeholders. Taking the data of listed companies within China’s Shanghai and Shenzhen A-share highly polluting industries from 2018 to 2022 as samples, this paper studies the relationship between the level of social responsibility fulfillment, carbon information disclosure, and enterprise value, and makes an empirical analysis. This research finds that social responsibility has a significant positive impact on enterprise value; carbon information disclosure has a significant positive impact on enterprise value; and carbon information disclosure plays a significant positive regulating role in the relationship between social responsibility and enterprise value. Finally, according to the research results, this paper puts forward relevant suggestions from two perspectives: enterprise and government.

Suggested Citation

  • Feng Shi & Yuan Wang, 2024. "Corporate Social Responsibility, Carbon Information Disclosure, and Enterprise Value: A Study of Listed Companies in China’s Highly Polluting Industries," IJFS, MDPI, vol. 12(3), pages 1-23, July.
    • Handle: RePEc:gam:jijfss:v:12:y:2024:i:3:p:66-:d:1428361
    as

    Download full text from publisher

    File URL: https://www.mdpi.com/2227-7072/12/3/66/pdf
    Download Restriction: no
    File URL: https://www.mdpi.com/2227-7072/12/3/66/
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Albert Tsang & Kun Tracy Wang & Yue Wu & Jeff Lee, 2024. "Nonfinancial Corporate Social Responsibility Reporting and Firm Value: International Evidence on the Role of Financial Analysts," European Accounting Review, Taylor & Francis Journals, vol. 33(2), pages 399-434, March.
    2. Caroline Flammer, 2018. "Competing for government procurement contracts: The role of corporate social responsibility," Strategic Management Journal, Wiley Blackwell, vol. 39(5), pages 1299-1324, May.
    3. Jiang, Yan & Luo, Le & Xu, JianFeng & Shao, XiaoRui, 2021. "The value relevance of corporate voluntary carbon disclosure: Evidence from the United States and BRIC countries," Journal of Contemporary Accounting and Economics, Elsevier, vol. 17(3).
    4. Siddique, Md Abubakar & Akhtaruzzaman, Md & Rashid, Afzalur & Hammami, Helmi, 2021. "Carbon disclosure, carbon performance and financial performance: International evidence," International Review of Financial Analysis, Elsevier, vol. 75(C).
    5. Lopin Kuo & Chin‐Chen Yeh & Hui‐Cheng Yu, 2012. "Disclosure of Corporate Social Responsibility and Environmental Management: Evidence from China," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 19(5), pages 273-287, September.
    6. Louise Tourigny & Jian Han & Vishwanath V. Baba & Polly Pan, 2019. "Ethical Leadership and Corporate Social Responsibility in China: A Multilevel Study of Their Effects on Trust and Organizational Citizenship Behavior," Journal of Business Ethics, Springer, vol. 158(2), pages 427-440, August.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Yuyuan Chang & Wen He & Jianling Wang, 2021. "Government Initiated Corporate Social Responsibility Activities: Evidence from a Poverty Alleviation Campaign in China," Journal of Business Ethics, Springer, vol. 173(4), pages 661-685, November.
    2. Liu, Zhibin & Wu, Jiayin, 2024. "Evaluation index system for carbon information disclosure quality in China's electric power sector based on a mutual information and back propagation neural network model," Utilities Policy, Elsevier, vol. 89(C).
    3. Ma, Xuejiao & Che, Tianqi & Sun, Xiaohua, 2024. "A carbon information disclosure perspective on carbon premium: Evidence from China," Journal of Business Research, Elsevier, vol. 173(C).
    4. Qingxia (Jenny) Wang, 2023. "Financial effects of carbon risk and carbon disclosure: A review," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 63(4), pages 4175-4219, December.
    5. Zhen Li & Yitong Sun & Jinhao Liu & Yi Li & Zhifang Zhou, 2024. "Corporate violations and bank debt cost: The insurance effect of corporate social responsibility," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 31(5), pages 4487-4503, September.
    6. Helfaya, Akrum & Aboud, Ahmed & Amin, Essam, 2023. "An examination of corporate environmental goals disclosure, sustainability performance and firm value – An Egyptian evidence," Journal of International Accounting, Auditing and Taxation, Elsevier, vol. 52(C).
    7. Yi Liu & Wenqian Li & Yuan Li, 2020. "Ambidexterity between low cost strategy and CSR strategy: contingencies of competition and regulation," Asia Pacific Journal of Management, Springer, vol. 37(3), pages 633-660, September.
    8. Lei Zhou & Feng Wei & Yu Kong, 2022. "Do Employee Stock Ownership Plans Affect Corporate Social Responsibility? Evidence from China," IJERPH, MDPI, vol. 19(3), pages 1-19, January.
    9. Anthony Goerzen & Michael Sartor & Kristin Brandl & Stacey Fitzsimmons, 2023. "Widening the lens: Multilevel drivers of firm corporate social performance," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 54(1), pages 42-60, February.
    10. Nematollah Shiri & Vahid Jafari‐Sadeghi, 2023. "Corporate social responsibility and green behaviour: Towards sustainable food‐business development," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 30(2), pages 605-620, March.
    11. Doğru Çağlar, 2021. "The Effects of Electronic Surveillance on Job Tension, Task Performance and Organizational Trust," Business Systems Research, Sciendo, vol. 12(2), pages 125-143, December.
    12. Xue-Zhou Zhao & Jun Chen & Feng-Wen Chen & Wei Wang & Senmao Xia, 2020. "How High-Polluting Firms Suffer from Being Distracted form Intended Purpose: A Corporate Social Responsibility Perspective," IJERPH, MDPI, vol. 17(24), pages 1-29, December.
    13. Saskia Crucke & Marie Servaes & Tom Kluijtmans & Shana Mertens & Eveline Schollaert, 2022. "Linking environmentally‐specific transformational leadership and employees' green advocacy: The influence of leadership integrity," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 29(2), pages 406-420, March.
    14. Thi Cam Tu Luong & Ann Jorissen & Ine Paeleman, 2019. "Performance Measurement for Sustainability: Does Firm Ownership Matter," Sustainability, MDPI, vol. 11(16), pages 1-35, August.
    15. Dusko Ursic & Andrej Smogavc Cestar, 2022. "Crisis Management and CSR in Slovenian Companies: The Impact of the COVID-19 Pandemic," Sustainability, MDPI, vol. 14(5), pages 1-16, February.
    16. Greiner, Michael & Kim, Jaemin & Cordon Thor, Jennifer, 2023. "Narcissistic CEOs and their corporate political activity," Journal of Business Research, Elsevier, vol. 163(C).
    17. Maogang Tang & Silu Cheng & Wenqing Guo & Weibiao Ma & Fengxia Hu, 2023. "Relationship between carbon emission trading schemes and companies’ total factor productivity: evidence from listed companies in China," Environment, Development and Sustainability: A Multidisciplinary Approach to the Theory and Practice of Sustainable Development, Springer, vol. 25(10), pages 11735-11767, October.
    18. Michael Neel & Irfan Safdar, 2024. "Financial statement relevance, representational faithfulness, and comparability," Review of Quantitative Finance and Accounting, Springer, vol. 62(1), pages 309-339, January.
    19. Bilal Afsar & Waheed Ali Umrani, 2020. "Corporate social responsibility and pro‐environmental behavior at workplace: The role of moral reflectiveness, coworker advocacy, and environmental commitment," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 27(1), pages 109-125, January.
    20. Ma Zhong & Rong Xu & Xinyi Liao & Shuangli Zhang, 2019. "Do CSR Ratings Converge in China? A Comparison Between RKS and Hexun Scores," Sustainability, MDPI, vol. 11(14), pages 1-20, July.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:gam:jijfss:v:12:y:2024:i:3:p:66-:d:1428361. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: MDPI Indexing Manager (email available below). General contact details of provider: https://www.mdpi.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.