IDEAS home Printed from https://ideas.repec.org/a/wly/corsem/v31y2024i5p3940-3967.html
   My bibliography  Save this article

Financing sustainability: How environmental disclosures shape bank lending decisions in emerging markets

Author

Listed:
  • Zhiyang Hui
  • Haoyu Li
  • Ahmed A. Elamer

Abstract

As global awareness of environmental responsibilities intensifies, the significance of corporate Environmental information disclosure (EID) in decision‐making becomes increasingly prominent. However, its influence on bank lending decisions, especially in emerging markets like China, remains debated. Using 27,095 firm‐year observations between 2008 and 2020, this study examines the impact of both voluntary and mandatory EID on bank lending decisions. Findings indicate that banks incorporate EID into their lending decisions, offering favorable bank loan terms, both in terms of size and costs to firms with strong EID. To mitigate endogeneity concerns, we employ propensity score matching and a difference‐in‐difference methodology grounded in China's newly amended Environmental Protection Law, with consistent results across both tests. Our research identifies two possible economic mechanisms to explain why EID influences bank loan features: EID's potential to reduce firm‐specific risks and its alignment with local governmental incentives for green finance. Furthermore, our research suggests that voluntary EID, previously overlooked, proves more valuable than mandatory EID. We also find that the effectiveness of EID relies on banks' evaluations of the firm's sincerity and incentives behind the disclosure. Banks show a preference for voluntary EID from firms with minimal adverse selection concerns and mandatory EID from those highly motivated to disclose voluntarily. Moreover, we identify a synergy between EID and bank loans in fostering green innovation. This research not only bridges gaps in the existing bank financing literature but also offers insights into how EID can drive sustainable economic activities in developing economies.

Suggested Citation

  • Zhiyang Hui & Haoyu Li & Ahmed A. Elamer, 2024. "Financing sustainability: How environmental disclosures shape bank lending decisions in emerging markets," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 31(5), pages 3940-3967, September.
    • Handle: RePEc:wly:corsem:v:31:y:2024:i:5:p:3940-3967
    DOI: 10.1002/csr.2789
    as

    Download full text from publisher

    File URL: https://doi.org/10.1002/csr.2789
    Download Restriction: no
    File URL: https://libkey.io/10.1002/csr.2789?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Allen, Franklin & Qian, Jun & Qian, Meijun, 2005. "Law, finance, and economic growth in China," Journal of Financial Economics, Elsevier, vol. 77(1), pages 57-116, July.
    2. Qiu, Yan & Shaukat, Amama & Tharyan, Rajesh, 2016. "Environmental and social disclosures: Link with corporate financial performance," The British Accounting Review, Elsevier, vol. 48(1), pages 102-116.
    3. Cull, Robert & Li, Wei & Sun, Bo & Xu, Lixin Colin, 2015. "Government connections and financial constraints: Evidence from a large representative sample of Chinese firms," Journal of Corporate Finance, Elsevier, vol. 32(C), pages 271-294.
    4. Konar, Shameek & Cohen, Mark A., 1997. "Information As Regulation: The Effect of Community Right to Know Laws on Toxic Emissions," Journal of Environmental Economics and Management, Elsevier, vol. 32(1), pages 109-124, January.
    5. Boyer, Marcel & Laffont, Jean-Jacques, 1997. "Environmental risks and bank liability," European Economic Review, Elsevier, vol. 41(8), pages 1427-1459, August.
    6. Mounia Boulhaga & Abdelfettah Bouri & Ahmed A. Elamer & Bassam A. Ibrahim, 2023. "Environmental, social and governance ratings and firm performance: The moderating role of internal control quality," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 30(1), pages 134-145, January.
    7. Yi Zhang, 2022. "Analyst coverage and corporate social responsibility decoupling: Evidence from China," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 29(3), pages 620-634, May.
    8. Cline, Brandon N. & Fu, Xudong & Tang, Tian, 2020. "Shareholder investment horizons and bank debt financing," Journal of Banking & Finance, Elsevier, vol. 110(C).
    9. Paul A. Griffin & Yuan Sun & Steven Cahan, 2013. "Strange bedfellows? Voluntary corporate social responsibility disclosure and politics," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 53(4), pages 867-903, December.
    10. Ole‐Kristian Hope, 2003. "Disclosure Practices, Enforcement of Accounting Standards, and Analysts' Forecast Accuracy: An International Study," Journal of Accounting Research, Wiley Blackwell, vol. 41(2), pages 235-272, May.
    11. Xingqiang Du & Jianying Weng & Quan Zeng & Yingying Chang & Hongmei Pei, 2017. "Do Lenders Applaud Corporate Environmental Performance? Evidence from Chinese Private-Owned Firms," Journal of Business Ethics, Springer, vol. 143(1), pages 179-207, June.
    12. Kazemi, Maha Zadeh & Elamer, Ahmed A. & Theodosopoulos, Grigorios & Khatib, Saleh F.A., 2023. "Reinvigorating research on sustainability reporting in the construction industry: A systematic review and future research agenda," Journal of Business Research, Elsevier, vol. 167(C).
    13. Zhao, Hongxin & Lu, Jiangyong, 2016. "Contingent value of political capital in bank loan acquisition: Evidence from founder-controlled private enterprises in China," Journal of Business Venturing, Elsevier, vol. 31(2), pages 153-174.
    14. Carey, Peter & Liu, Li & Qu, Wen, 2017. "Voluntary corporate social responsibility reporting and financial statement auditing in China," Journal of Contemporary Accounting and Economics, Elsevier, vol. 13(3), pages 244-262.
    15. Fernando, Chitru S. & Sharfman, Mark P. & Uysal, Vahap B., 2017. "Corporate Environmental Policy and Shareholder Value: Following the Smart Money," Journal of Financial and Quantitative Analysis, Cambridge University Press, vol. 52(5), pages 2023-2051, October.
    16. Fan Xia & Jiaying Chen & Xue Yang & Xiaoliang Li & Bing Zhang, 2023. "Financial constraints and corporate greenwashing strategies in China," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 30(4), pages 1770-1781, July.
    17. Chia‐Chi Lee & Shih‐Yun Kuo & Huang‐Hsiung Hsu & Tung‐Li Mo & En‐Yu Chang & Kuan‐Chun Huang, 2023. "How does the research community contribute to corporate climate‐related risk disclosures? The gap between ideals and reality," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 30(2), pages 927-940, March.
    18. Jorge A. Romero & Martin Freedman & Neale G. O'Connor, 2018. "The impact of Environmental Protection Agency penalties on financial performance," Business Strategy and the Environment, Wiley Blackwell, vol. 27(8), pages 1733-1740, December.
    19. Guochang Zhang, 2001. "Private Information Production, Public Disclosure, and the Cost of Capital: Theory and Implications," Contemporary Accounting Research, John Wiley & Sons, vol. 18(2), pages 363-384, June.
    20. Baiman, S & Verrecchia, RE, 1996. "The relation among capital markets, financial disclosure, production efficiency, and insider trading," Journal of Accounting Research, Wiley Blackwell, vol. 34(1), pages 1-22.
    21. Xing, Chao & Zhang, Yuming & Tripe, David, 2021. "Green credit policy and corporate access to bank loans in China: The role of environmental disclosure and green innovation," International Review of Financial Analysis, Elsevier, vol. 77(C).
    22. Zixin Zhang & Teck Lee Yap & Jiyoung Park, 2021. "Does voluntary CSR disclosure and CSR performance influence earnings management? Empirical evidence from China," International Journal of Disclosure and Governance, Palgrave Macmillan, vol. 18(2), pages 161-178, June.
    23. Mark T. Leary, 2009. "Bank Loan Supply, Lender Choice, and Corporate Capital Structure," Journal of Finance, American Finance Association, vol. 64(3), pages 1143-1185, June.
    24. Francesco Gangi & Lucia Michela Daniele & Eugenio D'Angelo & Nicola Varrone & Maria Coscia, 2023. "The impact of board gender diversity on banks' environmental policy: The moderating role of gender inequality in national culture," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 30(3), pages 1273-1291, May.
    25. Nicola Raimo & Alessandra Caragnano & Marianna Zito & Filippo Vitolla & Massimo Mariani, 2021. "Extending the benefits of ESG disclosure: The effect on the cost of debt financing," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 28(4), pages 1412-1421, July.
    26. Jorge A. Arevalo & Deepa Aravind, 2017. "Strategic Outcomes in Voluntary CSR: Reporting Economic and Reputational Benefits in Principles-Based Initiatives," Journal of Business Ethics, Springer, vol. 144(1), pages 201-217, August.
    27. Laura Sierra‐García & Ana Zorio‐Grima & María A. García‐Benau, 2015. "Stakeholder Engagement, Corporate Social Responsibility and Integrated Reporting: An Exploratory Study," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 22(5), pages 286-304, September.
    28. Fang, Zhenming & Kong, Xiaoran & Sensoy, Ahmet & Cui, Xin & Cheng, Feiyang, 2021. "Government’s awareness of Environmental protection and corporate green innovation: A natural experiment from the new environmental protection law in China," Economic Analysis and Policy, Elsevier, vol. 70(C), pages 294-312.
    29. Thomas E. Schneider, 2011. "Is Environmental Performance a Determinant of Bond Pricing? Evidence from the U.S. Pulp and Paper and Chemical Industries," Contemporary Accounting Research, John Wiley & Sons, vol. 28(5), pages 1537-1561, December.
    30. Freedman, Martin & Jaggi, Bikki, 2005. "Global warming, commitment to the Kyoto protocol, and accounting disclosures by the largest global public firms from polluting industries," The International Journal of Accounting, Elsevier, vol. 40(3), pages 215-232.
    31. Finger, Maya & Gavious, Ilanit & Manos, Ronny, 2018. "Environmental risk management and financial performance in the banking industry: A cross-country comparison," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 52(C), pages 240-261.
    32. Oleksandr Talavera & Lin Xiong & Xiong Xiong, 2012. "Social Capital and Access to Bank Financing: The Case of Chinese Entrepreneurs," Emerging Markets Finance and Trade, Taylor & Francis Journals, vol. 48(1), pages 55-69, January.
    33. Glenn Milligan & Martha Cooper, 1988. "A study of standardization of variables in cluster analysis," Journal of Classification, Springer;The Classification Society, vol. 5(2), pages 181-204, September.
    34. Grossman, Sanford J, 1981. "The Informational Role of Warranties and Private Disclosure about Product Quality," Journal of Law and Economics, University of Chicago Press, vol. 24(3), pages 461-483, December.
    35. Mohamed H. Elmagrhi & Collins G. Ntim & Ahmed A. Elamer & Qingjing Zhang, 2019. "A study of environmental policies and regulations, governance structures, and environmental performance: The role of female directors," Business Strategy and the Environment, Wiley Blackwell, vol. 28(1), pages 206-220, January.
    36. Leuz, C & Verrecchia, RE, 2000. "The economic consequences of increased disclosure," Journal of Accounting Research, Wiley Blackwell, vol. 38, pages 91-124.
    37. Qi Chen & Itay Goldstein & Wei Jiang, 2007. "Price Informativeness and Investment Sensitivity to Stock Price," The Review of Financial Studies, Society for Financial Studies, vol. 20(3), pages 619-650.
    38. Brandt, Loren & Li, Hongbin, 2003. "Bank discrimination in transition economies: ideology, information, or incentives?," Journal of Comparative Economics, Elsevier, vol. 31(3), pages 387-413, September.
    39. Glosten, Lawrence R. & Milgrom, Paul R., 1985. "Bid, ask and transaction prices in a specialist market with heterogeneously informed traders," Journal of Financial Economics, Elsevier, vol. 14(1), pages 71-100, March.
    40. Ahmad Yuosef Alodat & Zalailah Salleh & Haitham Nobanee & Hafiza Aishah Hashim, 2023. "Board gender diversity and firm performance: The mediating role of sustainability disclosure," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 30(4), pages 2053-2065, July.
    41. Cho, Charles H. & Patten, Dennis M., 2007. "The role of environmental disclosures as tools of legitimacy: A research note," Accounting, Organizations and Society, Elsevier, vol. 32(7-8), pages 639-647.
    42. Carmelo Reverte, 2012. "The Impact of Better Corporate Social Responsibility Disclosure on the Cost of Equity Capital," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 19(5), pages 253-272, September.
    43. Huifeng Xu & Xiaodong Xu & Junli Yu, 2021. "The Impact of Mandatory CSR Disclosure on the Cost of Debt Financing: Evidence from China," Emerging Markets Finance and Trade, Taylor & Francis Journals, vol. 57(8), pages 2191-2205, June.
    44. Chen, Yunling & Liu, Ming & Su, Jun, 2013. "Greasing the wheels of bank lending: Evidence from private firms in China," Journal of Banking & Finance, Elsevier, vol. 37(7), pages 2533-2545.
    45. Diamond, Douglas W & Verrecchia, Robert E, 1991. "Disclosure, Liquidity, and the Cost of Capital," Journal of Finance, American Finance Association, vol. 46(4), pages 1325-1359, September.
    46. Xue Wang & Feng Cao & Kangtao Ye, 2018. "Mandatory Corporate Social Responsibility (CSR) Reporting and Financial Reporting Quality: Evidence from a Quasi-Natural Experiment," Journal of Business Ethics, Springer, vol. 152(1), pages 253-274, September.
    47. Al-Tuwaijri, Sulaiman A. & Christensen, Theodore E. & Hughes, K. II, 2004. "The relations among environmental disclosure, environmental performance, and economic performance: a simultaneous equations approach," Accounting, Organizations and Society, Elsevier, vol. 29(5-6), pages 447-471.
    48. Xue Tan & Miaowei Peng & Jingwei Yin & Zongfeng Xiu, 2022. "Does Local Governments’ Environmental Information Disclosure Promote Corporate Green Innovations?," Emerging Markets Finance and Trade, Taylor & Francis Journals, vol. 58(11), pages 3164-3176, September.
    49. Chen, Yi-Chun & Hung, Mingyi & Wang, Yongxiang, 2018. "The effect of mandatory CSR disclosure on firm profitability and social externalities: Evidence from China," Journal of Accounting and Economics, Elsevier, vol. 65(1), pages 169-190.
    50. Syeliya Md Zaini & Grant Samkin & Umesh Sharma & Howard Davey, 2018. "Voluntary disclosure in emerging countries: a literature review," Journal of Accounting in Emerging Economies, Emerald Group Publishing Limited, vol. 8(1), pages 29-65, February.
    51. Healy, Paul M. & Palepu, Krishna G., 2001. "Information asymmetry, corporate disclosure, and the capital markets: A review of the empirical disclosure literature," Journal of Accounting and Economics, Elsevier, vol. 31(1-3), pages 405-440, September.
    52. Jennifer Francis & Dhananjay Nanda & Per Olsson, 2008. "Voluntary Disclosure, Earnings Quality, and Cost of Capital," Journal of Accounting Research, Wiley Blackwell, vol. 46(1), pages 53-99, March.
    53. Yu-Shan Chen & Shyh-Bao Lai & Chao-Tung Wen, 2006. "The Influence of Green Innovation Performance on Corporate Advantage in Taiwan," Journal of Business Ethics, Springer, vol. 67(4), pages 331-339, September.
    54. Lan Gao & Liang Wan, 2023. "Does corporate environmental responsibility contribute to financial performance? A dual path analysis through operational efficiency and the cost of debt," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 30(1), pages 308-323, January.
    55. Jin-hui Luo & Zeyue Huang & Xue Li & Xiaojing Lin, 2018. "Are Women CEOs Valuable in Terms of Bank Loan Costs? Evidence from China," Journal of Business Ethics, Springer, vol. 153(2), pages 337-355, December.
    56. Campbell, David & Slack, Richard, 2011. "Environmental disclosure and environmental risk: Sceptical attitudes of UK sell-side bank analysts," The British Accounting Review, Elsevier, vol. 43(1), pages 54-64.
    57. Edward I. Altman, 1968. "Financial Ratios, Discriminant Analysis And The Prediction Of Corporate Bankruptcy," Journal of Finance, American Finance Association, vol. 23(4), pages 589-609, September.
    58. Achraf Guidara & Hichem Khlif & Anis Jarboui, 2014. "Voluntary and timely disclosure and the cost of debt: South African evidence," Meditari Accountancy Research, Emerald Group Publishing Limited, vol. 22(2), pages 149-164, November.
    59. Boqiang Lin & Qianxiang Zhang, 2023. "Corporate environmental responsibility in polluting firms: Does digital transformation matter?," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 30(5), pages 2234-2246, September.
    60. Mohan Fonseka & Theja Rajapakse & Gao‐Liang Tian, 2019. "The Effects of Environmental Information Disclosure and Energy Types on the Cost of Equity: Evidence from the Energy Industry in China," Abacus, Accounting Foundation, University of Sydney, vol. 55(2), pages 362-410, June.
    61. Ibrahem Alshbili & Ahmed A. Elamer & Maha W. Moustafa, 2021. "Social and environmental reporting, sustainable development and institutional voids: Evidence from a developing country," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 28(2), pages 881-895, March.
    62. Feng Wang & Siyue Yang & Ann Reisner & Na Liu, 2019. "Does Green Credit Policy Work in China? The Correlation between Green Credit and Corporate Environmental Information Disclosure Quality," Sustainability, MDPI, vol. 11(3), pages 1-15, January.
    63. Fuxiu Jiang & Kenneth A Kim, 2020. "Corporate Governance in China: A Survey [The role of boards of directors in corporate governance: a conceptual framework and survey]," Review of Finance, European Finance Association, vol. 24(4), pages 733-772.
    64. Clarkson, Peter M. & Li, Yue & Richardson, Gordon D. & Vasvari, Florin P., 2008. "Revisiting the relation between environmental performance and environmental disclosure: An empirical analysis," Accounting, Organizations and Society, Elsevier, vol. 33(4-5), pages 303-327.
    65. Filippo Vitolla & Nicola Raimo & Michele Rubino & Antonello Garzoni, 2019. "How pressure from stakeholders affects integrated reporting quality," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 26(6), pages 1591-1606, November.
    66. Addoum, Jawad M. & Ng, David T. & Ortiz-Bobea, Ariel, 2023. "Temperature shocks and industry earnings news," Journal of Financial Economics, Elsevier, vol. 150(1), pages 1-45.
    67. Jannik Gerwanski, 2020. "Does it pay off? Integrated reporting and cost of debt: European evidence," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 27(5), pages 2299-2319, September.
    68. Rosa Chun, 2009. "Ethical Values and Environmentalism in China: Comparing Employees from State-Owned and Private Firms," Journal of Business Ethics, Springer, vol. 84(3), pages 341-348, February.
    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. Qiang Li & Wenjuan Ruan & Huimin Shi & Erwei Xiang & Feida (Frank) Zhang, 2022. "Corporate environmental information disclosure and bank financing: Moderating effect of formal and informal institutions," Business Strategy and the Environment, Wiley Blackwell, vol. 31(7), pages 2931-2946, November.
    2. Raf Orens & Walter Aerts & Denis Cormier, 2010. "Web‐Based Non‐Financial Disclosure and Cost of Finance," Journal of Business Finance & Accounting, Wiley Blackwell, vol. 37(9‐10), pages 1057-1093, November.
    3. Cao, Feng & Peng, Songlan (Stella) & Ye, Kangtao, 2019. "Multiple large shareholders and corporate social responsibility reporting," Emerging Markets Review, Elsevier, vol. 38(C), pages 287-309.
    4. Beyer, Anne & Cohen, Daniel A. & Lys, Thomas Z. & Walther, Beverly R., 2010. "The financial reporting environment: Review of the recent literature," Journal of Accounting and Economics, Elsevier, vol. 50(2-3), pages 296-343, December.
    5. Ho, Kung-Cheng & Yang, Lu & Luo, Sijia, 2022. "Information disclosure ratings and continuing overreaction: Evidence from the Chinese capital market," Journal of Business Research, Elsevier, vol. 140(C), pages 638-656.
    6. Nicola Raimo & Alessandra Caragnano & Marianna Zito & Filippo Vitolla & Massimo Mariani, 2021. "Extending the benefits of ESG disclosure: The effect on the cost of debt financing," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 28(4), pages 1412-1421, July.
    7. Vitiana L'Abate & Nicola Raimo & Benedetta Esposito & Filippo Vitolla, 2024. "Examining the impact of circular economy disclosure on the cost of debt: A signaling theory approach via social media," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 31(5), pages 4007-4019, September.
    8. Tsang, Albert & Frost, Tracie & Cao, Huijuan, 2023. "Environmental, Social, and Governance (ESG) disclosure: A literature review," The British Accounting Review, Elsevier, vol. 55(1).
    9. Kuo Zhou & Xianghui Jin & Xinru Li & Yunqing Tao, 2024. "Enhancing sustainable development through effective disclosure: Corporate environmental performance and readability," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 31(1), pages 274-291, January.
    10. Yang Stephanie Liu & Xiaoyan Zhou & Jessica Yang & Andreas Hoepner, 2016. "Corporate Carbon Emission and Financial Performance: Does Carbon Disclosure Mediate the Relationship in the UK?," ICMA Centre Discussion Papers in Finance icma-dp2016-03, Henley Business School, University of Reading.
    11. Chauhan, Yogesh & Kumar, Surya B., 2018. "Do investors value the nonfinancial disclosure in emerging markets?," Emerging Markets Review, Elsevier, vol. 37(C), pages 32-46.
    12. Shan Zhou & Roger Simnett & Wendy Green, 2017. "Does Integrated Reporting Matter to the Capital Market?," Abacus, Accounting Foundation, University of Sydney, vol. 53(1), pages 94-132, March.
    13. Jennifer Francis & Dhananjay Nanda & Per Olsson, 2008. "Voluntary Disclosure, Earnings Quality, and Cost of Capital," Journal of Accounting Research, Wiley Blackwell, vol. 46(1), pages 53-99, March.
    14. Lopin Kuo & Po-Wen Kuo & Chun-Chih Chen, 2021. "Mandatory CSR Disclosure, CSR Assurance, and the Cost of Debt Capital: Evidence from Taiwan," Sustainability, MDPI, vol. 13(4), pages 1-19, February.
    15. García-Sánchez, Isabel-María & Noguera-Gámez, Ligia, 2017. "Integrated information and the cost of capital," International Business Review, Elsevier, vol. 26(5), pages 959-975.
    16. Lu Zhang & Yuan George Shan & Millicent Chang, 2021. "Can CSR Disclosure Protect Firm Reputation During Financial Restatements?," Journal of Business Ethics, Springer, vol. 173(1), pages 157-184, September.
    17. Wang, Fengrong & Mbanyele, William & Muchenje, Linda, 2022. "Economic policy uncertainty and stock liquidity: The mitigating effect of information disclosure," Research in International Business and Finance, Elsevier, vol. 59(C).
    18. Finja Lena Kind & Jennifer Zeppenfeld & Rainer Lueg, 2023. "The impact of chief executive officer narcissism on environmental, social, and governance reporting," Business Strategy and the Environment, Wiley Blackwell, vol. 32(7), pages 4448-4466, November.
    19. Denis Cormier & Marie-Josée Ledoux & Michel Magnan, 2010. "The Informational Contribution of Social and Environmental Disclosures for Investors," Post-Print hal-00481571, HAL.
    20. Denis Cormier & Walter Aerts & Marie‐Josée Ledoux & Michel Magnan, 2010. "Web‐Based Disclosure About Value Creation Processes: A Monitoring Perspective," Abacus, Accounting Foundation, University of Sydney, vol. 46(3), pages 320-347, September.

    More about this item

    Statistics

    Access and download statistics

    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:wly:corsem:v:31:y:2024:i:5:p:3940-3967. 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: Wiley Content Delivery (email available below). General contact details of provider: https://doi.org/10.1002/(ISSN)1535-3966 .

    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.