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http://hdl.handle.net/10397/74106
Title: | Voluntary disclosure, greenhouse gas emissions and business performance : assessing the first decade of reporting | Authors: | Broadstock, DC Collins, A Hunt, LC Vergos, K |
Issue Date: | 2016 | Source: | British accounting review, 2016, p. 2 | Abstract: | This study explores the empirical relationships between GHG emissions and an extensive range of business performance measures for UK FTSE-350 listed firms over the first decade or so of such reporting. Despite the popular and policy generated environmental imperatives over this period-along with growing evidence of the corporate added-value of having an 'environmental conscience', voluntary disclosure of emissions has been slow to adopt by firms. The leading contribution is to present clear evidence of a non-linear relationship, initially increasing with firm performance and then decreasing. An extensive pattern of non-reporting of emissions is also observed over time, and prior literature has introduced questions of endogeneity existing between firm performance and emissions. Steps are taken to ensure confidence/robustness of the results to these concerns. Accordingly, a two-stage (Heckman-type) selection model is used to analyse the emissions-performance nexus conditional upon the firm choosing to report (i.e. treating the choice to report as being endogenously determined with firm performance). From this-in addition to confirming the robustness of the non-linear relationship-it can be observed that the decision to report emissions is not directly influenced by wider social/governance disclosure attitudes of a firm, thus suggesting that firms disassociate environmental responsibility from social responsibility. | Keywords: | Business performance Carbon emissions Environmental reporting Non-linear effect Voluntary disclosure |
Publisher: | Academic Press | Journal: | British accounting review | ISSN: | 0890-8389 | EISSN: | 1095-8347 | DOI: | 10.1016/j.bar.2017.02.002 | Rights: | © 2017 The Authors. Published by Elsevier Ltd. This is an open access article under the CC BY license (http://creativecommons.org/licenses/by/4.0/). |
Appears in Collections: | Journal/Magazine Article |
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