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The impact of environmental, social, and governance disclosure on firm value: The role of CEO power

Li, Yiwei; Gong, Mengfeng; Zhang, Xiu-Ye; Koh, Lenny

Description

Using a large cross-sectional dataset comprising of FTSE 350 listed firms, this study investigates whether superior environmental, social and corporate governance (ESG) disclosure affects firm value. We find a positive association between ESG disclosure level and firm value, suggesting that improved transparency and accountability and enhanced stakeholder trust play a role in boosting firm value. We also report that higher CEO power enhances the ESG disclosure effect on firm value, indicating...[Show more]

CollectionsANU Research Publications
Date published: 2017
Type: Journal article
URI: http://hdl.handle.net/1885/139412
Source: The British Accounting Review
DOI: 10.1016/j.bar.2017.09.007

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