Journal
SUSTAINABILITY
Volume 15, Issue 6, Pages -Publisher
MDPI
DOI: 10.3390/su15065240
Keywords
brand value; carbon information; disclosure strategy; analyst rating; customer attitude; financial performance
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This study examines the impact of corporate carbon information disclosure on brand value and finds a positive association. The adoption of a more quantitative and diverse carbon information strategy also increases brand value. Higher analyst ratings and positive customer attitudes positively affect the relationship between the carbon information strategy and brand value, while corporate financial performance has weaker evidence.
Could the corporate carbon information disclosure strategy influence a firm's brand value, and how does corporate carbon information affect it? Previous research mainly examines the impact of ESG information disclosure on firm value and other financial indicators, but little research has focused on the effect of carbon information on brand value. This paper focuses on the influence of corporate carbon information disclosure on brand value, and we find that it positively impacts corporate brand value. In addition, when a company chooses to adopt a more quantitative and diverse carbon information strategy, it increases its brand value. We also examine the potential mechanisms involved in how corporate carbon information disclosure influences brand value. We focus on three types of factor: analyst rating, customer attitude, and corporate financial performance, and find that higher analyst forecasts and positive customer attitudes have a positive impact on the association between the carbon information strategy and corporate brand value. In contrast, corporate financial performance provides only weak evidence. These results are consistent with demands by users for more precise guidelines from regulators and standard-setters for measuring and disclosing carbon-related information.
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