A cross-country analysis of corporate carbon performance: An international investment perspective

Louis T.W. Cheng, Jianfu Shen and Michal Wojewodzki

Research in International Business and Finance, 2023, vol. 64, issue C

Abstract: In this study, we examine corporate carbon performance globally from the perspective of country-level dispersion. The average carbon performance of listed companies in the non-OECD countries increases more after the Paris Agreement than that of listed companies in the OECD countries. However, under an increasing trend of average country-level carbon performance, the dispersion of corporate carbon performance is reduced more in the OECD countries vis-à-vis the non-OECD countries. In addition, international equity ownership is negatively associated with the dispersion of country-level corporate carbon performance in the post-Paris Agreement period. This finding supports our conjecture that sophisticated foreign investors from developed countries exert a significant positive influence on the carbon management efficiency of domestic firms in developing countries.

Keywords: ESG; Carbon Performance; International ownership; OECD (search for similar items in EconPapers)
JEL-codes: F64 G15 O16 Q01 Q56 (search for similar items in EconPapers)
Date: 2023
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (3)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:riibaf:v:64:y:2023:i:c:s0275531923000144

DOI: 10.1016/j.ribaf.2023.101888

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