Accounting Values and Corporate Environmental Disclosures: Some International Evidence

Tesfaye T. Lemma, Mohammad Tavakolifar and Lan Anh Nguyen

Business Strategy and the Environment, 2025, vol. 34, issue 8, 11036-11059

Abstract: We examine the association between accounting values and corporate environmental disclosures (CEDs) using an expanded version of the Hofstede–Gray framework. Analyzing 10,041 firm‐year observations from 42 countries, over the period 2015–2019, we find that this association is contingent on whether a firm operates in an environmentally sensitive (ESI) or nonenvironmentally sensitive (non‐ESI) industry. Specifically, for ESI firms, the accounting values of conservatism, secrecy, and uniformity are negatively associated with CEDs, whereas professionalism shows a positive association. In contrast, these associations are reversed for non‐ESI firms. The findings highlight the importance of industry‐specific factors in moderating the influence of accounting values on environmental disclosure practices. The study offers relevant insights for policymakers, regulators, and environmental advocates by underscoring the need to consider both accounting values and industry characteristics in shaping environmental reporting.

Date: 2025
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