Corporate carbon emissions disclosure and stock price informativeness

Shuo Dai and Yonghe Sun

Finance Research Letters, 2025, vol. 73, issue C

Abstract: Against the backdrop of heightened public awareness of environmental issues and climate change, this study examines the implication of corporate carbon emissions disclosure for stock price informativeness. Taking advantage of a research sample of listed firms in China from 2011 to 2022, this research presents robust evidence that carbon emissions disclosure is positively correlated with the information content included in stock prices. This relationship is weaker among non-manufacturing firms and firms with strong internal monitoring. Our findings hold across multiple econometric tests. In summary, this study contributes to the literature on sustainability and stock price informativeness.

Keywords: Carbon emissions; Stock price informativeness; Disclosure; Transparency (search for similar items in EconPapers)
Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:eee:finlet:v:73:y:2025:i:c:s1544612324016805

DOI: 10.1016/j.frl.2024.106651

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