The value relevance of nonfinancial disclosure: Evidence from foreign equity investment

Yogesh Chauhan and Surya Bhushan Kumar

Journal of Multinational Financial Management, 2019, vol. 52-53

Abstract: We investigate the effect of Environmental, Social, Governance (ESG)-related disclosure on foreign investments for Indian firms where financial reporting does not provide adequate and reliable information. We show a preference of foreign investors for firms disclosing ESG-related information. Our results suggest that ESG-related disclosure is particularly useful for firms facing information problems. Finally, we report that the effect of ESG-related disclosure is lesser on domestic investors.

Keywords: The nonfinancial disclosure; ESG; Foreign investments; The emerging market; India (search for similar items in EconPapers)
JEL-codes: G30 G32 M41 (search for similar items in EconPapers)
Date: 2019
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Citations: View citations in EconPapers (5)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:mulfin:v:52-53:y:2019:i::s1042444x19301331

DOI: 10.1016/j.mulfin.2019.100595

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