Brand Premium and Carbon Information Disclosure Strategy: Evidence from China Listed Companies

Diandian Ma, Benfu Lv, Ying Liu, Shuqin Liu () and Xiuting Li
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Diandian Ma: School of Economics and Management, University of Chinese Academy of Sciences, Beijing 100190, China
Benfu Lv: School of Economics and Management, University of Chinese Academy of Sciences, Beijing 100190, China
Ying Liu: School of Economics and Management, University of Chinese Academy of Sciences, Beijing 100190, China
Shuqin Liu: School of Management, Minzu University of China, Beijing 100081, China
Xiuting Li: School of Economics and Management, University of Chinese Academy of Sciences, Beijing 100190, China

Sustainability, 2023, vol. 15, issue 6, 1-21

Abstract: 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.

Keywords: brand value; carbon information; disclosure strategy; analyst rating; customer attitude; financial performance (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 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 (1)

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