Stock market reactions to environmental disclosures: new evidence from China

Hui Zhou and Haitao Yin

Applied Economics Letters, 2018, vol. 25, issue 13, 910-913

Abstract: We study how the stock market in China responds to announcements by an environmental risk index and find that China’s stock market penalizes firms associated with unfavourable environmental news if the information is provided directly to investors in a manner that is easily understood. We also find that the negative impact on stock prices fades after multiple disclosures of the same information.

Date: 2018
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DOI: 10.1080/13504851.2017.1383590

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