Managerial Corporate Governance Research Articles

A carbon information disclosure perspective on carbon premium: Evidence from China

This study advances the role of the characteristics of the signal environments, in particular carbon concerns and signaling costs, to explain variation in the carbon premium. Empirical evidence indicates that proactive carbon information disclosure acts as a positive market signal and can enhance stock returns, with disclosure quality further augmenting the carbon premium. While investor confidence serves as a mediating factor, the influence of debt financing costs remains constrained. Signal environments will moderate the carbon premium: in regions and industries with high carbon concerns, the carbon premium is strengthened significantly. Concurrently, smaller firms and those engaging in voluntary disclosure, characterized by elevated signaling costs, also have a higher carbon premium. Our research unravels the dynamics of the carbon premium through the lens of carbon information disclosure, offering invaluable insights for investor decision-making and managerial corporate governance.

Managerial Corporate Governance Communication

Corporate governance communication has steadily become more important as markets have globalised. On open markets, the specific report on economicfinancial disclosures supplements the communication system of companies, whose policies are founded strongly on integration, in order to tackle an economic context that is characterised by strong competitive dynamics and growing managerial complexity. Globalisation tends to underline the importance of corporate governance communication designed to assert a corporate culture of competitive confrontation, therefore emphasising communication and information flows, decision-making autonomy and operating accountability.