University of Surrey

Test tubes in the lab Research in the ATI Dance Research

Voluntary disclosure, greenhouse gas emissions and business performance: Assessing the first decade of reporting

Broadstock, DC, Collins, A, Hunt, Lester and Vergos, K (2017) Voluntary disclosure, greenhouse gas emissions and business performance: Assessing the first decade of reporting The British Accounting Review.

[img]
Preview
Text
2017BAR-InPress.pdf - Proof
Available under License : See the attached licence file.

Download (335kB) | Preview
[img]
Preview
PDF (licence)
SRI_deposit_agreement.pdf
Available under License : See the attached licence file.

Download (33kB) | Preview

Abstract

This study explores the empirical relationships between GHG emissions and an extensive range of business performance measures for UK FTSE-350 listed firms over the first decade or so of such reporting. Despite the popular and policy generated environmental imperatives over this perioddalong with growing evidence of the corporate added-value of having an ‘environmental conscience’, voluntary disclosure of emissions has been slow to adopt by firms. The leading contribution is to present clear evidence of a non-linear relationship, initially increasing with firm performance and then decreasing. An extensive pattern of non-reporting of emissions is also observed over time, and prior literature has introduced questions of endogeneity existing between firm performance and emissions. Steps are taken to ensure confidence/robustness of the results to these concerns. Accordingly, a two-stage (Heckman-type) selection model is used to analyse the emissions-performance nexus conditional upon the firm choosing to report (i.e. treating the choice to report as being endogenously determined with firm performance). From thisdin addition to confirming the robustness of the non-linear relationshipdit can be observed that the decision to report emissions is not directly influenced by wider social/ governance disclosure attitudes of a firm, thus suggesting that firms disassociate environmental responsibility from social responsibility.

Item Type: Article
Subjects : Economics
Divisions : Faculty of Arts and Social Sciences > School of Economics
Authors :
NameEmailORCID
Broadstock, DCUNSPECIFIEDUNSPECIFIED
Collins, AUNSPECIFIEDUNSPECIFIED
Hunt, LesterL.Hunt@surrey.ac.ukUNSPECIFIED
Vergos, KUNSPECIFIEDUNSPECIFIED
Date : 1 March 2017
Identification Number : 10.1016/j.bar.2017.02.002
Copyright Disclaimer : © 2017 The Authors. Published by Elsevier Ltd. This is an open access article under the CC BY license (http://creativecommons.org/licenses/by/4.0/).
Uncontrolled Keywords : Voluntary disclosure Carbon emissions Business performance Environmental reporting Non-linear effect
Depositing User : Symplectic Elements
Date Deposited : 02 May 2017 09:56
Last Modified : 13 Sep 2017 14:12
URI: http://epubs.surrey.ac.uk/id/eprint/814071

Actions (login required)

View Item View Item

Downloads

Downloads per month over past year


Information about this web site

© The University of Surrey, Guildford, Surrey, GU2 7XH, United Kingdom.
+44 (0)1483 300800