Environmental, Social and Governance Performance Disclosure and Market Value: Evidence from Jordan

Q2 Business, Management and Accounting

Business Perspectives and Research Pub Date : 2023-05-04 DOI:10.1177/22785337221148861

Hamzeh Al Amosh, S. F. Khatib

引用次数: 1

Abstract

Our article seeks to investigate the impact of ESG disclosure in its three dimensions, both collectively and individually, on the market value of Jordanian-listed companies from 2012 to 2019. Using a sample of 173 companies listed in ASE, 1,384 observations were collected. The findings indicate that environmental and social disclosure maximize companies’ market value, and the ESG disclosure collectively has positively affected the market value. At the same time, the results do not show any important role in governance. This indicates that companies pay close attention to various stakeholders, particularly external stakeholders, and wish to increase trust and transparency by disclosing their ESG performance. As a result, companies’ confidence in the capital markets is reinforced, and improved disclosure practices positively affect market value. This study adds an empirical contribution to the literature by investigating the influence of sustainability reporting on companies’ market value in the context of emerging economic countries.

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环境、社会和治理绩效披露与市场价值:来自约旦的证据

本文旨在从三个维度(整体和个体)考察2012 - 2019年约旦上市公司ESG披露对市值的影响。以ASE上市的173家公司为样本，收集了1384个观察值。研究结果表明，环境信息披露和社会信息披露使公司市值最大化，ESG信息披露共同对公司市值产生正向影响。同时，结果显示在治理中没有任何重要的作用。这表明公司密切关注各种利益相关者，特别是外部利益相关者，并希望通过披露其ESG绩效来增加信任和透明度。因此，公司对资本市场的信心得到增强，改进的披露做法对市场价值产生积极影响。本研究通过调查新兴经济国家背景下可持续发展报告对公司市场价值的影响，为文献增加了经验贡献。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Business Perspectives and Research Business, Management and Accounting-Business and International Management

CiteScore

5.00

自引率

0.00%

发文量

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