The Research Of Carbon Disclosure Impact On Firm Value

With the rapid development of the global economy, the impact of climate change on economic activity of enterprises increasingly evident. Governments and enterprises have realized the importance of carbon emission reduction. In order to achieve emission reduction targets, the governments of various countries have made the corresponding policy and foreign enterprises have also joined the Carbon Disclosure Project (CDP). Disclose carbon information can let enterprises better assess risk and opportunity brought by the climate change. This paper Integrated application-related theories and methods of accounting, economics and other disciplines on the basis of research results at home and abroad. It also systematically analyzed CDP’s role theory and the mechanism on the value of the company, and carried on the empirical analysis. It mainly In order to make up for lack of research in the field of carbon information disclosure in our country and as the regulatory authorities in the provisions of the carbon disclosure channels and ways to provide the theory basis and the reality basis at the same time.This paper constructed the research frame and the technical route which start from the background of the research topic. It also reflects the significance of the study. It discusses the three sections:The basic contents of CDP, the Carbon Disclosure theoretical impact on firm value, the value of the Carbon Disclosure influence on the mechanism of action of the company. It analyzes the way and how to measure the Carbon Disclosure, and how CDP affect the value, but also based on what mechanisms play a role in the company’s value. According to the relevant theory about information disclosure of carbon, it respectively elaborated present situation of carbon disclosure and comparison of domestic and international Carbon Disclosure contents, methods, quality of similarities and differences from the perspective of industry and the disclosures. According to the theoretical study and the present situation of the Carbon Disclosure analysis, this paper presents a reasonable assumption; clearly explain the sample selection and data sources, and the study variables and model design. And then analyzed the results of empirical research to make descriptive statistical analysis and regression analysis. Lastly, these papers test the hypotheses to guide the reasonable suggestions on how to make Chinese Carbon Disclosure better.