The Impact Of Carbon Information Disclosure On Corporate Value Of B Company

As one of the emerging models ofeconomic development,the main goal of low carbon economy is to reduce greenhouse gas emissions and realize the sustainable development of all human beings.With the promotion of low-carbon concept around the world,governments have launched active measures to reduce carbon emissions,in order to cope with the severe challenges of global climate change.The signing of the Paris Agreement has opened up a new phase of global joint efforts to reduce carbon emissions.The rapid development of low-carbon economy has put forward new requirements for enterprises.One important aspect is to make reasonable disclosure of carbon emissions,carbon emission reduction targets and carbon management measures.Carbon information disclosure is a key channel for stakeholders,such as government,investors and the public,to understand the carbon emissions and carbon management information of enterprises.It plays an important role in the development of low-carbon economy.With the continuous deepening of research in the field of carbon information disclosure,its influence and effect on the enterprise value has been more and more discussed.In the context of the fact that China's carbon information disclosure is still in the initial stage,clarifying the impact of carbon information disclosure on corporate value,referring to the specific practices of typical enterprises to form targeted improvement measures,can play a certain reference and demonstration role for the carbon information disclosure of Chinese companies.The air pollution caused by iron and steel industry has been one of the hot issues of social concern.As the low-carbon economy is booming,the carbon information disclosure of iron and steel enterprises is facing more strict regulation and more widespread public concern.As one of the representatives of enterprises in China's iron and steel industry,B Company,which pursues the green environmental protection,has accumulated a lot of valuable experience in the disclosure of carbon information,but there are still some shortcomings.In this paper,B Company is taken as a typical case.This paper fully refers to the existing research results at home and abroad,based on the signal transmission theory,stakeholder theory,resource advantage theory and enterprise value theory,clarifies the influence mechanism of carbon information disclosure on enterprise value.Using the event study method,this paper tests the influence of B's carbon information disclosure on its enterprise value.Combined with the empirical research conclusion,some countermeasures and suggestions are put forward from the angle of management.