所属栏目:新金融/绿色金融

摘要

In response to China’s national carbon neutrality goals, this study examines how corporate carbon emissions disclosure affects the financial performance of Chinese A-share listed companies. Leveraging artificial intelligence tools, including natural language processing, we analyzed emissions disclosures for 4,336 companies from 2017 to 2022. The research demonstrates that high-quality carbon disclosure positively impacts financial performance with higher stock returns, improved return on equity, increased Tobin’s Q ratio, and reduced stock price volatility. Our findings underscore the emerging importance of carbon transparency in financial markets, highlighting how environmental reporting can serve as a strategic mechanism to create corporate value and adapt to climate change.
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Xiyuan Zhou; Xinlei Wang; Xiang Fei; Wenxuan Liu; Bai-Chen Xie; Junhua Zhao Carbon Disclosure Effect, Corporate Fundamentals, and Net-zero Emission Target: Evidence from China (2026年11月12日) https://www.cfrn.com.cn/lw/16991.html

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