Martin-Luther-Universität Halle-Wittenberg


Manuela Bank-Zillmann

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Patrick Velte: Carbon performance and disclosure- Governance-related determinants and their firms’ financial consequence

Termin Mittwoch, 29. Januar 2020, 18.00 - 19.00 Uhr
Veranstaltungsart Vorlesung/Vortrag
Einrichtung Wirtschaftswissenschaftlicher Bereich
Veranstalter Friede Springer Stiftungslehrstuhl für Unternehmensethik und Controlling
Veranstaltungsort Seminarraum 1
Straße Gr. Steinstraße 73
PLZ/Ort 06108 Halle
Ansprechpartner Tobias Hübotter
Telefon +49 345-5523316


Prof. Dr. Patrick Velte ist an der Leuphana Universität Lüneburg Professor für Accounting, Auditing & Corporate. Sein Lehrstuhl gehört dem Institut für Management, Accounting & Finance an.

The purpose of this paper is to convey a thorough understanding of the governance-related determinants and financial consequences of carbon performance and disclosure. Its motivation lies in the increasing global political, social, academic as well as practical importance of managing and reporting on carbon-related issues. Methodologically, we employ a systematic literature review. Therefore, we identify 73 quantitative peer-reviewed empirical studies in this field and categorize them according to a legitimacy-theory-based framework. Our four main contributions provide new insights in this emerging research field and provide guidance for the development of new research models: First, we help future researchers to structure this emerging field of research with respect to the interactions of the phenomenon itself (carbon performance vs. disclosure), its determinants (country- and firm-related governance), and financial consequences (value relevance, information asymmetry, financial performance and cost of capital). Second, we provide a comprehensive overview of variables and proxies used in the studies and indicate their main statistical effects, which facilitates building novel models. There are indications that 1) board composition positively influences both carbon performance and disclosure, 2) carbon performance and carbon disclosure are positively connected, 3) carbon disclosure reduces information asymmetry and 4) carbon performance increases financial performance. Third, we develop a research agenda with concise suggestions for future studies. Fourth, we argue why the under-theorization of concepts makes studies hard to compare up to date, nevertheless, it offers a vibrant field for extensive future research. (speakers abstract)


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