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資本市場における環境情報開示の役割－資本コストへの影響－
https://doi.org/10.18999/ecos.54.2.15
https://doi.org/10.18999/ecos.54.2.15c05061c5-c0de-4399-8646-a536b50efcc0
| 名前 / ファイル | ライセンス | アクション |
|---|---|---|
ecos_54_2_15.pdf (1.5 MB)
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| Item type | 紀要論文 / Departmental Bulletin Paper(1) | |||||
|---|---|---|---|---|---|---|
| 公開日 | 2008-09-03 | |||||
| タイトル | ||||||
| タイトル | 資本市場における環境情報開示の役割－資本コストへの影響－ | |||||
| 言語 | ja | |||||
| その他のタイトル | ||||||
| その他のタイトル | The Role of Environmental Disclosure in Capital Market: Investigating the Uncertainty Resolution Effects | |||||
| 言語 | en | |||||
| 著者 |
中條, 良美
× 中條, 良美× CHUJO, Yoshimi |
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| アクセス権 | ||||||
| アクセス権 | open access | |||||
| アクセス権URI | http://purl.org/coar/access_right/c_abf2 | |||||
| 抄録 | ||||||
| 内容記述タイプ | Abstract | |||||
| 内容記述 | In this paper, I examine the association between the amount of environmental information disclosure and the uncertainly level affecting the firms' future financial conditions. The magnitude of individual firm's cost of equity capital would provide appropriate context in which to investigate the uncertainty resolution effects attached to environmental disclosure. First, I examine whether the amount of environmental disclosure significantly reduces the magnitude of estimated cost of equity capital as for the firms included in the Nikkei Kankyo Keieido Ranking of 2001. Second, I explore the effect of environmental accounting information on the magnitude of cost of equity capital by indexing the level of disclosure in each category prescribed in the guideline published by the Ministry of Environment in Japan. Although the results weakly support the uncertainty resolution effects of environmental disclosure level as a whole, I find strong evidence that the amount of environmental accounting information significantly reduces the cost of equity capital after controlling for market beta, firm size, growth and profitability measures. I empirically address the benefits from greater disclosure of a firm's environmental activities in the context of capital market, which have yet to be readily examined in Japan. | |||||
| 言語 | en | |||||
| 出版者 | ||||||
| 出版者 | 名古屋大学大学院経済学研究科 | |||||
| 言語 | ja | |||||
| 言語 | ||||||
| 言語 | jpn | |||||
| 資源タイプ | ||||||
| 資源タイプ識別子 | http://purl.org/coar/resource_type/c_6501 | |||||
| 資源タイプ | departmental bulletin paper | |||||
| 出版タイプ | ||||||
| 出版タイプ | VoR | |||||
| 出版タイプResource | http://purl.org/coar/version/c_970fb48d4fbd8a85 | |||||
| ID登録 | ||||||
| ID登録 | 10.18999/ecos.54.2.15 | |||||
| ID登録タイプ | JaLC | |||||
| ISSN（print） | ||||||
| 収録物識別子タイプ | PISSN | |||||
| 収録物識別子 | 0022-9725 | |||||
| 書誌情報 |
ja : 経済科学 巻 54, 号 2, p. 15-29, 発行日 2006-09-30 |
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| フォーマット | ||||||
| 値 | application/pdf | |||||
| 著者版フラグ | ||||||
| 値 | publisher | |||||
| URI | ||||||
| 識別子 | http://hdl.handle.net/2237/10494 | |||||
| 識別子タイプ | HDL | |||||
