A Study on the Impact of Carbon Information Disclosure on the Enterprises’ Green Transformation
XU Hui1, ZHOU Xiaohua2, ZHOU Bing1
1. School of Accounting,Chongqing Technology and Business University,Chongqing 400067, China; 2. School of Economics and Business Administration, Chongqing University, Chongqing 400044, China
Abstract Based on the dual perspectives of signal display theory and legitimacy theory, the paper builds a carbon information disclosure indicator system, and uses relevant data of A-share listed companies in the Shanghai and Shenzhen stock exchanges from 2013 to 2023 to systematically analyze the impact of carbon information disclosure on corporate green transformation and mechanism of action. The study shows that carbon information disclosure has a significant incentive effect on enterprises’ green transformation. Mechanism test results show that alleviating financing constraints and attracting external market attention are the transmission mechanisms for carbon information disclosure to help enterprises’ green transformation. The results of extended analysis show that the “double carbon” target has a significant incentive effect on carbon information disclosure to help enterprises green transformation. Investor identification ability can strengthen the incentive effect of carbon information disclosure on enterprises’ green transformation, indicating that carbon information disclosure and investor identification ability are complementary in motivating enterprises’ green transformation. The conclusions not only deepen people’s theoretical understanding of the economic consequences of carbon information disclosure, but also provide theoretical support for China to unswervingly promote the construction of ecological civilization. They also provide feasible path options for China enterprises to achieve green transformation and formulate carbon regulatory policies under the “ double carbon ” goal.
XU Hui,ZHOU Xiaohua,ZHOU Bing. A Study on the Impact of Carbon Information Disclosure on the Enterprises’ Green Transformation. Economic Survey, 2024, 41(5): 041.
2024, Vol. 41 
