The Value Relevance of Greenhouse Gas Emissions Allowances: An Exploratory Study in the Related United States SO2 Market

By Derek Johnston, Stephan E. Sefcik, Naomi S. Soderstrom. 2008

138 citations recorded by the source corpus.

Subfields: Economics and Econometrics, Finance

View Paper: https://www.semanticscholar.org/paper/8359e0d3003b13b03b1eb43ab41f75080ec2ba56

How researchers see this paper

The researchers whose trusted networks rank it highest, strongest advocate first. Every researcher gets a different order.

In Economics and Econometrics

1. Diogenis Baboukardos
2. Charles H. Cho
3. Michel Magnan
4. Yue Li
5. Gordon Richardson
6. Peter M. Clarkson
7. Michelle Rodrigue
8. Matt Pinnuck

In Finance

1. Diogenis Baboukardos
2. Isabel Gallego‐Álvarez
3. Isabel‐María García‐Sánchez
4. Peter M. Clarkson
5. Manuel Castelo Branco
6. Michel Magnan
7. Jeffrey L. Callen
8. Gordon Richardson

Citations in the corpus

• How Does the Market Value Corporate Sustainability Performance? (2011, methodology): “8 Griffin and Mahon (1999), Margolis and Walsh (2003), Orlitsky et al.”
• Is Environmental Governance Substantive or Symbolic? An Empirical Investigation (2012, background): “…to pollution control and abatement and represent specific environmental management decisions owing to their relevance for regulatory (Johnston 2005; SEC 2008), strategic (Buysse and Verbeke 2003; Hart 1995), and financial (Clarkson et al. 2004; Johnston and Rock 2005; Johnston et al. 2008) purposes.”
• Factors influencing the disclosure of greenhouse gas emissions in companies world‐wide (2009, background): “The significance of this issue has justified an increasing amount of research devoted to it (e.g. Lash and Wellington, 2007; Bebbington and Larrinaga-González, 2008; Johnston et al., 2007; Freedman and Jaggi, 2005; Engels, 2008).”
• Carbon Trading: Accounting and Reporting Issues (2008, background): “For example, Johnston et al. (2008) explore how the financial market reacts to information about the position of companies in the context of the US SO2 emissions trading scheme (suggesting that the conclusions drawn in this market will help to understand the valuation of the position of…”
• The Value Relevance of Reputation for Sustainability Leadership (2014, background): “In the literature related to CS, the majority of studies applying value relevance pertain to environmental performance, either disclosed by the firm itself or by an external party (Al-Tuwaijri et al. 2004; Barth and McNichols 1994; Clarkson et al. 2004; Cormier et al. 1993; Cormier and Magnan 1997, ”
• Disclosure effects, carbon emissions and corporate value (2014, methodology): “Besides, corporate measures to reduce emissions differ because an end-of-pipe solution, such as the installation of scrubbers, is one option to reduce SO2 emissions, but this is not applicable to carbon emissions (Johnston et al., 2008).”
• The valuation relevance of environmental performance revisited: The moderating role of environmental provisions (2017, background): “Studies such as Johnston, Sefcik, and Soderstrom (2008), Kaspereit and Lopatta (2016) and Middleton (2015) find a positive association between market value and environmental performance, whereas Moneva and Cuellar (2009), Hassel, Nilsson, and Nyquist (2005) and Johnston (2005) find a negative one.”
• The Valuation Relevance of Greenhouse Gas Emissions under the European Union Carbon Emissions Trading Scheme (2015, background): “To begin, Johnson et al. (2008) examine the value relevance of sulfur dioxide”