2,058
Views
4
CrossRef citations to date
0
Altmetric
Research Article

External financing demands, media attention and the impression management of carbon information disclosure

, &

References

  • Jiang Y. Analysis on the construction of carbon information disclosure quality evaluation system—a case study of heavy pollution Industry. Commun Financ Account. 2019;(10):22–26.
  • Huang YX, Yao Z. Corporate social responsibility report, impression management and corporate performance. Econ Manage. 2016;38(01):105–115.
  • Chen H, Wang HY. Definition, measuring methods and status of carbon information disclosure in Chinese enterprises. Ecol Econ. 2015;11(4):393–400.
  • Talbot D, Boiral O. Strategies for climate change and impression management: a case study among Canada’s large industrial emitters. J Bus Ethics. 2015;132(2):329–346. doi:10.1007/s10551-014-2322-5.
  • Talbot D, Boiral O. GHG reporting and impression management: an assessment of sustainability reports from the energy sector. J Bus Ethics. 2018;147(2):367–383. doi:10.1007/s10551-015-2979-4.
  • Luo L. The influence of institutional contexts on the relationship between voluntary carbon disclosure and carbon emission performance. Account Finance. 2019; 59(2):1235–1264. doi:10.1111/acfi.12267.
  • Guo T, Zha G, Lee CL, et al. Does corporate green ranking reflect carbon-mitigation performance? J Cleaner Prod. 2020;277:1–13. https://doi.org/10.1016/j.jclepro.2020.123601
  • Leung S, Parker L, Courtis J. Impression management through minimal narrative disclosure in annual reports. Br account Rev. 2015;47(3):275–289. doi:10.1016/j.bar.2015.04.002.
  • Leary MR, Kowalski RM. Impression management: a literature and two component model. Psychol Bull. 1990;107(1):34–37. doi:10.1037/0033-2909.107.1.34.
  • Sun ML. On impression management behavior in information disclosure of listed companies. Account Res. 2004;(03):40–45.
  • Geely Feng LH, Wang HH. Influence of organizational impression management on quality characteristics of CSR report. Friends Account. 2010;(07):19–21.
  • Kim MS, Kim DT, Kim JI. CSR for sustainable development: CSR beneficiary positioning and impression management motivation. Corp Soc Responsib Environ Mgmt. 2014; 21(1):14–27. doi:10.1002/csr.1300.
  • Tata J, Prasad S. CSR communication: an impression management perspective. J Bus Ethics. 2015; 132(4):765–778. doi:10.1007/s10551-014-2328-z.
  • Abernathy J, Stefaniak C, Wilkins A, et al. Literature review and research opportunities on credibility of corporate social responsibility reporting. AJB. 2017; 32(1):24–41. doi:10.1108/AJB-04-2016-0013.
  • Diouf D, Boiral O. The quality of sustainability reports and impression management: a stakeholder perspective. AAAJ. 2017; 30(3):643–667. doi:10.1108/AAAJ-04-2015-2044.
  • Lourenço IC, Oliveira J, Branco MC, et al. Are CSR leaders less prone to engage in impression management? XVIC, ongresso Internacional de Contabilidade e Auditoria. Ordem dos Contabilistas Certificados. 2017.
  • Zhang ZY, Qiu JT. Accounting conservatism, corporate governance and social responsibility report impression management. Financ Theory Pract. 2017; 38(03):77–83.
  • García-Sánchez IM, Suárez-Fernández O, Martínez-Ferrero J. Female directors and impression management in sustainability reporting. Int Bus Rev. 2019; 28(2):359–374. doi:10.1016/j.ibusrev.2018.10.007.
  • Ji ML, Dong BY. The influence of impression management on equity capital cost in social responsibility report – based on the moderating effect of accounting conservatism. Financ Account Mon. 2019;(16):160–168.
  • Huang RB, Chen W, Wang KH. External financing demand, impression management and enterprise greenwashing. Comp Econ Soc Syst. 2019;(03):81–93.
  • Gao G. The new trend of green credit: the past life of carbon credit. Environ Protection. 2010;22:27–29.
  • Dhaliwal DS, Li OZ, Tsang A, et al. Voluntary nonfinancial disclosure and the cost of equity capital: the initiations of corporate social responsibility reporting. Account Rev. 2011;86(1):59–100. doi:10.2308/accr.00000005.
  • Ghoul S, Guedhami O, Kwok CCY, et al. Does corporate social responsibility affect the cost of capital? J Bank Financ. 2011; 35(9):2388–2406. doi:10.1016/j.jbankfin.2011.02.007.
  • Goss A, Roberts G. The impact of corporate social responsibility on the cost of bank loan. J Bank Financ. 2011; 35(7):1794–1810. doi:10.1016/j.jbankfin.2010.12.002.
  • Kleimeier S, Viehs M. Carbon disclosure, emission levels, and the cost of debt. SSRN Electron J. 2018. doi:10.2139/ssrn.2719665.
  • Yang J, Zhang M, Liu YC. How does carbon information disclosure affect debt financing cost – a study on intermediation effect based on debt default risk? J Beijing Inst Technol. 2020;22(04):28–38.
  • Shen H, Zheng S, Adams J, et al. The effect stakeholders have on voluntary carbon disclosure within Chinese business organizations. Carbon Manage. 2020; 11(5):455–472. doi:10.1080/17583004.2020.1805555.
  • Mei XH, Ge Y, Zhu XN. Research on the influence mechanism of environmental legitimacy pressure on corporate Carbon information disclosure. Soft Sci. 2020;34(08):78–83.
  • Hrasky S. Carbon footprints and legitimation strategies: symbolism or action? Acc Audit Account J. 2011; 25(1):174–198. doi:10.1108/09513571211191798.
  • Herold DM, Lee KH. The influence of internal and external pressures on carbon management practices and disclosure strategies. Australas J Environ Manag. 2019; 26(1):63–81. doi:10.1080/14486563.2018.1522604.
  • Lyon TP, Maxwell JW. Greenwash: corporate environmental disclosure under threat of audit. J Econ Manage Strategy. 2011; 20(1):3–41. doi:10.1111/j.1530-9134.2010.00282.x.
  • Zhai HY. Influence of external financing demand on corporate Social Responsibility Disclosure under soft budget constraints. China Popul Resour Env. 2010; 20(09):107–113.
  • Meng X, Zeng S, Xie X, et al. Beyond symbolic and substantive: strategic disclosure of corporate environmental information in China. Bus Strat Env. 2019; 28(2):403–417. doi:10.1002/bse.2257.
  • Marquis C, Toffel MW, Zhou Y. Scrutiny, norms, and selective disclosure: a global study of greenwashing. Organ Sci. 2016; 27(2):483–504. doi:10.1287/orsc.2015.1039.
  • Li Z, Guan F. Research on the economic consequences of carbon emission reduction by Chinese enterprises. J Zhongnan Univ Econ Law. 2015;(03):11–18.
  • Fang L, Peress J. Media coverage and the cross-section of stock returns. J Financ. 2009;64(5):2023–2052. doi:10.1111/j.1540-6261.2009.01493.x.
  • Dyck AN, Volchkova L, Zingales L. The corporate governance role of the media: evidence from Russia. J Financ. 2008;63(3):1093–1135. doi:10.1111/j.1540-6261.2008.01353.x.
  • Miller GS. The press as a watchdog for accounting fraud. J Account Res. 2006; 44(5):1001–1033. doi:10.1111/j.1475-679X.2006.00224.x.
  • Li XH, Yang K. Research on media attention, audit opinion and accounting information transparency. J Cent Univ Financ Econ. 2015;(10):52–60.
  • Qi B, Yang R, Tian G. Can media deter management from manipulating earnings? Evidence from China. Rev Quant Finan Acc. 2014; 42(3):571–597. doi:10.1007/s11156-013-0353-0.
  • Chen Y, Cheng CA, Li S, et al. The monitoring role of the media: evidence from earnings management. J Bus Finan Account. 2020. doi:10.2139/ssrn.2938955.
  • Li HY, Fu SY, Wang RF. Construction of carbon information disclosure evaluation system. Stat Decis. 2015;(13):40–42.
  • Clarkson PM, Li Y, Richardson GD, et al. Revisiting the relation between environmental performance and environmental disclosure: an empirical analysis. Account Organ Soc. 2008;33(4–5):303–327. doi:10.1016/j.aos.2007.05.003.
  • Walker K, Wan F. The harm of symbolic actions and green -washing: corporate actions and communications on environmental performance and their financial implications. J Bus Ethics. 2012;109(2):227–242. doi:10.1007/s10551-011-1122-4.
  • Qian W, Cai N. Institutional complexity and strategic choice of enterprise environment: an interpretation from the perspective of institutional logic. Comp Econ Soc Syst. 2015;(01):125–138.
  • Demirgüç-Kunt A, Maksimovic V. Law, finance, and firm growth. J Financ. 1998; 53(6):2107–2137. doi:10.1111/0022-1082.00084.
  • Durnev AA, Kim EH. To steal or not to steal: firm attributes, legal environment, and valuation. J Financ. 2005;60(3):1461–1493. doi:10.1111/j.1540-6261.2005.00767.x.
  • Lu TP, Zhang DX. Financing demands, financing constraints and earnings management. Account Res. 2014;(01):35–41.
  • Yang N, Guo SH. Financing demands, investor sentiment and earnings management. Wuhan Financ. 2020;(02):58–66.
  • Meng Y. An empirical study on the influence of media attention on real earnings management. 6th International Conference on Humanities and Social Science Research (ICHSSR 2020). Atlantis Press, 2020:228–233. doi:10.2991/assehr.k.200428.050.
  • Luo W, Guo X, Zhong S, et al. Environmental information disclosure quality, media attention and debt financing costs: evidence from Chinese heavy polluting listed companies. J Cleaner Prod. 2019;231:268–277. doi:10.1016/j.jclepro.2019.05.237.
  • Song C, Tian YY, Chen Q. Internal control voluntary disclosure, disclosure cost and financing demand. J Shanxi Univ Financ Econ. 2014;36(01):91–102.
  • Li H, Fu S, Chen Z, et al. The motivations of Chinese firms in response to the carbon disclosure project. Environ Sci Pollut Res Int. 2019;26(27):27792–27807. doi:10.1007/s11356-019-05975-5.
  • Li L, Liu QQ, Tang DL. Carbon performance, carbon information disclosure quality and equity financing cost. Manag Rev. 2019;31(01):221–235.
  • Zhou ZF, Wen K, Zeng HX. Carbon risk, media attention and debt financing cost – empirical evidence from listed enterprises in China’s A-share high-carbon industry. Mod Financ Econ. 2017;37(08):16–32.

Reprints and Corporate Permissions

Please note: Selecting permissions does not provide access to the full text of the article, please see our help page How do I view content?

To request a reprint or corporate permissions for this article, please click on the relevant link below:

Academic Permissions

Please note: Selecting permissions does not provide access to the full text of the article, please see our help page How do I view content?

Obtain permissions instantly via Rightslink by clicking on the button below:

If you are unable to obtain permissions via Rightslink, please complete and submit this Permissions form. For more information, please visit our Permissions help page.