Daniel E. Rush , Nigel P. Melville , Christie M. Fuller
{"title":"Market value and environmental performance of carbon management systems: An international investigation","authors":"Daniel E. Rush , Nigel P. Melville , Christie M. Fuller","doi":"10.1016/j.im.2024.103997","DOIUrl":null,"url":null,"abstract":"<div><p>This study examines the financial and environmental effects of carbon management systems (CMSs) used in publicly traded companies worldwide. Market reactions to companies that announce the adoption of a CMS are analyzed, as are changes in greenhouse gas (GHG) emissions for CMS adopters. A method for conducting international event studies is introduced, and a Monte Carlo simulation indicates that such a method may be necessary to avoid bias. Empirical results suggest that CMS adoption announcements might not generate positive abnormal returns across a variety of specifications. In contrast, estimation results suggest that adoption of a CMS may mitigate increases in GHG emissions.</p></div>","PeriodicalId":56291,"journal":{"name":"Information & Management","volume":"61 6","pages":"Article 103997"},"PeriodicalIF":8.2000,"publicationDate":"2024-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Information & Management","FirstCategoryId":"91","ListUrlMain":"https://www.sciencedirect.com/science/article/pii/S037872062400079X","RegionNum":2,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"2024/6/14 0:00:00","PubModel":"Epub","JCR":"Q1","JCRName":"COMPUTER SCIENCE, INFORMATION SYSTEMS","Score":null,"Total":0}
引用次数: 0
Abstract
This study examines the financial and environmental effects of carbon management systems (CMSs) used in publicly traded companies worldwide. Market reactions to companies that announce the adoption of a CMS are analyzed, as are changes in greenhouse gas (GHG) emissions for CMS adopters. A method for conducting international event studies is introduced, and a Monte Carlo simulation indicates that such a method may be necessary to avoid bias. Empirical results suggest that CMS adoption announcements might not generate positive abnormal returns across a variety of specifications. In contrast, estimation results suggest that adoption of a CMS may mitigate increases in GHG emissions.
期刊介绍：
Information & Management is a publication that caters to researchers in the field of information systems as well as managers, professionals, administrators, and senior executives involved in designing, implementing, and managing Information Systems Applications.
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