home   structure    disabled Versija neįgaliesiems  
         
   
Lietuvos socialinių mokslų centro Ekonomikos ir kaimo vystymo institutas
 
  LT  EN                  El. paštas: laei@laei.lt  
 
 
 
Mokslo publikacijos
2018-12-11

Corporate sustainability disclosure and market valuation in a Middle Eastern Nation: evidence from listed firms on the Tehran Stock Exchange: sensitive industries versus non-sensitive industries

Abstract

This article has received the considerable critical attention that seeking to enhance sustainability disclosure may essentially make progress firms’ market valuation. It aims to provide the corporate sustainability disclosure level organized according to the ‘7 + 1’, seven core subjects of the International Organization for Standardization (ISO) 26000 and the energy disclosure items, then set out to assess the effectiveness of sustainability reporting on the listed firms’ market valuation during the period 2010–2015. To achieve this objective, data were collected from a sample of 98 Iranian manufacturing and service organizations from various industry sectors at the Tehran Stock Exchange and generalized method of moments (GMM) approach was conducted for a dynamic panel data to evaluate the effect of the sustainability reporting level on the listed firms’ market valuation. As can be seen from the results, the overall extent of sustainability disclosure arranged in accordance with the low rate of sustainability reporting for listed firms in TSE. It was also found that the sensitive firms have a greater level of corporate sustainability disclosure than the other firms. Moreover, sustain- ability reporting has been shown to be related to market valuations in which firms activating in sensitive industries environmentally with sustainability reporting had higher market valuations than firms activating in non-sensitive industries with sustainability reporting. Our ‘7 + 1’ sustainability disclosure practice aspects all together with their basic measurement items can be applied as a checklist for assessing how well sustainability disclosure practices are performed at TSE.


Keywords: Corporate sustainability disclosure; firm value; stakeholder theory; panel data; Tehran Stock Exchange

 

https://doi.org/10.1080/1331677X.2018.1486722

 

Impact Factor: 1,137  (2017 Journal Citation Reports, Clarivate Analytics, 2018)

 

 

Mohammadi, M.A.D., Mardani, A., Ali, Khan, M. N. A.A., Streimikiene, D. 2018. Corporate sustainability disclosure and market valuation in a Middle Eastern Nation: evidence from listed firms on the Tehran Stock Exchange: sensitive industries versus non-sensitive industries. In Economic Research-Ekonomska Istraživanja, Vol. 31, Issue 1, p. 1488-1511, online 1848-9664, print ISSN: 1331-677X; https://doi.org/10.1080/1331677X.2018.1486722

 




derlius_2020.jpg
Baneris-8.jpg
Virselis_2019_raudona_lt.png
B_34658va3p.jpg
9B08E3R.jpg
c9l3L9fBmR.jpg
zedine1.jpg
                 
LAEI  |  A. Vivulskio g. 4A-13, 03220 Vilnius  |  Tel. (8 5) 2614525  |  Faks. (8 5) 2614524  |  El. paštas laei@laei.lt  |  Įm. kodas 111952970  |  PVM mokėtojo kodas LT119529716
Valstybės biudžetinė įstaiga. Duomenys kaupiami ir saugomi juridinių asmenų registre, kodas 111952970
  Pagaminta Xserv.lt