Disclosure of environmental information in corporate reports and investment attractiveness of Russian companies

The relationship between the disclosure of environmental information in corporate reports and the interest of investors is difficult to justify due to the subjective assessment of the data communicated. The article discusses how the depth of environmental information disclosure in Russian companies’...

Descripción completa

Guardado en:

Detalles Bibliográficos
Autores principales:	Elena A. Fedorova, Lyudmila K. Shiryaeva, Lyubov E. Khrustova, Igor S. Demin, Svetlana V. Ledyaeva
Formato:	article
Lenguaje:	RU
Publicado:	Ural State University of Economics 2020
Materias:	corporate governance russian listed companies non-financial reporting fuzzy clustering investment attractiveness xie-beni index Business HF5001-6182 Finance HG1-9999
Acceso en línea:	https://doaj.org/article/9b3206dfb0434428904745223d82c31a
Etiquetas:	Agregar Etiqueta Sin Etiquetas, Sea el primero en etiquetar este registro!

id	oai:doaj.org-article:9b3206dfb0434428904745223d82c31a
record_format	dspace
spelling	oai:doaj.org-article:9b3206dfb0434428904745223d82c31a2021-12-02T12:23:33ZDisclosure of environmental information in corporate reports and investment attractiveness of Russian companies10.29141/2218-5003-2020-11-5-32218-50032218-5003https://doaj.org/article/9b3206dfb0434428904745223d82c31a2020-11-01T00:00:00Zhttp://upravlenets.usue.ru/ru/-2020/687https://doaj.org/toc/2218-5003https://doaj.org/toc/2218-5003The relationship between the disclosure of environmental information in corporate reports and the interest of investors is difficult to justify due to the subjective assessment of the data communicated. The article discusses how the depth of environmental information disclosure in Russian companies’ reports estimated using the authors’ dictionary (taxonomy)1 affects their investment attractiveness. Methodologically, the study rests on the concepts of green economy, behavioral finance and corporate social responsibility. The main research methods are textual and cluster analysis. Annual reports of 60 Russian listed companies for 10 years constitute the empirical base of the present work. The authors divide the period under examination (2015–2018) into two clusters. The first one is comprised companies with a high level of environmental information disclosure and relatively low investment attractiveness; the second cluster embraces companies with a low level of information disclosure, but high investment attractiveness. Despite the fact that the composition of the first cluster changes every year, it inalterably includes organizations engaged in chemical, metallurgical, energy and mining sectors. In each cluster, there is a constant increase in the level of environmental information disclosure, which may be caused by the tightening of legal requirements. However, no statistically significant relationship between the level of environmental information disclosure and the investment attractiveness of a company was found, which might be due to the absence of significant changes in investment attractiveness of companies in each cluster over time.Elena A. FedorovaLyudmila K. ShiryaevaLyubov E. KhrustovaIgor S. DeminSvetlana V. LedyaevaUral State University of Economicsarticlecorporate governancerussian listed companiesnon-financial reportingfuzzy clusteringinvestment attractivenessxie-beni indexBusinessHF5001-6182FinanceHG1-9999RUУправленец, Vol 11, Iss 5, Pp 29-46 (2020)
institution	DOAJ
collection	DOAJ
language	RU
topic	corporate governance russian listed companies non-financial reporting fuzzy clustering investment attractiveness xie-beni index Business HF5001-6182 Finance HG1-9999
spellingShingle	corporate governance russian listed companies non-financial reporting fuzzy clustering investment attractiveness xie-beni index Business HF5001-6182 Finance HG1-9999 Elena A. Fedorova Lyudmila K. Shiryaeva Lyubov E. Khrustova Igor S. Demin Svetlana V. Ledyaeva Disclosure of environmental information in corporate reports and investment attractiveness of Russian companies
description	The relationship between the disclosure of environmental information in corporate reports and the interest of investors is difficult to justify due to the subjective assessment of the data communicated. The article discusses how the depth of environmental information disclosure in Russian companies’ reports estimated using the authors’ dictionary (taxonomy)1 affects their investment attractiveness. Methodologically, the study rests on the concepts of green economy, behavioral finance and corporate social responsibility. The main research methods are textual and cluster analysis. Annual reports of 60 Russian listed companies for 10 years constitute the empirical base of the present work. The authors divide the period under examination (2015–2018) into two clusters. The first one is comprised companies with a high level of environmental information disclosure and relatively low investment attractiveness; the second cluster embraces companies with a low level of information disclosure, but high investment attractiveness. Despite the fact that the composition of the first cluster changes every year, it inalterably includes organizations engaged in chemical, metallurgical, energy and mining sectors. In each cluster, there is a constant increase in the level of environmental information disclosure, which may be caused by the tightening of legal requirements. However, no statistically significant relationship between the level of environmental information disclosure and the investment attractiveness of a company was found, which might be due to the absence of significant changes in investment attractiveness of companies in each cluster over time.
format	article
author	Elena A. Fedorova Lyudmila K. Shiryaeva Lyubov E. Khrustova Igor S. Demin Svetlana V. Ledyaeva
author_facet	Elena A. Fedorova Lyudmila K. Shiryaeva Lyubov E. Khrustova Igor S. Demin Svetlana V. Ledyaeva
author_sort	Elena A. Fedorova
title	Disclosure of environmental information in corporate reports and investment attractiveness of Russian companies
title_short	Disclosure of environmental information in corporate reports and investment attractiveness of Russian companies
title_full	Disclosure of environmental information in corporate reports and investment attractiveness of Russian companies
title_fullStr	Disclosure of environmental information in corporate reports and investment attractiveness of Russian companies
title_full_unstemmed	Disclosure of environmental information in corporate reports and investment attractiveness of Russian companies
title_sort	disclosure of environmental information in corporate reports and investment attractiveness of russian companies
publisher	Ural State University of Economics
publishDate	2020
url	https://doaj.org/article/9b3206dfb0434428904745223d82c31a
work_keys_str_mv	AT elenaafedorova disclosureofenvironmentalinformationincorporatereportsandinvestmentattractivenessofrussiancompanies AT lyudmilakshiryaeva disclosureofenvironmentalinformationincorporatereportsandinvestmentattractivenessofrussiancompanies AT lyubovekhrustova disclosureofenvironmentalinformationincorporatereportsandinvestmentattractivenessofrussiancompanies AT igorsdemin disclosureofenvironmentalinformationincorporatereportsandinvestmentattractivenessofrussiancompanies AT svetlanavledyaeva disclosureofenvironmentalinformationincorporatereportsandinvestmentattractivenessofrussiancompanies
_version_	1718394467932700672

Disclosure of environmental information in corporate reports and investment attractiveness of Russian companies

Ejemplares similares