Further Evidence on the Factors and Valuation Associated with the Level of Environmental Liability Disclosures
Academy of Accounting and Financial Studies Journal, Vol. 13, No. 3, 2009
26 Pages Posted: 22 Mar 2012
Date Written: March 19, 2012
Abstract
We find that the level of environmental GAAP disclosure is associated with profitability, and that this level of environmental GAAP disclosure is relevant to investors, We also find that the effect of profitability on the level of environmental GAAP disclosure, and the effect of the level of environmental GAAP disclosure on market valuation, depends on whether the disclosures confirm the concurrent corporate goals of profit maximization and environmental responsibility, Lastly, we provide descriptive evidence of environmental GAAP disclosure practices over time.
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