In EDS ansehen

Industry‐Specific Effects of GHG Reduction on Corporate Value: Porter Hypothesis Validation Under Korean Mandatory Disclosure Framework.

Gespeichert in:
Bibliographische Detailangaben
Titel: Industry‐Specific Effects of GHG Reduction on Corporate Value: Porter Hypothesis Validation Under Korean Mandatory Disclosure Framework.
Autoren: Jung, Gumin1 (AUTHOR), Lee, Shin2 (AUTHOR) shinlee714@uos.ac.kr
Quelle: Business Strategy & the Environment (John Wiley & Sons, Inc). Nov2025, p1. 19p.
Schlagwörter: *ENVIRONMENTAL regulations, *DISCLOSURE laws, *TECHNOLOGICAL innovations, *GREENHOUSE gas mitigation, *ECONOMIC sectors, ENTERPRISE value, KOREANS
Geografische Kategorien: KOREA
Abstract: ABSTRACT This study examines how GHG emission reductions affect corporate value across heterogeneous industrial sectors, providing systematic empirical validation of Porter Hypothesis mechanisms under Korea's mandatory Target Management Scheme. Using panel data from 2011 to 2022 across five industries, we employ tri‐dimensional corporate value measurement encompassing market valuation, investment capacity, and operational efficiency. Results reveal pronounced sectoral heterogeneity in environmental regulation outcomes. Manufacturing sectors demonstrate innovation‐driven value creation, achieving +0.021% Tobin's Q increases and +0.009% gains in both Capex and operational efficiency. Conversely, service sectors experience cost‐burden effects: Transportation and warehousing face −0.145% market value declines, while Wholesale and retail experience −0.152% reductions despite operational efficiency gains. Firm size analysis reveals additional complexity, with smaller wholesale and retail firms outperforming larger counterparts. Findings confirm Porter Hypothesis benefits are selective, contingent upon pre‐existing technological capabilities and resource configurations, offering insights for designing industry‐differentiated environmental policies under mandatory disclosure frameworks. [ABSTRACT FROM AUTHOR]
Copyright of Business Strategy & the Environment (John Wiley & Sons, Inc) is the property of Wiley-Blackwell and its content may not be copied or emailed to multiple sites without the copyright holder's express written permission. Additionally, content may not be used with any artificial intelligence tools or machine learning technologies. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)
Datenbank: Business Source Index
Beschreibung
Abstract:ABSTRACT This study examines how GHG emission reductions affect corporate value across heterogeneous industrial sectors, providing systematic empirical validation of Porter Hypothesis mechanisms under Korea's mandatory Target Management Scheme. Using panel data from 2011 to 2022 across five industries, we employ tri‐dimensional corporate value measurement encompassing market valuation, investment capacity, and operational efficiency. Results reveal pronounced sectoral heterogeneity in environmental regulation outcomes. Manufacturing sectors demonstrate innovation‐driven value creation, achieving +0.021% Tobin's <italic>Q</italic> increases and +0.009% gains in both Capex and operational efficiency. Conversely, service sectors experience cost‐burden effects: Transportation and warehousing face −0.145% market value declines, while Wholesale and retail experience −0.152% reductions despite operational efficiency gains. Firm size analysis reveals additional complexity, with smaller wholesale and retail firms outperforming larger counterparts. Findings confirm Porter Hypothesis benefits are selective, contingent upon pre‐existing technological capabilities and resource configurations, offering insights for designing industry‐differentiated environmental policies under mandatory disclosure frameworks. [ABSTRACT FROM AUTHOR]
ISSN:09644733
DOI:10.1002/bse.70325