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The impact of Climate Change Disclosure on Firm Value and Stock Price Crash Risk
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The impact of Climate Change Disclosure on Firm Value and Stock Price Crash Risk
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Journal Article
The impact of Climate Change Disclosure on Firm Value and Stock Price Crash Risk
2025
Overview
This study examines the impact of climate change disclosure on firm value and stock price crash risk using panel data from 30 companies listed on the Egyptian Exchange (EGX) from 2020 to 2023 (120 firm-year observations). The research employs panel regression models to analyze the relationship between climate disclosure (measured using TCFD-based criteria) and financial outcomes, controlling for firm size, leverage, liquidity, and ROA. Results indicate that climate disclosure significantly enhances firm value and reduces stock price crash risk, aligning with signaling theory and information asymmetry reduction. The findings highlight the financial benefits of transparency in climate-related risks and opportunities, particularly in emerging markets like Egypt. The results suggest that mandatory disclosure frameworks (e.g., IFRS S2 and TCFD) can improve market efficiency and investor confidence.
Publisher
جامعة عين شمس - كلية التجارة - قسم المحاسبة والمراجعة
Subject
