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Toward Mandatory Environmental Disclosure for Capital Markets: Discussion and Empirical Evidence from Japan
https://doi.org/10.34577/00000054
https://doi.org/10.34577/0000005483bde294-a0c4-48a8-80e8-7a044098df37
| 名前 / ファイル | ライセンス | アクション |
|---|---|---|
Toward Mandatory Environmental Disclosure for Capital Markets (746.0 kB)
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| Item type | 紀要論文 / Departmental Bulletin Paper(1) | |||||||
|---|---|---|---|---|---|---|---|---|
| 公開日 | 2013-11-01 | |||||||
| タイトル | ||||||||
| タイトル | Toward Mandatory Environmental Disclosure for Capital Markets: Discussion and Empirical Evidence from Japan | |||||||
| 言語 | en | |||||||
| タイトル | ||||||||
| タイトル | Toward Mandatory Environmental Disclosure for Capital Markets: Discussion and Empirical Evidence from Japan | |||||||
| 言語 | en | |||||||
| 資源タイプ | ||||||||
| 資源タイプ識別子 | http://purl.org/coar/resource_type/c_6501 | |||||||
| 資源タイプ | departmental bulletin paper | |||||||
| ID登録 | ||||||||
| ID登録 | 10.34577/00000054 | |||||||
| ID登録タイプ | JaLC | |||||||
| アクセス権 | ||||||||
| アクセス権 | open access | |||||||
| アクセス権URI | http://purl.org/coar/access_right/c_abf2 | |||||||
| 著者 |
Azuma, Kentaro
× Azuma, Kentaro× Miyazaki, Nobuyuki
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| 抄録 | ||||||||
| 内容記述タイプ | Abstract | |||||||
| 内容記述 | Increasing demand for environmental disclosure by capital markets has amplified discussions calling for mandatory environmental disclosure. Toward mandating, capabilities and shortcomings of current voluntary environmental reporting must be clarified from an investor’s perspective. The authors carried out extensive empirical research in Japan, one of the most advanced countries in the world in terms of environmental reporting. Global information vendors are currently practicing a promising approach that enables investors to utilise environmental data disclosed voluntarily. Relying on their approach, the authors developed an environmental database that covers 185 companies in the Nikkei Index. This paper uses the information in this database to discuss the capabilities and shortcomings of voluntary environmental disclosure. The database enables investors to undertake simple analysis, but blanks and discrepancies in boundaries damage the comparability and reliability of the data. These fundamental shortcomings stem largely from the adverse incentive: the more a company is engaged in environmental reporting, the worse it could appear in the database we developed. In contrast to the fact that an “invisible hand” could increase the number of sustainability reports published voluntarily, the adverse incentive faced by companies indicates that policy-making in the area of environmental disclosure may become more vital in the future. |
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| 言語 | en | |||||||
| 書誌情報 |
ja : 社会科学ジャーナル 号 76, p. 55-66, 発行日 2013-09-01 |
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| 出版者 | ||||||||
| 出版者 | 国際基督教大学 | |||||||
| 言語 | ja | |||||||
| ISSN | ||||||||
| 収録物識別子タイプ | ISSN | |||||||
| 収録物識別子 | 04542134 | |||||||
