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The impact of environmental sustainability disclosure on stock return of Saudi listed firms: the moderating role of financial constraints

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Veröffentlicht in: International Journal of Financial Studies 9(2021), 1/4 vom: März, Seite 1-17
Personen und Körperschaften: Alsahlawi, Abdulaziz Mohammed (VerfasserIn), Chebbi, Kaouther (VerfasserIn), Ammer, Mohammed Abdullah (VerfasserIn)
Titel: The impact of environmental sustainability disclosure on stock return of Saudi listed firms: the moderating role of financial constraints/ Abdulaziz Mohammed Alsahlawi, Kaouther Chebbi and Mohammed Abdullah Ammer
Format: E-Book-Kapitel
Sprache: Englisch
veröffentlicht:
2021
Gesamtaufnahme: : International Journal of Financial Studies, 9(2021), 1/4 vom: März, Seite 1-17
, volume:9
Schlagwörter:
Quelle: Verbunddaten SWB
Lizenzfreie Online-Ressourcen
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contents Environmental sustainability represents nowadays a significant factor for business sector. Firms carry out many initiatives to develop environmental practices. Investors increasingly consider environmental discloser by firms and integrate this disclosure into the investment decision-making process. Using a database of Saudi listed firms, this study adds to the literature by examining the relationship between the environmental sustainability disclosure and stock return and whether this relationship is moderated by the financial constraints. We find that the environmental sustainability disclosure has significant and negative impact on stock return, indicating that investors do not consider environmental disclosure when valuing the stocks. Furthermore, our results propose that the negative impact of environmental disclosure on stock return is more evident in firms with financial constraints. This study provides managerial implications for regulatory authorities, firms and investors. The environmental practices can be value relevant. However, these practices need to be efficiently integrated into stock valuation.
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spelling Alsahlawi, Abdulaziz Mohammed VerfasserIn aut, The impact of environmental sustainability disclosure on stock return of Saudi listed firms the moderating role of financial constraints Abdulaziz Mohammed Alsahlawi, Kaouther Chebbi and Mohammed Abdullah Ammer, 2021, Text txt rdacontent, Computermedien c rdamedia, Online-Ressource cr rdacarrier, DE-206 Open Access Controlled Vocabulary for Access Rights http://purl.org/coar/access_right/c_abf2, Environmental sustainability represents nowadays a significant factor for business sector. Firms carry out many initiatives to develop environmental practices. Investors increasingly consider environmental discloser by firms and integrate this disclosure into the investment decision-making process. Using a database of Saudi listed firms, this study adds to the literature by examining the relationship between the environmental sustainability disclosure and stock return and whether this relationship is moderated by the financial constraints. We find that the environmental sustainability disclosure has significant and negative impact on stock return, indicating that investors do not consider environmental disclosure when valuing the stocks. Furthermore, our results propose that the negative impact of environmental disclosure on stock return is more evident in firms with financial constraints. This study provides managerial implications for regulatory authorities, firms and investors. The environmental practices can be value relevant. However, these practices need to be efficiently integrated into stock valuation., DE-206 Namensnennung 4.0 International CC BY 4.0 cc https://creativecommons.org/licenses/by/4.0/, environmental sustainability disclosure, financial constraints, Saudi Arabia, stock return, Aufsatz in Zeitschrift DE-206, Chebbi, Kaouther VerfasserIn aut, Ammer, Mohammed Abdullah VerfasserIn (DE-588)1144873460 (DE-627)1005016917 (DE-576)495487317 aut, Enthalten in International Journal of Financial Studies Basel : MDPI, 2013 9(2021), 1/4 vom: März, Seite 1-17 Online-Ressource (DE-627)737287705 (DE-600)2704235-2 (DE-576)379466791 2227-7072 nnns, volume:9 year:2021 number:1/4 month:03 pages:1-17, https://www.mdpi.com/2227-7072/9/1/4/pdf Verlag kostenfrei, https://doi.org/10.3390/ijfs9010004 Resolving-System kostenfrei, http://hdl.handle.net/10419/257750 Resolving-System kostenfrei, https://doi.org/10.3390/ijfs9010004 LFER, https://www.mdpi.com/2227-7072/9/1/4/pdf LFER, LFER 2021-02-10T13:27:50Z
spellingShingle Alsahlawi, Abdulaziz Mohammed, Chebbi, Kaouther, Ammer, Mohammed Abdullah, The impact of environmental sustainability disclosure on stock return of Saudi listed firms: the moderating role of financial constraints, Environmental sustainability represents nowadays a significant factor for business sector. Firms carry out many initiatives to develop environmental practices. Investors increasingly consider environmental discloser by firms and integrate this disclosure into the investment decision-making process. Using a database of Saudi listed firms, this study adds to the literature by examining the relationship between the environmental sustainability disclosure and stock return and whether this relationship is moderated by the financial constraints. We find that the environmental sustainability disclosure has significant and negative impact on stock return, indicating that investors do not consider environmental disclosure when valuing the stocks. Furthermore, our results propose that the negative impact of environmental disclosure on stock return is more evident in firms with financial constraints. This study provides managerial implications for regulatory authorities, firms and investors. The environmental practices can be value relevant. However, these practices need to be efficiently integrated into stock valuation., environmental sustainability disclosure, financial constraints, Saudi Arabia, stock return, Aufsatz in Zeitschrift
title The impact of environmental sustainability disclosure on stock return of Saudi listed firms: the moderating role of financial constraints
title_auth The impact of environmental sustainability disclosure on stock return of Saudi listed firms the moderating role of financial constraints
title_full The impact of environmental sustainability disclosure on stock return of Saudi listed firms the moderating role of financial constraints Abdulaziz Mohammed Alsahlawi, Kaouther Chebbi and Mohammed Abdullah Ammer
title_fullStr The impact of environmental sustainability disclosure on stock return of Saudi listed firms the moderating role of financial constraints Abdulaziz Mohammed Alsahlawi, Kaouther Chebbi and Mohammed Abdullah Ammer
title_full_unstemmed The impact of environmental sustainability disclosure on stock return of Saudi listed firms the moderating role of financial constraints Abdulaziz Mohammed Alsahlawi, Kaouther Chebbi and Mohammed Abdullah Ammer
title_in_hierarchy The impact of environmental sustainability disclosure on stock return of Saudi listed firms: the moderating role of financial constraints / Abdulaziz Mohammed Alsahlawi, Kaouther Chebbi and Mohammed Abdullah Ammer,
title_short The impact of environmental sustainability disclosure on stock return of Saudi listed firms
title_sort impact of environmental sustainability disclosure on stock return of saudi listed firms the moderating role of financial constraints
title_sub the moderating role of financial constraints
topic environmental sustainability disclosure, financial constraints, Saudi Arabia, stock return, Aufsatz in Zeitschrift
topic_facet environmental sustainability disclosure, financial constraints, Saudi Arabia, stock return, Aufsatz in Zeitschrift
url https://www.mdpi.com/2227-7072/9/1/4/pdf, https://doi.org/10.3390/ijfs9010004, http://hdl.handle.net/10419/257750