Corporate Carbon Emission Reduction Behaviour Under the Attention of Capital Markets: Practical Action or Packaging Strategy?
Year: 2026
Type: article
Abstract: ABSTRACT Based on data from Chinese listed companies from 2012 to 2023, this study analyzes the unintended effects of capital market attention on corporate carbon disclosure and the mechanisms underlying these effects. Our research finds that capital market attention increases firms' carbon information packaging behaviour. Among external stakeholders, the attention of institutional investors and analysts is a key factor driving the increase in such packaging behaviours. Mechanism analysis indicates that capital market attention increases firms' carbon information packaging behaviour by amplifying management myopia, financing constraints, and corporate reputation. In unregulated industries, energy‐intensive enterprises, and companies that have not been audited by a third party, capital market attention plays a more significant role in encouraging companies to engage in packaging behaviour. Our findings hold significant theoretical and practical implications for advancing corporate sustainability and refining carbon disclosure frameworks.
Source: Accounting and Finance
DOI: 10.1111/acfi.70282
Authors: Xu Chen, Chun Li, Chenxi Yuan, Jiaqin Zhong, Yixin Zhao
Language: English
Subfield: Strategy and Management
Domain: Social Sciences
SDG: Climate action
Open Access status: bronze
OpenAlex ID: W7204457876