A cross-country analysis of corporate carbon performance: An international investment perspective |
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Affiliation: | 1. School of Business, The Hang Seng University of Hong Kong, Shatin, Hong Kong;2. Department of Building and Real Estate, The Hong Kong Polytechnic University, Hung Hom, Hong Kong;3. School of Business, The Hang Seng University of Hong Kong, Shatin, Hong Kong |
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Abstract: | In this study, we examine corporate carbon performance globally from the perspective of country-level dispersion. The average carbon performance of listed companies in the non-OECD countries increases more after the Paris Agreement than that of listed companies in the OECD countries. However, under an increasing trend of average country-level carbon performance, the dispersion of corporate carbon performance is reduced more in the OECD countries vis-à-vis the non-OECD countries. In addition, international equity ownership is negatively associated with the dispersion of country-level corporate carbon performance in the post-Paris Agreement period. This finding supports our conjecture that sophisticated foreign investors from developed countries exert a significant positive influence on the carbon management efficiency of domestic firms in developing countries. |
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Keywords: | ESG Carbon Performance International ownership OECD |
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