Corporate sustainability and fair market value: a study of Indian family versus non-family firms / Meena Sharma, Raj Kumar and Rajbir Kaur
The recent corporate trends show a shift towards responsible performance and increased responsibility disclosures. The reporting of environmental, social and governance (ESG) factors by a firm has been found to have positive market valuations. This study empirically analyses the association of ESG d...
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| Format: | Article |
| Language: | en |
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Accounting Research Institute (ARI)
2020
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| Online Access: | https://ir.uitm.edu.my/id/eprint/65609/1/65609.pdf https://ir.uitm.edu.my/id/eprint/65609/ https://apmaj.uitm.edu.my/ |
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| author | Sharma, Meena Kumar, Raj Kaur, Rajbir |
| author_facet | Sharma, Meena Kumar, Raj Kaur, Rajbir |
| author_sort | Sharma, Meena |
| building | Tun Abdul Razak Library |
| collection | Institutional Repository |
| content_provider | Universiti Teknologi Mara |
| content_source | UiTM Institutional Repository |
| continent | Asia |
| country | Malaysia |
| description | The recent corporate trends show a shift towards responsible performance and increased responsibility disclosures. The reporting of environmental, social and governance (ESG) factors by a firm has been found to have positive market valuations. This study empirically analyses the association of ESG disclosures and market valuations in an emerging market, India. This study is original as it examines the association between responsibility disclosure and firm value of family firms with non-family business firms. This study was conducted with a sample of 245 Indian companies over 5 years and the results show that ESG disclosures do not significantly explain firm value (measured as Tobin’s q). A significant difference between the ESG disclosure practices of family and non-family firms was found. The family firms make higher ESG disclosures. These results document another advantage of family-ownership in today’s era of responsible investing. The study has implications for investors in investment decision making and screening of investments. |
| format | Article |
| id | my.uitm.ir-65609 |
| institution | Universiti Teknologi Mara |
| language | en |
| publishDate | 2020 |
| publisher | Accounting Research Institute (ARI) |
| record_format | eprints |
| spelling | my.uitm.ir-656092022-08-23T08:10:33Z https://ir.uitm.edu.my/id/eprint/65609/ Corporate sustainability and fair market value: a study of Indian family versus non-family firms / Meena Sharma, Raj Kumar and Rajbir Kaur apmaj Sharma, Meena Kumar, Raj Kaur, Rajbir Executives. Executive ability. Industrialists Organizational behavior. Corporate culture The recent corporate trends show a shift towards responsible performance and increased responsibility disclosures. The reporting of environmental, social and governance (ESG) factors by a firm has been found to have positive market valuations. This study empirically analyses the association of ESG disclosures and market valuations in an emerging market, India. This study is original as it examines the association between responsibility disclosure and firm value of family firms with non-family business firms. This study was conducted with a sample of 245 Indian companies over 5 years and the results show that ESG disclosures do not significantly explain firm value (measured as Tobin’s q). A significant difference between the ESG disclosure practices of family and non-family firms was found. The family firms make higher ESG disclosures. These results document another advantage of family-ownership in today’s era of responsible investing. The study has implications for investors in investment decision making and screening of investments. Accounting Research Institute (ARI) 2020-08 Article PeerReviewed text en https://ir.uitm.edu.my/id/eprint/65609/1/65609.pdf Corporate sustainability and fair market value: a study of Indian family versus non-family firms / Meena Sharma, Raj Kumar and Rajbir Kaur. (2020) Asia-Pacific Management Accounting Journal <https://ir.uitm.edu.my/view/publication/Asia-Pacific_Management_Accounting_Journal/>, 15 (2): 5. pp. 93-121. ISSN 2550-1631 https://apmaj.uitm.edu.my/ 10.24191/APMAJ.v15i2-05 10.24191/APMAJ.v15i2-05 10.24191/APMAJ.v15i2-05 |
| spellingShingle | Executives. Executive ability. Industrialists Organizational behavior. Corporate culture Sharma, Meena Kumar, Raj Kaur, Rajbir Corporate sustainability and fair market value: a study of Indian family versus non-family firms / Meena Sharma, Raj Kumar and Rajbir Kaur |
| title | Corporate sustainability and fair market value: a study of Indian family versus non-family firms / Meena Sharma, Raj Kumar and Rajbir Kaur |
| title_full | Corporate sustainability and fair market value: a study of Indian family versus non-family firms / Meena Sharma, Raj Kumar and Rajbir Kaur |
| title_fullStr | Corporate sustainability and fair market value: a study of Indian family versus non-family firms / Meena Sharma, Raj Kumar and Rajbir Kaur |
| title_full_unstemmed | Corporate sustainability and fair market value: a study of Indian family versus non-family firms / Meena Sharma, Raj Kumar and Rajbir Kaur |
| title_short | Corporate sustainability and fair market value: a study of Indian family versus non-family firms / Meena Sharma, Raj Kumar and Rajbir Kaur |
| title_sort | corporate sustainability and fair market value: a study of indian family versus non-family firms / meena sharma, raj kumar and rajbir kaur |
| topic | Executives. Executive ability. Industrialists Organizational behavior. Corporate culture |
| url | https://ir.uitm.edu.my/id/eprint/65609/1/65609.pdf https://ir.uitm.edu.my/id/eprint/65609/ https://apmaj.uitm.edu.my/ |
| url_provider | http://ir.uitm.edu.my/ |