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The impact of environmental information disclosure quality on corporate value: The mediating role of innovation investment

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  • YANG, Xianzi
  • ZHENG, Chao
  • WANG, Miao

Abstract

This study examines how environmental information disclosure (EID) affects corporate value (CV) using data from pollution-intensive enterprises(2015–2023). The results reveal a positive, U-shaped relationship between EID and CV, with innovation investment playing a significant mediating role. Additionally, quantile regression analysis indicates that the effect of EID on CV varies across different corporate levels, being particularly significant for high-value enterprises. Further analysis shows that the impact of EID on CV is more pronounced in regions with weaker market development and nonstate-owned enterprises. These findings provide valuable theoretical and practical guidance for enterprises in environmental management and information disclosure decision-making.

Suggested Citation

  • YANG, Xianzi & ZHENG, Chao & WANG, Miao, 2025. "The impact of environmental information disclosure quality on corporate value: The mediating role of innovation investment," Finance Research Letters, Elsevier, vol. 79(C).
    • Handle: RePEc:eee:finlet:v:79:y:2025:i:c:s1544612325005677
    DOI: 10.1016/j.frl.2025.107304
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