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Impact of green transformation on firm value: evidence from Tokyo Stock Exchange firms

Author

Listed:
  • Shingo Ide

    (NLI Research Institute, Japan)

  • Hitoshi Takehara

    (Waseda University, Japan)

Abstract

Recent global climate changes require changes in the way companies operate. This study analyzes the impact of environmental technology patents held by firms on their stock market value by developing measures of green transformation at the firm level. The empirical results show that there is no statistically significant positive association between the Green Transformation Score (GXS) and firm market value. However, there are cases where GXS has a statistically significant positive impact on market value in some industries. This may be because market participants are aware of the value of green patents, albeit to a limited extent.

Suggested Citation

  • Shingo Ide & Hitoshi Takehara, 2024. "Impact of green transformation on firm value: evidence from Tokyo Stock Exchange firms," ABEM Conference Proceedings, Academy of Business and Emerging Markets (ABEM), Canada, number 023479, July.
    • Handle: RePEc:ris:abemcp:023479
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