- Companies' market values increased following CSRwire release: Sample of disclosing companies received an aggregate market value boost following their CSRwire releases of approximately ten billion dollars, independent of differences in public information availability.
- Voluntary green disclosure produce positive returns to shareholders: As predicted, the study found that shareholders on average respond positively to a CSRwire release by 0.468 percent over the three -day window (of the posting).
- Small companies tend to benefit more: Shareholders of smaller companies with limited public information availability benefit the most from voluntary green disclosure [with prices increasing as much as 2.32 percent].
New Research: Voluntary Disclosure Produces Positive Returns For Shareholders
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