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March 1, 2026Society and Business Review

ESG disclosure and firm value: a holistic approach to sustainability regulations and GRI compliance

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Authors

FHFarhan HussainCentral South UniversityZZZhifang ZhouCentral South University

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Implication

Investigates the impact of comprehensive ESG disclosure on firm value in emerging markets, suggesting greater credibility leads to higher valuation.

Key Points

  • The study aims to examine if comprehensive ESG disclosure enhances firm value in emerging markets and how credibility mechanisms affect this relationship.
  • Constructed a GRI-based ESG disclosure measure
  • Applied a staggered difference-in-differences design from 2011 to 2021
  • Focused on firms’ first attainment of comprehensive ESG disclosure thresholds in BRICS economies
  • Analyzed the influence of GRI alignment, regulatory strength, and third-party assurance
  • Firms achieving comprehensive ESG disclosure showed increased firm value in the post-adoption period
  • Valuation gains were stronger with more credible and comparable disclosures
  • Effective use of stricter sustainability regulations and explicit materiality processes enhanced value

Cite This Study

Hussain et al. (2026) studied this question.

synapsesocial.com/papers/69a3d800ec16d51705d2e8a3https://doi.org/10.1108/sbr-10-2024-0346
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Also Consider

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