Green banking disclosure, firm value and the moderating role of a contextual factor: Evidence from a distinctive regulatory setting
研究了孟加拉国银行绿色披露对企业价值的影响，发现不良贷款会削弱绿色披露的正面作用，表明绿色披露本身不足以提升银行市场价值。
Abstract The idea that green banking disclosure leads to increased firm value has been rightly considered as over‐simplistic. This paper builds on key prior insights by investigating whether combining green disclosure with other contextual factor, such as non‐performing loans, provides additional insight into the complex green disclosure–firm value relationship in a regulatory setting where green law has recently been enacted for the banking industry. We present an analysis of seven years of data sourced from listed banks in Bangladesh (2008–2014), with data analysed using multiple regression. Our findings indicate that, while green disclosure has a positive effect on the overall firm value of banks, this positive effect is negatively moderated by banks' non‐performing loans. This research contributes to the knowledge by showing that green disclosure alone is insufficient for creating market value for banks. Additional contextual matters need attention to understand the impact of green disclosure in contributing to increased market value for banks.