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Empirical Study on Carbon Accounting Information and Corporate Value

Research Project

Project/Area Number 24530589
Research Category

Grant-in-Aid for Scientific Research (C)

Allocation TypeMulti-year Fund
Section一般
Research Field Accounting
Research InstitutionKwansei Gakuin University

Principal Investigator

SAKA Chika  関西学院大学, 商学部, 教授 (10309403)

Co-Investigator(Kenkyū-buntansha) OSHIKA Tomoki  早稲田大学, 商学学術院, 教授 (90329160)
Project Period (FY) 2012-04-01 – 2016-03-31
Project Status Completed (Fiscal Year 2015)
Budget Amount *help
¥5,070,000 (Direct Cost: ¥3,900,000、Indirect Cost: ¥1,170,000)
Fiscal Year 2014: ¥1,430,000 (Direct Cost: ¥1,100,000、Indirect Cost: ¥330,000)
Fiscal Year 2013: ¥1,950,000 (Direct Cost: ¥1,500,000、Indirect Cost: ¥450,000)
Fiscal Year 2012: ¥1,690,000 (Direct Cost: ¥1,300,000、Indirect Cost: ¥390,000)
Keywordsカーボン会計情報 / サステナビリティKPI / 気候変動対策 / 非財務情報 / カーボン / 企業価値 / サステナビリティ / KPI / カーボン会計
Outline of Final Research Achievements

1.We find that (1) corporate carbon emissions have a negative relation with the market value of equity, (2) the disclosure of carbon management has a positive relation with the market value of equity, and (3) the positive relation between the disclosure of carbon management and the market value of equity is stronger with a larger volume of carbon emissions.
2.We use the Sustainability Balanced Scorecard (SBSC) to show how it pays to be green. We map a Carbon SBSC strategy map, selecting environmental and financial indicators to include, then conduct an empirical study. We find to hypothesized relationships displayed on the Carbon SBSC.
3.We focus on firms that have survived for more than 100 years, and analyze these firms to reveal their financial features. We find two facts: the value added that is distributed to stakeholders other than shareholders is larger, and the stability of profitability are higher, in sustainable firms. We propose these as sustainability KPIs.

Report

(5 results)
  • 2015 Annual Research Report   Final Research Report ( PDF )
  • 2014 Research-status Report
  • 2013 Research-status Report
  • 2012 Research-status Report
  • Research Products

    (21 results)

All 2016 2015 2014 2013 2012 Other

All Journal Article (9 results) (of which Peer Reviewed: 4 results,  Open Access: 1 results) Presentation (12 results) (of which Int'l Joint Research: 2 results,  Invited: 1 results)

  • [Journal Article] Asset Retirement Obligations Standard and Value Relevance2016

    • Author(s)
      Saka, C. and Noda, A.
    • Journal Title

      International Review of Business

      Volume: 16 Pages: 1-16

    • NAID

      120005716498

    • Related Report
      2015 Annual Research Report
    • Peer Reviewed / Open Access
  • [Journal Article] 東アジアにおけるCRS情報開示と社会的価値2015

    • Author(s)
      阪智香
    • Journal Title

      関西学院商学論究

      Volume: 63 Pages: 1-24

    • Related Report
      2015 Annual Research Report
  • [Journal Article] 統合報告をめぐる国際的な研究動向とKPIの提言2015

    • Author(s)
      阪 智香
    • Journal Title

      會計

      Volume: 187 Pages: 97-111

    • Related Report
      2014 Research-status Report
  • [Journal Article] The IASB's Discussion Paper on the Conceptual Framework for Financial Reporting: A Commentary and Research Review2015

    • Author(s)
      Elizabeth A. Gordon, Jannis Bischof, Holger Daske, Paul Munter, Chika Saka, Kimberly J. Smith, Elmar R. Venter,
    • Journal Title

      Journal of International Financial Management & Accounting

      Volume: 26 Pages: 72-110

    • Related Report
      2014 Research-status Report
  • [Journal Article] Market Valuation of Recognised Environmental Liabilities2015

    • Author(s)
      Chika Saka, Akihiro Noda, Katsuhiko Kokubu
    • Journal Title

      International Review of Business

      Volume: 15 Pages: 1-24

    • NAID

      120005555734

    • Related Report
      2014 Research-status Report
    • Peer Reviewed
  • [Journal Article] Connecting the Environmental Activities of Firms with the Return on Carbon (ROC): Mapping and Empirically Testing the Sustainability Balanced Scorecard (SBSC)2014

    • Author(s)
      Oshika, T., Oka, S. and Saka, C.
    • Journal Title

      The Journal of Management Accounting, Japan

      Volume: Supplement 2 Pages: 81-97

    • Related Report
      2013 Research-status Report
    • Peer Reviewed
  • [Journal Article] Disclosure Effects, Carbon Emissions and Corporate Value2014

    • Author(s)
      C. Saka and T. Oshika
    • Journal Title

      Sustainability Accounting, Management and Policy Journal

      Volume: 5 Issue: 1 Pages: 22-45

    • DOI

      10.1108/sampj-09-2012-0030

    • Related Report
      2013 Research-status Report
    • Peer Reviewed
  • [Journal Article] 人的支出と企業価値の関連性 -賃下げは企業価値向上をもたらすか-2013

    • Author(s)
      大鹿智基
    • Journal Title

      早稻田商學

      Volume: 第434号 Pages: 289-311

    • NAID

      120005290618

    • Related Report
      2012 Research-status Report
  • [Journal Article] 土壌汚染浄化活動を支援する会計・マネジメントツール2012

    • Author(s)
      阪智香
    • Journal Title

      関西学院商学論究

      Volume: 第60巻第1・2号 Pages: 289-306

    • Related Report
      2012 Research-status Report
  • [Presentation] Sustainability KPIs for Integrated Reporting2015

    • Author(s)
      Oshika, T. and Saka, C.
    • Organizer
      Korean International Accounting Association 2015 Annual Meeting
    • Place of Presentation
      Kunsan National University, Kunsan, Korea
    • Year and Date
      2015-11-07
    • Related Report
      2015 Annual Research Report
    • Int'l Joint Research
  • [Presentation] Sustainability KPIs for Integrated Reporting2015

    • Author(s)
      Oshika, T. and Saka, C.
    • Organizer
      American Accounting Association 2015 Annual Meeting
    • Place of Presentation
      Chicago, U.S.A.
    • Year and Date
      2015-08-12
    • Related Report
      2015 Annual Research Report
    • Int'l Joint Research
  • [Presentation] Created Value as Sustainability KPIs for Integrated Reporting2015

    • Author(s)
      Tomoki Oshika
    • Organizer
      Accounting and Control Seminar Series
    • Place of Presentation
      INSEAD, France
    • Year and Date
      2015-03-05
    • Related Report
      2014 Research-status Report
  • [Presentation] 統合報告をめぐる実証研究-長寿企業データを用いたパイロット・テストの紹介-2014

    • Author(s)
      大鹿 智基
    • Organizer
      日本管理会計学会2014年度第3回フォーラム
    • Place of Presentation
      甲南大学
    • Year and Date
      2014-12-06
    • Related Report
      2014 Research-status Report
  • [Presentation] Cultural Influence on Corporate Social Responsibility Disclosure in East Asia2014

    • Author(s)
      Chika Saka
    • Organizer
      IAAER(International Association for Accounting Education & Research ) World Congress
    • Place of Presentation
      University of Florence, Italy
    • Year and Date
      2014-11-14
    • Related Report
      2014 Research-status Report
  • [Presentation] 東アジアにおけるCSR情報開示2014

    • Author(s)
      阪 智香
    • Organizer
      日本社会関連会計学会全国大会
    • Place of Presentation
      関西大学
    • Year and Date
      2014-10-04
    • Related Report
      2014 Research-status Report
  • [Presentation] 統合報告をめぐる国際的な研究動向2014

    • Author(s)
      阪 智香
    • Organizer
      日本会計研究学会第73回大会
    • Place of Presentation
      横浜国立大学
    • Year and Date
      2014-09-05 – 2014-09-06
    • Related Report
      2014 Research-status Report
  • [Presentation] Disclosure Effects, Carbon Emissions and Corporate Value

    • Author(s)
      Oshika, T. and Saka, C
    • Organizer
      American Accounting Association 2013 Annual Meeting, August 2013
    • Place of Presentation
      Anaheim, USA
    • Related Report
      2013 Research-status Report
  • [Presentation] Disclosure Effects, Carbon Emissions and Corporate Value

    • Author(s)
      Oshika, T. and Saka, C
    • Organizer
      The Seventh Asia Pacific Interdisciplinary Research in Accounting Conference
    • Place of Presentation
      International Conference Center, Kobe
    • Related Report
      2013 Research-status Report
  • [Presentation] Some Hints for the Research Process and Methodologies

    • Author(s)
      Saka, C.
    • Organizer
      The Seventh Asia Pacific Interdisciplinary Research in Accounting Conference, Emerging Scholars’ Colloquium
    • Place of Presentation
      International Conference Center, Kobe
    • Related Report
      2013 Research-status Report
    • Invited
  • [Presentation] 長寿企業の財務的特徴-収益性、財務報告の質、付加価値分配の分析

    • Author(s)
      大鹿智基・阪智香
    • Organizer
      日本会計研究学会第72回大会
    • Place of Presentation
      中部大学
    • Related Report
      2013 Research-status Report
  • [Presentation] Why It Pays to Be Green? : An Empirical Investigation of Carbon SBSC

    • Author(s)
      Oshika, T., Saka, C. and Oka, S.
    • Organizer
      American Accounting Association Annual Meeting 2012
    • Place of Presentation
      Washignton D.C. (U.S.A.)
    • Related Report
      2012 Research-status Report

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Published: 2013-05-31   Modified: 2019-07-29  

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