An Empirical Analysis of the Determinants of Greenhouse Gas Voluntary Disclosure in Australia

Zahra Borghei-Ghomi, Philomena Leung


Based on a comprehensive theoretical framework, we investigate the determinants of greenhouse gas emission (GHG) voluntary disclosure of non GHG registered companies. Previous studies assessed the determinants of GHG voluntary disclosure of firms subject to environmental regulation, risk and liabilities. We also employ proxies of voluntary disclosure theory and agency theory in addition to the stakeholder theory and legitimacy theory used in prior studies. The content analysis for the period 2009 to 2011 shows a positive association between GHG voluntary disclosure, firm size and corporate governance. Further, firms with superior GHG performance are more likely to engage in discretionary disclosure, and listing status plays a significant role in GHG disclosure decision which suggests that stakeholders’ interests also determine disclosure decisions.

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Accounting and Finance Research
ISSN 1927-5986 (Print)   ISSN 1927-5994 (Online)

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