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The Accounting Review· 2013Q1

Firm-Value Effects of Carbon Emissions and Carbon Disclosures

Ella Mae Matsumura, Rachna Prakash, Sandra C. Vera‐Muñoz

Short summary

Firms that voluntarily disclose carbon emissions are valued $2.3 billion higher on average than non-disclosers, and each additional thousand metric tons of carbon emissions decreases firm value by $212,000.

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Field: Strategy and Management

Strategy and ManagementBusiness, Management and Accounting