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An examination of corporate environmental goals disclosure, sustainability performance and firm value – An Egyptian evidence

Helfaya, Akrum; Aboud, Ahmed; Amin, Essam

Authors

Ahmed Aboud

Essam Amin



Abstract

This paper explores the status quo of environmental goals disclosure (EGD) and empirically tests its impact on Egyptian corporate sustainability ratings and firm value. We find that Egyptian companies show a large degree of variability and inconsistency in their EGDs. However, EGDs have a positive impact on sustainability ratings and firm value. Companies that release more EGDs are more likely to gain membership in the Egyptian Sustainability Index and attain a high sustainability rank, to which the capital market reacts positively. Our findings have important implications, particularly for policymakers, companies, investors, environmental activists, and other stakeholder groups in developing nations. This study contributes insights from EGD practices in Egypt to the existing literature on corporate social responsibility (CSR) in developing nations. It also helps to resolve the conflicting predictions of socio-political theories and the voluntary disclosure theory, showing how both perspectives help to explain the relationships among corporate EGDs, sustainability ratings, and firm.

Citation

Helfaya, A., Aboud, A., & Amin, E. (2023). An examination of corporate environmental goals disclosure, sustainability performance and firm value – An Egyptian evidence. Journal of International Accounting, Auditing and Taxation, 52, Article 100561. https://doi.org/10.1016/j.intaccaudtax.2023.100561

Journal Article Type Article
Acceptance Date Aug 26, 2022
Online Publication Date Jul 10, 2023
Publication Date 2023-09
Deposit Date May 30, 2023
Publicly Available Date Jul 11, 2025
Journal Journal of International Accounting, Auditing and Taxation
Print ISSN 1061-9518
Electronic ISSN 1879-1603
Publisher Elsevier
Peer Reviewed Peer Reviewed
Volume 52
Article Number 100561
DOI https://doi.org/10.1016/j.intaccaudtax.2023.100561
Keywords Environmental goals, Sustainability disclosure, sustainability ratings, Firm value, Egypt.