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This paper aims to determine whether financial performance is affected in firms adopting separately or jointly two sustainability tools (green innovation and environmental, social and governance reporting (ESG)).

The empirical study examines a sample of 211 S&P 500 firms over the 2011 to 2019 period and uses the quantile estimation method.

The results show that two dimensions of ESG disclosure (the social and governance dimensions) and green innovation positively affect financial performance. This result suggests that sustainability tools have a strong financial impact. The positive relationship between green innovation and financial performance is detected at the 10th quantile up to the 70th quantile. This finding suggests that financial performance needs a moderate investment in green innovation. When considering the joint effect of ESG disclosure and green innovation, our findings show that the positive impact of some ESG disclosure dimensions (social and governance) on financial performance is more observable with a moderate investment in green innovation.

This study highlights the prominent role of sustainability tools in financial performance. Despite the contributions of the literature, to our knowledge, the relationship between these tools and financial performance is not yet comprehensively investigated. Sustainability is less studied from the social movement perspective. This paper is among the few to study the effect of ESG reporting on financial performance in a world of green innovation.

There are several studies on various aspects of the disclosure of companies but there is little research on elements related to the disclosure of innovation in particular. The work aims to fill this important gap by examining to what extent the companies listed on the Italian Stock Exchange, which prepare the sustainability report (non-financial declaration – NFS), disseminate information relating to innovative activities.

The methodology used to achieve the research goal has used multiple linear regression models (OLS), to study the factors that influence disclosure. The data were collected through the content analysis. The sample is made up of 171 companies listed on the Italian stock exchange which prepared a sustainability report for the period of four years 2016–2019 (Sustainability Reports and Integrated Documentation) and which contain information on innovative activity.

The research confirms a positive relationship between information on innovation and the economic variables of corporate investment. In addition, an important relationship emerges linked to the disclosure of innovative information and the business sector, innovation investments and R&D activity.

The work suffers from some limitations: the short period of observation subject to analysis, the lack of sustainability report 2020, the extension of the variables taken into consideration for the implementation of the regression models; it is desirable to consider a wider pool of variables in the future in order to implement further specific tests.

On a practical level, the research suggests the adoption of a framework on the dissemination of innovative activity that allows easy reading of information (regardless of the sector and company size), built starting from the most representative keywords of the activities innovative, to be included in a specific section of the Sustainability Report. This work contributes to filling a cognitive gap connected to the disclosure of the innovative activity. There is much research on disclosure related to business activities, but no specific research regarding the communication of innovation.

The study conducted contributes to fill a gap in the literature related to the disclosure of the innovative activity. The latter is a strategic element for effective and clear communication with stakeholders.

The primary objective of this study is to unveil the relationships that interconnect ESG and three pillars disclosures with technological innovation while also investigating the moderating impact of product market competition. The paper seeks to identify the underlying mechanisms that facilitate technological innovation in sustainable management.

Using data from 8,738 Chinese firms from 2011 to 2019, this study employs quantitative analysis to examine the relationship between ESG disclosure and technological innovation and the moderating effect. Moreover, this study explores the heterogeneous impacts while considering factors such as property rights and firm size.

The findings reveal a positive correlation between ESG disclosure and technological innovation. The study also investigates the moderating role of product market competition and finds that increasing competition mitigates the positive effects of ESG disclosure on technological innovation. Additionally, the conclusions reveal that the relationship between ESG and three pillars disclosures and technological innovation, as well as the moderating role of product market competition, exhibits inconsistency across firms with different property rights and sizes.

This study offers a clear understanding of the relationship between ESG disclosures and technological innovation, and how it varies across businesses of different sizes and ownership structures. It also provides fresh perspectives on the influence of product market competition on this relationship, with implications for strategy development in corporations.

The paper examines whether, along with the financial performance, the disclosure of research and development (R&D) expenses, patent portfolios, patent citations and innovation activities affect the market capitalization of Russian companies.

The paper opted for a set of techniques including bag-of-words (BoW) to retrieve additional innovation-related data from companies' annual reports, self-organizing maps (SOM) to perform visual exploratory analysis and panel data regression (PDR) to conduct confirmatory analysis using data on 74 Russian publicly traded companies for the period 2013–2019.

The paper observes that the disclosure of nonfinancial data on R&D, patents and primarily product and marketing innovations positively affects the market capitalization of the largest Russian companies, which are mainly focused on energy, raw materials and utilities and are operating on international markets. The study suggests that these companies are financially well-resourced to innovate at risk and thus to provide positive signals to stakeholders and external agents.

Our findings are important to management, investors, financial analysts, regulators and various agencies providing guidance on corporate governance and sustainability reporting. However, the authors acknowledge that the research results may lack generalizability due to the sample covering a single national context. Researchers are encouraged to test the proposed approach further on other countries' data by using the compiled lexicons.

The study aims to expand the domains of signaling theory and market valuation by providing new insights into the impact that companies' reporting on R&D, patents and innovation activities has on market capitalization. New nonfinancial factors that previous research does not investigate – innovation disclosure indicators (IDI) – are tested.

The purpose of this paper is to investigate to what extent the amount, information source and the content of the microblog information disclosure of listed companies could impact on innovation from the perspective of financing constraints.

The propensity score matching (PSM) and two-stage least square (2SLS) are used in estimations to deal with the endogeneity problem.

Evidence shows that the amount of we-media information disclosure significantly drives the innovation of enterprises. The mechanism is that we-media information disclosure drives the innovation by easing the financing constraints and bringing funds to the R&D activities. Further research shows that only the original information can drive the innovation. In particular, the R&D information promotes the R&D input and innovation output more significantly.

The conclusion of this paper provides a reference for the listed companies to drive innovation with the help of we-media information disclosure, a new solution for the small and medium-sized listed companies in China which have difficulty in carrying out innovation activities due to financing constrains and also provides useful practical enlightenment for the government and the capital market regulatory authorities to issue relevant policies to regulate we-media information disclosure.

This paper introduces a new information disclosure channel--we-media into the research on influencing factors of innovation and discusses the influence of the amount, different sources and disclosure contents from we-media on enterprise innovation, which enriches the existing research on enterprise innovation influencing factors, providing a new perspective for driving enterprises to innovate.

The purpose of this paper is to investigate the incidence of International Financial Reporting Standard (IFRS) on stock market assessment of intangibles and voluntary disclosure about innovation.

The authors develop three regression models. The first model investigates the stock market valuation of intangible assets and disclosure about innovation. The second model desegregates earnings to assess the relevance of components related to intangibles. The third model investigates how intangible expenses and voluntary disclosure affect analysts forecast dispersion.

Results show that the value relevance of intangible assets and expenses improves with the adoption of IAS 38. Overall, results indicate a decrease in the value relevance of voluntary disclosure about innovation under IFRS. More specifically, results suggest some overlap in the information content of mandated and voluntary disclosure for stock market valuation of intangible assets under IFRS. Findings also suggest that voluntary disclosure moderates market's assessment of expensed intangibles under both Canadian GAAP and IFRS.

IAS 38 requires entities to recognize an intangible asset if certain criteria are met and to disclose specific information about it. In such a context, market participants may refer to a greater extent to financial reporting and to a lesser extent to voluntary disclosure when valuating intangibles.

Managers will have an incentive to better target their communications to ensure a degree of complementarity with financial reporting. In this sense, this study contributes to the voluntary disclosure literature.

To the best of the authors' knowledge, this is the first study to investigate the relationship between mandatory disclosure and voluntary disclosure about intangibles and evaluate the impact of IFRS on this matter.

This study aims to propose a conceptual framework to examine the impact of corporate social responsibility (CSR) and green organizational culture (GOC) on green innovation with the moderating role of environmental, social and governance (ESG) disclosure in the Malaysian manufacturing industry.

The study is based on primary data to be collected from 204 manufacturing enterprises of consumers, products and services sector through a questionnaire that incorporates the five-point Likert scale. The exploratory factor analysis is proposed to be performed using SPSS 24.0 and confirmatory factor analysis is suggested to be conducted using AMOS.21 software to explore the factors and reliability of the items and to confirm the factorial structure of pertinent variables, respectively. Furthermore, partial least square structural equation modeling is proposed to investigate relationships between constructs and latent variables.

The proposed framework suggests that the comprehensive adoption of CSR and GOC with the moderating role of ESG disclosure has a significant and positive impact on green innovation.

This study provides insights into formulating strategies for enhancing green innovation and serves as a valuable resource for stakeholders for sustainable development in manufacturing enterprises.

To the best of the authors’ knowledge, regarding originality, this is the first attempt at conceptualizing the integrated framework of CSR, GOC, green innovation and ESG disclosure for collective examination that is likely to extend the existing literature. Furthermore, this study extends stakeholders and resource-based view theory by proving their utility in the perspective of CSR, GOC, green innovation and ESG disclosure to achieve environmental sustainability.

This study aims to verify the influence of stakeholders on Disruptive Innovation Disclosure (DID) by using company size as a control variable. DID is measured using the DID index. The authors use panel data regression with the period 2011–2020. Observations were made on 198 companies throughout the year in companies around the world. This study proves that shareholders, customers, suppliers, and company size are dimensions that affect DID. This situation shows that these dimensions have the power to control DID. The average company in the world has provided information about disruptive innovation. The scope of this research is limited to countries that have a visualization network of disruptive innovation collaboration in as many as 15 countries. The value of this study is to portray DID in countries that have disruptive innovation collaborative visualization networks.

Climate change is one of our time’s most pressing global environmental challenges, and environmental innovation is critical to addressing it. This study aims to investigate the relationship between environmental innovation and carbon emission in the healthcare industry in Europe while also examining the moderating role of environmental governance.

Data for this study were collected from publicly listed healthcare companies in ten European countries spanning the years 2012–2021. The selected countries encompassed Belgium, Denmark, France, Germany, Italy, Netherlands, Spain, Sweden, Switzerland and the United Kingdom. The research encompassed all healthcare companies for which data were accessible, resulting in a comprehensive dataset comprising 1,210 companies. The authors collected data from multiple sources, including annual reports, the World Bank and Eikon databases, to ensure a robust and extensive dataset.

The results of this study indicate that environmental governance plays a significant moderating role in the relationship between environmental innovation and carbon emission within the healthcare sector in Europe, but when combined with high levels of environmental innovation, strong environmental governance leads to enhanced efforts to reduce carbon emissions. This combination also contributes to meeting the expectations of a broader range of stakeholders and maintaining legitimacy.

The study’s findings have practical implications for healthcare regulators, policymakers and various stakeholders. It underscores the importance of integrating solid environmental governance and innovation to address climate change challenges in the healthcare sector effectively. This integrated approach not only helps reduce carbon emissions but also contributes to achieving sustainable outcomes while satisfying a wider range of stakeholders.

This study adds to the existing body of knowledge by highlighting the significant role of environmental governance as a moderator in the relationship between environmental innovation and carbon emission in the healthcare industry. The research findings provide valuable insights for academics, practitioners and decision-makers, emphasizing the need to combine governance and innovation for sustainable outcomes in healthcare sectors.

This paper aims to examines whether Chinese firms’ signals of green governance, including environmental management, green innovation, and greenhouse gas (GHG) and pollution emission, vary significantly with their ownership structure and aim of being environmentally sensitive.

From corporate social responsibility (CSR)-China website and CNINFO, a total of 781 CSR reports released during 2008-2010 were collected. The collected data were coded and analyzed using content analysis.

In overall disclosure of environmental protection information (TotalEP), no significant difference existed between state-owned enterprises (SOEs) and privately owned enterprises (POEs). Chinese environmentally sensitive industries (ESIs) have a tendency to disclose significantly more information about their actions of environmental protection than their counterparts. Moreover, SOEs and ESIs scored higher than their counterparts on energy saving and carbon reduction and development of circular economy. A steady increase was also observed in the disclosure ratio for CO₂ emission. During 2008-2010, SOEs and ESIs were relatively more committed to the disclosure of SO₂ emission as compared to other emission items.

Managers should disclose signals of green governance actively to avoid adverse selection caused by information asymmetry which further lower their financing cost.

There is still a lack of evidence as to whether Chinese firms are implementing actions to slow down climate change. This paper endeavours to provide an insight into Chinese firms’ compliance with the green governance requirements of the Eleventh Five-Year Plan. The study hopes to fill the current gap in understanding the environmental behaviours of Chinese firms under pressure to alleviate climate change.