A cheap exercise in dubious correlation that pretends no other news affects stock prices.
The Daily Climate reports,
Disclosures about greenhouse gas emissions and carbon-reduction strategies can lift a company’s economic value, a new study has found.
Investors are saying they would prefer to invest in an environmentally responsible firm. – Paul Griffin, University of California, Davis
Business scholars tracking stock prices of 172 firms in the days after those companies voluntarily released carbon emission information found that prices jumped an average of just under half a percent over five days.
Smaller companies, the researchers found, saw bigger effects – an average of 2.3 percent increase in the value of their shares in the wake of the emissions disclosure.
The report, conducted by researchers at the University of California, Davis, and University of California, Berkeley, and released Monday, compared the stock movements of companies releasing emissions information to similar companies that did not disclose carbon information during the same time periods.
Researchers tracked stock prices of the companies from two days before the information was released to two days after.
Companies that did not release information saw no statistical change in their stock values over that period, the researchers said…