Green signaling or greenwashing? ESG disclosure, firm performance and capital allocation in BRICS equity markets

PurposeThis study investigates whether environmental, social and governance (ESG) disclosures are priced in capital markets and influence institutional investment in BRICS countries. It explores whether the credibility and financial impact of ESG signals depend on national governance quality.Design/...

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Autores principales:	Lemuel Kenneth David, Jianling Wang, Meiling Luo, Idrissa I. Cisse
Formato:	Artigo
Lenguaje:	Inglês
Publicado:	Emerald Publishing 2025-10-01
Colección:	Journal of Capital Markets Studies
Materias:	ESG disclosure Firm valuation Institutional ownership Capital allocation BRICS markets Governance quality Emerging markets finance Sustainability signaling Panel data analysis Tobin's Q Refinitiv ESG scores Market-based ESG response
Acceso en línea:	https://www.emerald.com/jcms/article-pdf/9/2/169/10334153/jcms-06-2025-0080en.pdf
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