---
_id: '7890'
abstract:
- lang: eng
  text: 'The purpose of this paper is to convey a thorough understanding of the governance-related
    determinants and financial consequences of carbon performance and disclosure.
    Its motivation lies in the increasing global political, social, academic as well
    as practical importance of managing and reporting on carbon-related issues. Methodologically,
    we employ a systematic literature review. Thus, we identify 73 quantitative peer-reviewed
    empirical studies in this field and categorize them according to a legitimacy-theory-based
    framework. Our four main contributions offer new insights into this emerging research
    field and provide guidance for the development of new research models: First,
    we help future researchers to structure this emerging field of research with respect
    to the interactions of the phenomenon itself (carbon performance vs. disclosure),
    its determinants (country- and firm-related governance), and its financial consequences
    (value relevance, information asymmetry, financial performance, and cost of capital).
    Second, we provide a comprehensive overview of variables and proxies used in the
    studies and list their main statistical effects, which facilitates building novel
    models. There are indications that 1) board composition positively influences
    both carbon performance and disclosure, 2) carbon performance and carbon disclosure
    are positively connected, 3) carbon disclosure reduces information asymmetry,
    and 4) carbon performance increases financial performance. Third, we develop a
    research agenda with concise suggestions for future studies. Fourth, we argue
    that due to the under-theorization of concepts the comparability of included studies
    is challenging, this research field may be characterized as a vibrant field for
    extensive future research. (C) 2020 Elsevier Ltd. All rights reserved.'
article_number: '120063'
author:
- first_name: Patrick
  full_name: Velte, Patrick
  last_name: Velte
- first_name: Martin
  full_name: Stawinoga, Martin
  id: '68681'
  last_name: Stawinoga
- first_name: Rainer
  full_name: Lueg, Rainer
  last_name: Lueg
citation:
  ama: 'Velte P, Stawinoga M, Lueg R. Carbon performance and disclosure: A systematic
    review of governance-related determinants and financial consequences. <i>Journal
    of Cleaner Production</i>. 2020;254. doi:<a href="https://doi.org/10.1016/j.jclepro.2020.120063">10.1016/j.jclepro.2020.120063</a>'
  apa: 'Velte, P., Stawinoga, M., &#38; Lueg, R. (2020). Carbon performance and disclosure:
    A systematic review of governance-related determinants and financial consequences.
    <i>Journal of Cleaner Production</i>, <i>254</i>, Article 120063. <a href="https://doi.org/10.1016/j.jclepro.2020.120063">https://doi.org/10.1016/j.jclepro.2020.120063</a>'
  bjps: '<b>Velte P, Stawinoga M and Lueg R</b> (2020) Carbon Performance and Disclosure:
    A Systematic Review of Governance-Related Determinants and Financial Consequences.
    <i>Journal of Cleaner Production</i> <b>254</b>.'
  chicago: 'Velte, Patrick, Martin Stawinoga, and Rainer Lueg. “Carbon Performance
    and Disclosure: A Systematic Review of Governance-Related Determinants and Financial
    Consequences.” <i>Journal of Cleaner Production</i> 254 (2020). <a href="https://doi.org/10.1016/j.jclepro.2020.120063">https://doi.org/10.1016/j.jclepro.2020.120063</a>.'
  chicago-de: 'Velte, Patrick, Martin Stawinoga und Rainer Lueg. 2020. Carbon performance
    and disclosure: A systematic review of governance-related determinants and financial
    consequences. <i>Journal of Cleaner Production</i> 254. doi:<a href="https://doi.org/10.1016/j.jclepro.2020.120063">10.1016/j.jclepro.2020.120063</a>,
    .'
  din1505-2-1: '<span style="font-variant:small-caps;">Velte, Patrick</span> ; <span
    style="font-variant:small-caps;">Stawinoga, Martin</span> ; <span style="font-variant:small-caps;">Lueg,
    Rainer</span>: Carbon performance and disclosure: A systematic review of governance-related
    determinants and financial consequences. In: <i>Journal of Cleaner Production</i>
    Bd. 254.  Amsterdam [u.a.], Elsevier (2020)'
  havard: 'P. Velte, M. Stawinoga, R. Lueg, Carbon performance and disclosure: A systematic
    review of governance-related determinants and financial consequences, Journal
    of Cleaner Production. 254 (2020).'
  ieee: 'P. Velte, M. Stawinoga, and R. Lueg, “Carbon performance and disclosure:
    A systematic review of governance-related determinants and financial consequences,”
    <i>Journal of Cleaner Production</i>, vol. 254, Art. no. 120063, 2020, doi: <a
    href="https://doi.org/10.1016/j.jclepro.2020.120063">10.1016/j.jclepro.2020.120063</a>.'
  mla: 'Velte, Patrick, et al. “Carbon Performance and Disclosure: A Systematic Review
    of Governance-Related Determinants and Financial Consequences.” <i>Journal of
    Cleaner Production</i>, vol. 254, 120063, 2020, <a href="https://doi.org/10.1016/j.jclepro.2020.120063">https://doi.org/10.1016/j.jclepro.2020.120063</a>.'
  short: P. Velte, M. Stawinoga, R. Lueg, Journal of Cleaner Production 254 (2020).
  ufg: '<b>Velte, Patrick/Stawinoga, Martin/Lueg, Rainer</b>: Carbon performance and
    disclosure: A systematic review of governance-related determinants and financial
    consequences, in: <i>Journal of Cleaner Production</i> 254 (2020).'
  van: 'Velte P, Stawinoga M, Lueg R. Carbon performance and disclosure: A systematic
    review of governance-related determinants and financial consequences. Journal
    of Cleaner Production. 2020;254.'
date_created: 2022-05-03T06:22:51Z
date_updated: 2025-06-26T13:27:09Z
department:
- _id: DEP1507
doi: 10.1016/j.jclepro.2020.120063
external_id:
  isi:
  - '000518890800021'
intvolume: '       254'
isi: '1'
jel:
- M41
keyword:
- Carbon performance
- Carbon disclosure
- Corporate governance
- Management control
- Financial performance
- Legitimacy theory
language:
- iso: eng
place: ' Amsterdam [u.a.]'
publication: Journal of Cleaner Production
publication_identifier:
  eissn:
  - 1879-1786
  issn:
  - 0959-6526
publication_status: published
publisher: Elsevier
quality_controlled: '1'
status: public
title: 'Carbon performance and disclosure: A systematic review of governance-related
  determinants and financial consequences'
type: scientific_journal_article
user_id: '83781'
volume: 254
year: '2020'
...