A cross-country analysis of corporate carbon performance: An international investment perspective

Louis T.W. Cheng, Jianfu Shen, Michal Wojewodzki

Research output: Journal article publicationJournal articleAcademic researchpeer-review

1 Citation (Scopus)


In this study, we examine corporate carbon performance globally from the perspective of country-level dispersion. The average carbon performance of listed companies in the non-OECD countries increases more after the Paris Agreement than that of listed companies in the OECD countries. However, under an increasing trend of average country-level carbon performance, the dispersion of corporate carbon performance is reduced more in the OECD countries vis-à-vis the non-OECD countries. In addition, international equity ownership is negatively associated with the dispersion of country-level corporate carbon performance in the post-Paris Agreement period. This finding supports our conjecture that sophisticated foreign investors from developed countries exert a significant positive influence on the carbon management efficiency of domestic firms in developing countries.

Original languageEnglish
Article number101888
JournalResearch in International Business and Finance
Publication statusPublished - Jan 2023


  • Carbon Performance
  • ESG
  • International ownership
  • OECD

ASJC Scopus subject areas

  • Business, Management and Accounting (miscellaneous)
  • Finance


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