Hao Ren

Carbon information disclosure (CID), as a key dimension of sustainability reporting, remains underexplored regarding its value relevance versus its role in impression management. Using text-based content analysis of A-share listed firms on the Shanghai and Shenzhen Stock Exchanges from 2007 to 2021, this study constructs a multidimensional CID quality index. The results show that CID significantly inhibits asset mispricing through strengthening corporate reputation and enhancing information transparency. In terms of economic significance, a one-standard-deviation increase in CID reduces the degree of mispricing by approximately 8.36%. This effect is more pronounced among firms with greater media exposure, higher digital transformation, and stronger investor attention. This study extends the literature on the economic consequences of CID by moving beyond firm-level outcomes to examine capital market dynamics and enriches the determinants of asset mispricing by introducing a sustainability reporting. It provides new insights for policymakers promoting high-quality CID in support of sustainable development.

This research uses an experimental approach to investigate the relationship between market orientation of a company and its level of success in international business. The aim of the study was to develop and use a market orientation scale that is appropriate to the sector. It was discovered that there are four hidden traits that drive market orientation. These include customers, rivals, departmental response, and overall customer satisfaction. According to the results, orientation toward one's customers is more essential than any of the other traits, while orientation toward one's competitors has an inverted U-shaped connection with performance. The performance of the firm was not found to correlate in any way with the responsiveness of its departments. With the help of the comprehensive conceptualization, managers are able to develop specific kinds of orientations that are essential for higher levels of performance.