Green Finance Disclosure and Firm Value: An Analysis of Banks Listed on the Egyptian Stock Exchange.
Esmail, E., Riyad, E., El-Meligy, H. (2025). Green Finance Disclosure and Firm Value: An Analysis of Banks Listed on the Egyptian Stock Exchange.. EKB Journal Management System, 4(2), 18-38. doi: 10.21608/ijesr.2025.433065
Engy Esmail; Emad Riyad; Hisham El-Meligy. "Green Finance Disclosure and Firm Value: An Analysis of Banks Listed on the Egyptian Stock Exchange.". EKB Journal Management System, 4, 2, 2025, 18-38. doi: 10.21608/ijesr.2025.433065
Esmail, E., Riyad, E., El-Meligy, H. (2025). 'Green Finance Disclosure and Firm Value: An Analysis of Banks Listed on the Egyptian Stock Exchange.', EKB Journal Management System, 4(2), pp. 18-38. doi: 10.21608/ijesr.2025.433065
Esmail, E., Riyad, E., El-Meligy, H. Green Finance Disclosure and Firm Value: An Analysis of Banks Listed on the Egyptian Stock Exchange.. EKB Journal Management System, 2025; 4(2): 18-38. doi: 10.21608/ijesr.2025.433065

Green Finance Disclosure and Firm Value: An Analysis of Banks Listed on the Egyptian Stock Exchange.

International Journal of Environmental Studies and Researches
Volume 4, Issue 2, June 2025, Page 18-38  XML PDF (1.27 MB)
Document Type: Original scientific articles
DOI: 10.21608/ijesr.2025.433065
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Authors
Engy Esmail email 1; Emad Riyad1; Hisham El-Meligy2
1Environmental Studies and Research Institute, University of Sadat City, Egypt
2Faculty of Commerce and Business Administration, Helwan University, Egypt
Abstract
Abstract
This pioneering study seeks to examine the effect of green (sustainable) finance disclosure on firm value within environmentally responsibility of banks in Egypt. The research employs content analysis to measure green financial disclosure as an independent variable and evaluates its impact on firm value using Tobin’s Q ratio as a proxy. The research is based on an applied study of 10 banks listed on the Egyptian Stock Exchange, covering the period from 2020 to 2023. Correlation results reveal a minor positive relationship between green finance disclosure and firm value, and the regression analysis demonstrates a statistically significant positive influence of green finance disclosure on firm value. However, control variables did not present any significant relationships. The findings underscore the need for further research with larger datasets and additional criteria to deepen understanding of the relationship between green financial disclosure and firm value. Additionally, the study recommends the development of an accounting standard to regulate the measurement and disclosure of green finance in annual financial reports, highlighting its potential to improve and enhance firm value.
 
Keywords
Keywords: Green (sustainable) finance (GF); Green (sustainable) finance disclosure (GFD); Firm value; Tobin’s Q; Sustainable Development Goals (SDGs)
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