Climate change exposure and firm value: Evidence from low and middle income economies

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dc.authoridDoruk, Ömer Tuğsal/0000-0002-2382-1042
dc.contributor.authorDoruk, Omer Tugsal
dc.date.accessioned2026-02-27T07:33:12Z
dc.date.available2026-02-27T07:33:12Z
dc.date.issued2025
dc.description.abstractThis study examines the impact of climate change exposure on firm value for low- and middleincome economies by utilizing cross-country firm-level dataset. This study employs two novel firm-level climate change exposure variables to explore the impact of climate change exposure on firm value in both financial and physical dimensions of it. The results show that climate change exposure significantly affects firm value through both transition and physical risk channels. At the same time, ESG performance of the firms does mitigate the effect of climate change exposure on the firm value, while corporate social responsibility performance based executive compensation does not mitigate the impact of climate change exposure on firm value. The findings are robust to different modeling and variable alternatives. This study is expected to sheds new light on the climate change exposure-firm value relationship, especially on the low and middle income economies.
dc.identifier.doi10.1016/j.frl.2025.107977
dc.identifier.issn1544-6123
dc.identifier.issn1544-6131
dc.identifier.urihttp://dx.doi.org/10.1016/j.frl.2025.107977
dc.identifier.urihttps://hdl.handle.net/20.500.14669/4489
dc.identifier.volume85
dc.identifier.wosWOS:001543451300001
dc.indekslendigikaynakWeb of Science
dc.language.isoen
dc.publisherAcademic Press Inc Elsevier Science
dc.relation.ispartofFinance Research Letters
dc.relation.publicationcategoryMakale - Uluslararası Hakemli Dergi - Kurum Öğretim Elemanı
dc.rightsinfo:eu-repo/semantics/closedAccess
dc.snmzKA_20260302
dc.subjectClimate change exposure
dc.subjectFirm value
dc.subjectClimate-related financial exposure
dc.subjectClimate-related physical exposure
dc.titleClimate change exposure and firm value: Evidence from low and middle income economies
dc.typeArticle

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