Twitter Carbon Information and Cost of Equity: The Moderating Role of Environmental Performance

Mohammed S. Albarrak*, Ngan Duong Cao, Aly Salama, Abdullah A. Aljughaiman

*Corresponding author for this work

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This study examines the moderating role of a firm’s environmental performance, measured by its environmental strength and concern ratings, on the influences of Twitter dissemination of carbon-related information (Carbon_Tweets) on a firm’s cost of equity (COE). Our key focus is to provide an insight as to whether different levels of environmental strength and concern would influence the effect of Carbon_Tweets on the COE. Employing the sample of non-financial NASDAQ firms covering the period between 2009 and 2015, we found that the negative association of Carbon_Tweets and COE is strengthened for firms with higher levels of environmental concerns; meanwhile, the results stay the same for different levels of environmental strength. These findings imply that although all firms can achieve lower COE by employing Twitter as a dissemination channel of Carbon information, firms with a concerning environmental status may benefit more by strategically disseminating via Twitter.
Original languageEnglish
Number of pages26
JournalEurasian Business Review
Early online date13 Aug 2022
Publication statusE-pub ahead of print - 13 Aug 2022


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