Analysis of the Impact of Information Disclosure on Financial Performance

Abstract

As a core component of corporate governance and the capital market, information disclosure has garnered significant attention due to its notable impact on corporate financial performance. Based on authoritative domestic and international literature, this paper aims to systematically examine the varying effects of various types of information disclosure, including carbon, environmental, safety, and Environmental Social and Governance (ESG), on financial performance. The study reveals that the disclosure of carbon, ESG, and environmental information by enterprises is positively correlated with financial performance. However, the role of safety information disclosure is opposite: financial safety information contributes to performance enhancement, while non-financial safety information may lead to a decline in performance. Nevertheless, regardless of the type, its impact on financial performance is more pronounced only when the external environment is favorable. This paper also examines the diverse effects of information disclosure levels on financial performance, including promotional effects, inhibitory effects, and more complex linear association patterns, providing theoretical references for enterprises to enhance the quality of various types of information disclosure and for the formulation of regulatory policies.