A Study on the Effectiveness of ESG Information Disclosure in the New Tea Beverage Industry: CHAGEE’s U.S. Listing
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Keywords
ESG information disclosure, new tea beverage industry, CHAGEE, U.S. listing, effectiveness evaluation
Abstract
This study uses CHAGEE, which is listed on the U.S. stock market in April 2025, as a case to explore the effectiveness of environmental, social, and governance (ESG) information disclosure in the new tea beverage industry. Using a case study and comparative research methods, this study systematically examines the motivations behind CHAGEE’s voluntary ESG disclosures in the U.S. market, the characteristics of the disclosed content, and the subsequent market reactions. For assessment, comparisons are made with peer companies listed in Hong Kong. The effectiveness of ESG disclosure in this industry is influenced by multiple factors, including regulatory policies, corporate strategies, industry-specific characteristics, and resource capabilities. Improving the quality of ESG disclosure requires enhancements in areas such as establishing robust management structures, strengthening quantitative data disclosure, and introducing third-party assurance. This research provides theoretical insights and practical guidance for ESG practices within the new tea beverage industry while also offering references for regulatory bodies aiming to refine ESG disclosure standards.
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