{"id":"https://openalex.org/W7128303878","doi":"https://doi.org/10.1007/s10458-026-09734-y","title":"Green disclosure policies and market dynamics: evidence from agent-based ESG models","display_name":"Green disclosure policies and market dynamics: evidence from agent-based ESG models","publication_year":2026,"publication_date":"2026-02-07","ids":{"openalex":"https://openalex.org/W7128303878","doi":"https://doi.org/10.1007/s10458-026-09734-y"},"language":"en","primary_location":{"id":"doi:10.1007/s10458-026-09734-y","is_oa":true,"landing_page_url":"https://doi.org/10.1007/s10458-026-09734-y","pdf_url":"https://link.springer.com/content/pdf/10.1007/s10458-026-09734-y.pdf","source":{"id":"https://openalex.org/S5405189","display_name":"Autonomous Agents and Multi-Agent Systems","issn_l":"1387-2532","issn":["1387-2532","1573-7454"],"is_oa":false,"is_in_doaj":false,"is_core":true,"host_organization":"https://openalex.org/P4310319900","host_organization_name":"Springer Science+Business Media","host_organization_lineage":["https://openalex.org/P4310319900","https://openalex.org/P4310319965"],"host_organization_lineage_names":["Springer Science+Business Media","Springer Nature"],"type":"journal"},"license":"cc-by","license_id":"https://openalex.org/licenses/cc-by","version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Autonomous Agents and Multi-Agent Systems","raw_type":"journal-article"},"type":"article","indexed_in":["crossref"],"open_access":{"is_oa":true,"oa_status":"hybrid","oa_url":"https://link.springer.com/content/pdf/10.1007/s10458-026-09734-y.pdf","any_repository_has_fulltext":true},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5101556581","display_name":"Lingxiao Zhao","orcid":"https://orcid.org/0009-0005-5190-5365"},"institutions":[{"id":"https://openalex.org/I183935753","display_name":"King's College London","ror":"https://ror.org/0220mzb33","country_code":"GB","type":"education","lineage":["https://openalex.org/I124357947","https://openalex.org/I183935753"]}],"countries":["GB"],"is_corresponding":true,"raw_author_name":"Lingxiao Zhao","raw_affiliation_strings":["Department of Informatics, King\u2019s College London, London, UK"],"affiliations":[{"raw_affiliation_string":"Department of Informatics, King\u2019s College London, London, UK","institution_ids":["https://openalex.org/I183935753"]}]},{"author_position":"middle","author":{"id":"https://openalex.org/A5065622718","display_name":"Maria Polukarov","orcid":"https://orcid.org/0000-0002-7421-3012"},"institutions":[{"id":"https://openalex.org/I183935753","display_name":"King's College London","ror":"https://ror.org/0220mzb33","country_code":"GB","type":"education","lineage":["https://openalex.org/I124357947","https://openalex.org/I183935753"]}],"countries":["GB"],"is_corresponding":false,"raw_author_name":"Maria Polukarov","raw_affiliation_strings":["Department of Informatics, King\u2019s College London, London, UK"],"affiliations":[{"raw_affiliation_string":"Department of Informatics, King\u2019s College London, London, UK","institution_ids":["https://openalex.org/I183935753"]}]},{"author_position":"last","author":{"id":"https://openalex.org/A5001328914","display_name":"Carmine Ventre","orcid":"https://orcid.org/0000-0003-1464-1215"},"institutions":[{"id":"https://openalex.org/I183935753","display_name":"King's College London","ror":"https://ror.org/0220mzb33","country_code":"GB","type":"education","lineage":["https://openalex.org/I124357947","https://openalex.org/I183935753"]}],"countries":["GB"],"is_corresponding":false,"raw_author_name":"Carmine Ventre","raw_affiliation_strings":["Department of Informatics, King\u2019s College London, London, UK"],"affiliations":[{"raw_affiliation_string":"Department of Informatics, King\u2019s College London, London, UK","institution_ids":["https://openalex.org/I183935753"]}]}],"institutions":[],"countries_distinct_count":1,"institutions_distinct_count":3,"corresponding_author_ids":["https://openalex.org/A5101556581"],"corresponding_institution_ids":["https://openalex.org/I183935753"],"apc_list":{"value":2390,"currency":"EUR","value_usd":2990},"apc_paid":{"value":2390,"currency":"EUR","value_usd":2990},"fwci":0.0,"has_fulltext":true,"cited_by_count":0,"citation_normalized_percentile":{"value":0.40415722,"is_in_top_1_percent":false,"is_in_top_10_percent":false},"cited_by_percentile_year":null,"biblio":{"volume":"40","issue":"1","first_page":null,"last_page":null},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T10115","display_name":"Corporate Social Responsibility Reporting","score":0.3785000145435333,"subfield":{"id":"https://openalex.org/subfields/1408","display_name":"Strategy and Management"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T10115","display_name":"Corporate Social Responsibility Reporting","score":0.3785000145435333,"subfield":{"id":"https://openalex.org/subfields/1408","display_name":"Strategy and Management"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T13146","display_name":"Sustainable Finance and Green Bonds","score":0.1768999993801117,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T14260","display_name":"Impact of AI and Big Data on Business and Society","score":0.05040000006556511,"subfield":{"id":"https://openalex.org/subfields/1803","display_name":"Management Science and Operations Research"},"field":{"id":"https://openalex.org/fields/18","display_name":"Decision Sciences"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/incentive","display_name":"Incentive","score":0.7200999855995178},{"id":"https://openalex.org/keywords/valuation","display_name":"Valuation (finance)","score":0.6604999899864197},{"id":"https://openalex.org/keywords/transparency","display_name":"Transparency (behavior)","score":0.5921000242233276},{"id":"https://openalex.org/keywords/maturity","display_name":"Maturity (psychological)","score":0.47600001096725464},{"id":"https://openalex.org/keywords/capital-market","display_name":"Capital market","score":0.46070000529289246},{"id":"https://openalex.org/keywords/empirical-evidence","display_name":"Empirical evidence","score":0.4507000148296356},{"id":"https://openalex.org/keywords/sustainability","display_name":"Sustainability","score":0.3756999969482422},{"id":"https://openalex.org/keywords/sustainable-development","display_name":"Sustainable development","score":0.3569999933242798}],"concepts":[{"id":"https://openalex.org/C29122968","wikidata":"https://www.wikidata.org/wiki/Q1414816","display_name":"Incentive","level":2,"score":0.7200999855995178},{"id":"https://openalex.org/C186027771","wikidata":"https://www.wikidata.org/wiki/Q4008379","display_name":"Valuation (finance)","level":2,"score":0.6604999899864197},{"id":"https://openalex.org/C144133560","wikidata":"https://www.wikidata.org/wiki/Q4830453","display_name":"Business","level":0,"score":0.6032000184059143},{"id":"https://openalex.org/C2780233690","wikidata":"https://www.wikidata.org/wiki/Q535347","display_name":"Transparency (behavior)","level":2,"score":0.5921000242233276},{"id":"https://openalex.org/C101433766","wikidata":"https://www.wikidata.org/wiki/Q3543263","display_name":"Maturity (psychological)","level":2,"score":0.47600001096725464},{"id":"https://openalex.org/C40700","wikidata":"https://www.wikidata.org/wiki/Q1411783","display_name":"Industrial organization","level":1,"score":0.4652000069618225},{"id":"https://openalex.org/C143910263","wikidata":"https://www.wikidata.org/wiki/Q750458","display_name":"Capital market","level":2,"score":0.46070000529289246},{"id":"https://openalex.org/C166052673","wikidata":"https://www.wikidata.org/wiki/Q83021","display_name":"Empirical evidence","level":2,"score":0.4507000148296356},{"id":"https://openalex.org/C66204764","wikidata":"https://www.wikidata.org/wiki/Q219416","display_name":"Sustainability","level":2,"score":0.3756999969482422},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.37130001187324524},{"id":"https://openalex.org/C552854447","wikidata":"https://www.wikidata.org/wiki/Q131201","display_name":"Sustainable development","level":2,"score":0.3569999933242798},{"id":"https://openalex.org/C175444787","wikidata":"https://www.wikidata.org/wiki/Q39072","display_name":"Microeconomics","level":1,"score":0.3443000018596649},{"id":"https://openalex.org/C100001284","wikidata":"https://www.wikidata.org/wiki/Q2248246","display_name":"Public economics","level":1,"score":0.32679998874664307},{"id":"https://openalex.org/C39389867","wikidata":"https://www.wikidata.org/wiki/Q380767","display_name":"Corporate governance","level":2,"score":0.3262999951839447},{"id":"https://openalex.org/C120936955","wikidata":"https://www.wikidata.org/wiki/Q2155640","display_name":"Empirical research","level":2,"score":0.31949999928474426},{"id":"https://openalex.org/C10138342","wikidata":"https://www.wikidata.org/wiki/Q43015","display_name":"Finance","level":1,"score":0.2928999960422516},{"id":"https://openalex.org/C83646750","wikidata":"https://www.wikidata.org/wiki/Q193893","display_name":"Capital (architecture)","level":2,"score":0.2896000146865845},{"id":"https://openalex.org/C178411942","wikidata":"https://www.wikidata.org/wiki/Q622657","display_name":"Market failure","level":2,"score":0.28060001134872437},{"id":"https://openalex.org/C80515813","wikidata":"https://www.wikidata.org/wiki/Q1134763","display_name":"Corporate finance","level":2,"score":0.28049999475479126},{"id":"https://openalex.org/C2776299755","wikidata":"https://www.wikidata.org/wiki/Q432449","display_name":"Carry (investment)","level":2,"score":0.2775000035762787},{"id":"https://openalex.org/C134560507","wikidata":"https://www.wikidata.org/wiki/Q753291","display_name":"Environmental economics","level":1,"score":0.274399995803833},{"id":"https://openalex.org/C2780695930","wikidata":"https://www.wikidata.org/wiki/Q5318971","display_name":"Dynamic efficiency","level":2,"score":0.25850000977516174},{"id":"https://openalex.org/C84976871","wikidata":"https://www.wikidata.org/wiki/Q2015673","display_name":"Openness to experience","level":2,"score":0.2567000091075897},{"id":"https://openalex.org/C121955636","wikidata":"https://www.wikidata.org/wiki/Q4116214","display_name":"Accounting","level":1,"score":0.2547999918460846},{"id":"https://openalex.org/C91810955","wikidata":"https://www.wikidata.org/wiki/Q7731670","display_name":"Incentive compatibility","level":3,"score":0.25029999017715454}],"mesh":[],"locations_count":2,"locations":[{"id":"doi:10.1007/s10458-026-09734-y","is_oa":true,"landing_page_url":"https://doi.org/10.1007/s10458-026-09734-y","pdf_url":"https://link.springer.com/content/pdf/10.1007/s10458-026-09734-y.pdf","source":{"id":"https://openalex.org/S5405189","display_name":"Autonomous Agents and Multi-Agent Systems","issn_l":"1387-2532","issn":["1387-2532","1573-7454"],"is_oa":false,"is_in_doaj":false,"is_core":true,"host_organization":"https://openalex.org/P4310319900","host_organization_name":"Springer Science+Business Media","host_organization_lineage":["https://openalex.org/P4310319900","https://openalex.org/P4310319965"],"host_organization_lineage_names":["Springer Science+Business Media","Springer Nature"],"type":"journal"},"license":"cc-by","license_id":"https://openalex.org/licenses/cc-by","version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Autonomous Agents and Multi-Agent Systems","raw_type":"journal-article"},{"id":"pmh:oai:kclpure.kcl.ac.uk:openaire/406a7c44-9635-430e-8c82-b3b7d5843440","is_oa":true,"landing_page_url":"https://kclpure.kcl.ac.uk/portal/en/publications/406a7c44-9635-430e-8c82-b3b7d5843440","pdf_url":"https://kclpure.kcl.ac.uk/ws/files/364858283/s10458-026-09734-y.pdf","source":{"id":"https://openalex.org/S4306400216","display_name":"Research Portal (King's College London)","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"host_organization":"https://openalex.org/I183935753","host_organization_name":"King's College London","host_organization_lineage":["https://openalex.org/I183935753"],"host_organization_lineage_names":[],"type":"repository"},"license":"cc-by","license_id":"https://openalex.org/licenses/cc-by","version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"Zhao, L, Polukarov, M & Ventre, C 2026, 'Green Disclosure Policies and Market Dynamics : Evidence from Agent-Based ESG Models', Autonomous Agents and Multi-Agent Systems, vol. 40, no. 1, 6. https://doi.org/10.1007/s10458-026-09734-y","raw_type":"info:eu-repo/semantics/publishedVersion"}],"best_oa_location":{"id":"doi:10.1007/s10458-026-09734-y","is_oa":true,"landing_page_url":"https://doi.org/10.1007/s10458-026-09734-y","pdf_url":"https://link.springer.com/content/pdf/10.1007/s10458-026-09734-y.pdf","source":{"id":"https://openalex.org/S5405189","display_name":"Autonomous Agents and Multi-Agent Systems","issn_l":"1387-2532","issn":["1387-2532","1573-7454"],"is_oa":false,"is_in_doaj":false,"is_core":true,"host_organization":"https://openalex.org/P4310319900","host_organization_name":"Springer Science+Business Media","host_organization_lineage":["https://openalex.org/P4310319900","https://openalex.org/P4310319965"],"host_organization_lineage_names":["Springer Science+Business Media","Springer Nature"],"type":"journal"},"license":"cc-by","license_id":"https://openalex.org/licenses/cc-by","version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Autonomous Agents and Multi-Agent Systems","raw_type":"journal-article"},"sustainable_development_goals":[],"awards":[],"funders":[],"has_content":{"grobid_xml":true,"pdf":true},"content_urls":{"pdf":"https://content.openalex.org/works/W7128303878.pdf","grobid_xml":"https://content.openalex.org/works/W7128303878.grobid-xml"},"referenced_works_count":34,"referenced_works":["https://openalex.org/W2104771847","https://openalex.org/W2128973417","https://openalex.org/W2161636141","https://openalex.org/W2277841643","https://openalex.org/W2292274172","https://openalex.org/W2925418831","https://openalex.org/W2991843419","https://openalex.org/W2996233037","https://openalex.org/W2999166371","https://openalex.org/W3024629478","https://openalex.org/W3047017890","https://openalex.org/W3123638525","https://openalex.org/W3123876242","https://openalex.org/W3144925663","https://openalex.org/W3172163560","https://openalex.org/W4205756925","https://openalex.org/W4280521008","https://openalex.org/W4281965376","https://openalex.org/W4289745865","https://openalex.org/W4295093360","https://openalex.org/W4300089508","https://openalex.org/W4312456124","https://openalex.org/W4317670380","https://openalex.org/W4318323730","https://openalex.org/W4366992301","https://openalex.org/W4384920177","https://openalex.org/W4385213623","https://openalex.org/W4386617424","https://openalex.org/W4389044202","https://openalex.org/W4407729347","https://openalex.org/W4411080024","https://openalex.org/W4415012838","https://openalex.org/W4416196106","https://openalex.org/W7124265032"],"related_works":[],"abstract_inverted_index":{"Abstract":[0],"Green":[1],"disclosure":[2,59,91,103,165],"policies":[3],"aim":[4],"to":[5,50,99,138,151],"improve":[6],"the":[7,68,130,178],"transparency":[8],"of":[9,170,181],"corporate":[10],"environmental":[11],"practices":[12],"and":[13,58,70,79,87,110,115,173],"guide":[14],"investors\u2019":[15],"capital":[16],"allocation.":[17],"While":[18],"existing":[19],"studies":[20],"mostly":[21],"examine":[22],"firm-level":[23],"effects,":[24],"their":[25],"market-level":[26],"implications":[27],"in":[28,67,162],"multi-agent":[29],"systems":[30],"remain":[31],"insufficiently":[32],"explored.":[33],"This":[34,155],"paper":[35],"develops":[36],"a":[37,148,158],"dual-market":[38],"dynamic":[39],"ESG":[40],"fund":[41],"model,":[42],"integrating":[43],"agent-based":[44],"simulation":[45],"with":[46],"empirical":[47],"game-theoretic":[48],"analysis,":[49],"study":[51,156],"how":[52],"upgrade":[53],"costs,":[54],"investor":[55],"valuation":[56,80],"preferences,":[57],"regimes":[60],"jointly":[61],"shape":[62],"firms\u2019":[63],"green":[64,182],"transition":[65,77],"incentives":[66,120],"EU":[69],"China.":[71],"The":[72],"results":[73],"show":[74],"that":[75,129],"both":[76],"costs":[78],"gaps":[81],"strongly":[82],"influence":[83],"strategic":[84],"upgrading":[85,97],"behaviour":[86],"equilibrium":[88],"outcomes:":[89],"Strict":[90],"sharpens":[92],"differentiation":[93],"but":[94],"may":[95],"suppress":[96],"due":[98],"high":[100],"costs;":[101],"lax":[102,114,149],"facilitates":[104],"initial":[105],"transitions":[106],"by":[107],"polluting":[108],"firms;":[109],"hybrid":[111],"disclosure,":[112,140],"combining":[113],"strict":[116,139],"phases,":[117],"generates":[118],"stronger":[119],"across":[121],"different":[122,168],"firm":[123],"types.":[124],"Cross-market":[125],"comparison":[126],"further":[127],"indicates":[128],"EU\u2019s":[131],"mature":[132],"regulatory":[133],"environment":[134],"is":[135],"better":[136],"suited":[137],"whereas":[141],"China\u2019s":[142],"emerging":[143],"market":[144,171],"benefits":[145],"more":[146],"from":[147],"form":[150],"accelerate":[152],"early-stage":[153],"transitions.":[154],"provides":[157],"reference":[159],"for":[160,177],"regulators":[161],"selecting":[163],"appropriate":[164],"forms":[166],"at":[167],"levels":[169],"maturity":[172],"offers":[174],"methodological":[175],"support":[176],"sustainable":[179],"development":[180],"finance":[183],"markets.":[184]},"counts_by_year":[],"updated_date":"2026-03-20T23:20:44.827607","created_date":"2026-02-09T00:00:00"}
