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Nowadays, firms are evaluated not only based on their financial reports but also on their corporate social responsibility and environmental disclosures. These disclosures are generally included in corporate social responsibility, environmental, and sustainability reports. Firms provide transparent and accountable information to shareholders and stakeholders through these reports. Therefore, information disclosures can be effective in enhancing the corporate image of companies and achieving their financial goals (reducing the cost of equity, increasing financial performance, and so on). In this context, the purpose of this study is to explore the impact of information disclosure, including environmental disclosures, within the context of sustainability on the cost of equity (COE). At the same time, the study examines the effect of information disclosure on financial performance in terms of firm value and profitability. In doing so, the study employs BIST100 data of non-financial firms from 2010 to 2019, and uses panel regression models for Turkey. As a result, it was found that information disclosure negatively impacts the COE while positively affecting firm value and profitability.

Impact of Environmental Information Disclosure on Cost of Equity and Financial Performance in an Emerging Market: Evidence from Turkey