本研究測試了資本市場和產品市場對於廠商進行碳足跡披露的反應’以九個東亞國家由2006年至2011年的資料進行。資本市場部分’廠商進行碳足跡披露宣告所產生的異常報酬在2010年以後是正值，但程度很小。而在產品市場方面’碳足跡披露對於廠商的銷售成長率並沒有造成顯著變化。證據顯示，碳足跡揭露的利益是不顯著。因此有必要訂定更完善的法律或規範，以促進廠商的碳排放披露。

This study tested the reaction of the capital market and the production market to firms' carbon footprint disclosures. The data were taken from nine East Asian countries from 2006 to 2011. In the capital market, announcements of abnormal returns were positive after 2010, but the extent of these was small. In the production market, there was no significant change in the sales growth rate after carbon footprint disclosure. Evidence shows that the benefit of carbon footprint disclosure is not significant. More well-established regulations are necessary to promote carbon footprint disclosure.