Voluntary contributions to public goods may be motivated by a desire to be a moral person, or in other words, by identity concerns. In a field experiment (N=373) we test how positive and negative shocks to subjects' environmental identity affect voluntary efforts for climate protection. In a...

We examine the association between mandated Asset Retirement Obligations (ARO), i.e., environmental clean-up costs of normal operations estimated on the balance sheet, and the quality of voluntary ESG disclosures. We hypothesize that when firms recognize larger AROs with higher accuracy that...

Digital platforms such as Amazon Marketplace or Google Search are commercial and political actors. They have taken center-stage as new spaces for exchange. They facilitate digitally networked interactions and transactions between different customer groups through algorithms, data, and other...

We examine the effect of voluntary climate risk disclosure on Credit Default Swap (CDS) premiums. We develop a structural credit risk model, in which climate-related disclosures serve as an information source reducing uncertainty about climate risks. The model predicts a negative relation...

We investigate the impact of peer pressure on the characteristics of forward-looking disclosures. We identify plausibly exogenous variation in the amount of peer firm forecast news available when a focal firm issues its own forecast by employing a sample of firms that issue forecasts in...

Corporate climate disclosures are considered an essential prerequisite to managing climate-related financial risks. At the same time, current disclosures are imprecise, inaccurate, and greenwashing-prone. We introduce a deep learning approach to enable comprehensive climate disclosure analyses...

There is a long history of self-regulation—governance of firm behavior by private entities—both in the United States and globally, and there is an equally long discussion of self-regulation within the literature. But there has been less attention to the role of self-regulation in spurring...

“Energy-Saving and Low-Carbon Action Implementation Plan for Ten Thousand Enterprises” urged the Chinese energy users to establish an energy management system(EEM) that emphasizes energy conservation and emission reduction. This study applied the voluntary information disclosure theory,...

A carbon offset represents one unit of reduction in greenhouse gas emissions that can be used to compensate for emissions that occur elsewhere. Companies can purchase voluntary carbon offsets under two delivery terms. The first is prompt delivery, where a seller first undertakes the investment,...

We investigate the role of sellers' commitment power in discouraging consumer search. Theoretically, lack of commitment power transforms sellers' search-deterring claims into cheap talk, eliminating sellers' ability to deter search in some market environments. However, our experiments show...