The purpose of this study is to examine the relationship between managers' ability and voluntary disclosure of carbon emissions and whether industry competition affects those relationships. Using Korean firms listed on the Korean stock market from 2008 to 2019, we find that high-ability managers...

We investigate whether the sustainability implications of firms’ innovative pursuits are associated with their disclosure choices. We find that firms with a greater percentage of patents granted in environmentally sound technologies provide more innovation disclosure in conference calls...

The 2009 National Salt Reduction Initiative (NSRI) set sodium content targets for packaged food products in the United States. Some manufacturers voluntarily pledged to meet NSRI targets by 2014. We quantify the causal effect of the NSRI on sodium content reductions. Our identification rests on...

This paper explores the effectiveness of the voluntary reform. It studies a voluntary healthcare reform that was implemented in Ireland in 2008. The analysis is conducted using a theoretical model and empirical evidence. In 2008, in the hope to reduce waiting lists, new contracts were issued...

Climate change carries risks that need to be mitigated by all parties, including companies because it affects company value. Many studies find that voluntary disclosure positively affects firm value in developing countries. This study aims to examine the effect of voluntary disclosure (CSR and...

We study whether the threat of exit by institutional investors can induce firms to voluntarily disclose their environmental policies. To address concerns about reverse causality and omitted variables, we implement a fuzzy regression discontinuity design to conduct our empirical tests. The...

We study how government policies and corporate commitments to decarbonize interact under two externalities: environmental damages and green innovation spillovers. Unconstrained carbon taxes and innovation subsidies could achieve first-best outcomes, but when government policies face constraints,...