In 2009, the Securities Exchange Commission (SEC) mandated public firms to file their financial statements using eXtensible Business Reporting Language (XBRL). The SEC's main motive behind this mandate is that XBRL filings would enhance the informational efficiency in the stock markets by making...

In February 2010, the Securities and Exchange Commission (SEC) issued an interpretive release clarifying what registrants should disclose related to climate change on their documents filed with SEC (i.e. 10-K or 20-F). This study investigates whether the electric utility firms participating in...

The United States Securities and Exchange Commission (SEC) issued an interpretative release ostensibly mandating the disclosure of the impact that climate change may have on the registrant. One means of enforcement for this release is through the use of comment letters. Prior empirical studies...

In 2009, Newsweek published a report in which they ranked the 500 largest US companies and the 100 largest global companies based on its environmental performance measures ( http://greenrankings2009.newsweek.com/ ). This ranking is referred to as Newsweek ’s Green Ranking. Included in this...

In February 2010, the US Securities and Exchange Commission (SEC) issued an interpretive release clarifying the information that registrants should disclose about climate change in their annual filings. Based on the industries the European Union targeted for its cap-and-trade carbon trading...

This study investigates whether CEOs exercise discretion in recognizing environmental liabilities surrounding their turnover. Extant theories on the agency problem predict that outgoing CEOs tend to boost or maintain the reported earnings in their final years (“Horizon” problem or...