This study focuses on whether information transparency can reduce a firm’s idiosyncratic risk. We measure information transparency from an annual report on the public transparency of Chinese companies. Using a simultaneous equations approach, we find that idiosyncratic risk is reduced when a...

Purpose Taking on a corporate political activity (CPA) perspective, the purpose of this paper is to investigate how CPA affects environmental sustainability disclosure among firms in China and whether the disclosure level varies across ownership structures and environmental sensitivity statuses....

Purpose: The purpose of this paper is to investigate the relationship between level of environmental disclosure and establishment of a legitimacy image of operation among Japanese firms after implementation of the Kyoto Protocol. Design/methodology/approach: This study uses a sample consisting...