Employing a large sample of 12,454 firms across 40 countries from 2001 to 2014, we find that firms with high media coverage tend to take risky but value-enhancing investments. We further show that this positive relation is achieved through three plausible channels, namely, the information...

This paper examines the impact and underlying mechanisms of ESG rating disagreement on the risk-taking of Chinese companies listed on the Shanghai and Shenzhen stock exchanges from 2011 to 2020. The research reveals that ESG rating disagreement significantly increases corporate risk-taking....