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- Publisher Website: 10.1111/1475-679X.12548
- Scopus: eid_2-s2.0-85192219055
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Article: The Effects of Mandatory ESG Disclosure Around the World
| Title | The Effects of Mandatory ESG Disclosure Around the World |
|---|---|
| Authors | |
| Keywords | ESG reporting nonfinancial information stock liquidity sustainability reporting |
| Issue Date | 4-May-2024 |
| Publisher | Wiley |
| Citation | Journal of Accounting Research, 2024 How to Cite? |
| Abstract | We compile a novel data set on mandatory environmental, social, and governance (ESG) disclosure around the world to analyze the stock liquidity effects of such disclosure mandates. We document a positive effect of ESG disclosure mandates on firm-level stock liquidity. The effects are strongest if the disclosure requirements are implemented by government institutions, not on a comply-or-explain basis, and coupled with strong enforcement by informal institutions. Firms with weaker information environments benefit more from ESG disclosure mandates. Our results support the view that ESG disclosure regulation improves the information environment and has beneficial capital market effects. |
| Persistent Identifier | http://hdl.handle.net/10722/343924 |
| ISSN | 2023 Impact Factor: 4.9 2023 SCImago Journal Rankings: 6.625 |
| DC Field | Value | Language |
|---|---|---|
| dc.contributor.author | Krueger, Philipp | - |
| dc.contributor.author | Sautner, Zacharias | - |
| dc.contributor.author | Tang, Dragon Yongjun | - |
| dc.contributor.author | Zhong, Rui | - |
| dc.date.accessioned | 2024-06-18T03:42:51Z | - |
| dc.date.available | 2024-06-18T03:42:51Z | - |
| dc.date.issued | 2024-05-04 | - |
| dc.identifier.citation | Journal of Accounting Research, 2024 | - |
| dc.identifier.issn | 0021-8456 | - |
| dc.identifier.uri | http://hdl.handle.net/10722/343924 | - |
| dc.description.abstract | <p>We compile a novel data set on mandatory environmental, social, and governance (ESG) disclosure around the world to analyze the stock liquidity effects of such disclosure mandates. We document a positive effect of ESG disclosure mandates on firm-level stock liquidity. The effects are strongest if the disclosure requirements are implemented by government institutions, not on a comply-or-explain basis, and coupled with strong enforcement by informal institutions. Firms with weaker information environments benefit more from ESG disclosure mandates. Our results support the view that ESG disclosure regulation improves the information environment and has beneficial capital market effects.<br></p> | - |
| dc.language | eng | - |
| dc.publisher | Wiley | - |
| dc.relation.ispartof | Journal of Accounting Research | - |
| dc.rights | This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License. | - |
| dc.subject | ESG reporting | - |
| dc.subject | nonfinancial information | - |
| dc.subject | stock liquidity | - |
| dc.subject | sustainability reporting | - |
| dc.title | The Effects of Mandatory ESG Disclosure Around the World | - |
| dc.type | Article | - |
| dc.identifier.doi | 10.1111/1475-679X.12548 | - |
| dc.identifier.scopus | eid_2-s2.0-85192219055 | - |
| dc.identifier.eissn | 1475-679X | - |
| dc.identifier.issnl | 0021-8456 | - |