Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/266352 
Year of Publication: 
2021
Citation: 
[Journal:] Review of Accounting Studies [ISSN:] 1573-7136 [Volume:] 26 [Issue:] 3 [Publisher:] Springer Science and Business Media LLC [Place:] Berlin [Year:] 2021 [Pages:] 1137-1175
Publisher: 
Springer Science and Business Media LLC, Berlin
Abstract: 
We examine the impact of a disclosure mandate for greenhouse gas emissions on firms’ subsequent emission levels and financial operating performance. For UK-incorporated listed firms a carbon disclosure mandate was adopted in 2013. Our difference-in-differences design shows that firms affected by the mandate reduced their emissions by about 8% relative to a control group of European firms. At the same time, our tests indicate that the treated firms experienced no significant changes in their gross margins. Taken together, our findings indicate that the reporting mandate had a real effect on the variable to be disclosed without adversely affecting the financial operating performance of the treated firms.
Subjects: 
Disclosure of nonfinancial information
Mandatory disclosure
Greenhouse gas emissions
Real effects
JEL: 
Q28
Q40
M41
M48
Persistent Identifier of the first edition: 
Creative Commons License: 
cc-by Logo
Document Type: 
Article
Document Version: 
Published Version

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