Is there a complementary or a substitutive relationship between climate governance and analyst coverage? Its effect on climate disclosure
[EN] Knowledge of the initiatives that companies are promoting to curb climate change and the impacts resulting from these activities require the disclosure of relevant information that can be used by stakeholders in their decision-making processes. The objective of this work is to complement previo...
| Authors: | , , |
|---|---|
| Format: | article |
| Status: | Published version |
| Publication Date: | 2023 |
| Country: | España |
| Institution: | Universidad de Salamanca (USAL) |
| Repository: | GREDOS. Repositorio Institucional de la Universidad de Salamanca |
| OAI Identifier: | oai:gredos.usal.es:10366/163612 |
| Online Access: | http://hdl.handle.net/10366/163612 |
| Access Level: | Open access |
| Keyword: | Analyst coverage Climate disclosure Climate governance 2502 Climatología 5311.02 Gestión Financiera |
| Summary: | [EN] Knowledge of the initiatives that companies are promoting to curb climate change and the impacts resulting from these activities require the disclosure of relevant information that can be used by stakeholders in their decision-making processes. The objective of this work is to complement previous studies by analysing the effect and type of relationship that exists between internal and market corporate governance mechanisms. We theoretically argue that business transparency related to climate change is explained both by climate governance and by the coverage of the company by financial analysts and that there may be both a complementary and substitutive relationship between the two mechanisms. The results obtained on a global climate governance score show the existence of a substitutive relationship, but the individualised consideration of the components of this score suggests a potential divergent relationship. |
|---|