Exploring the association between financial and nonfinancial carbon-related incentives and carbon performance

IF 2 4区管理学 Q2 BUSINESS, FINANCE

Accounting and Business Research Pub Date : 2022-01-12 DOI:10.1080/00014788.2021.1993777

Christian Ott, J. Endrikat

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引用次数: 2

Abstract

Firms increasingly respond to pressures to reduce their carbon emissions by providing financial and nonfinancial carbon-related incentives that should align and extrinsically motivate individuals’ behaviour towards improved carbon performance. We explore whether and how the provision of carbon-related incentives is associated with carbon performance. We employ data on carbon-related incentives and carbon emissions that S&P 500 firms voluntarily disclose to the CDP. Correcting for sample-induced endogeneity and time-series dependencies, we find that financial carbon-related incentives are associated with superior carbon performance, while nonfinancial carbon-related incentives are not associated with carbon performance. Financial carbon-related incentives appear to extrinsically motivate managers and employees and channel their efforts towards improving carbon performance. However, nonfinancial carbon-related incentives do not appear to be effective. These differences may be explained by the fact that financial carbon-related incentives trigger different cognitive and motivational mechanisms (e.g. utility, expectancies) in individuals than nonfinancial carbon-related incentives.

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探索金融和非金融碳相关激励措施与碳绩效之间的联系

企业越来越多地通过提供金融和非金融碳相关激励措施来应对减少碳排放的压力，这些激励措施应协调并从外部激励个人的行为，以提高碳绩效。我们探讨了碳相关激励措施的提供是否以及如何与碳绩效相关。我们采用了标准普尔500指数成分股公司自愿向CDP披露的碳相关激励和碳排放数据。修正样本诱导的内生性和时间序列依赖性，我们发现金融碳相关激励与卓越的碳绩效相关，而非金融碳相关奖励与碳绩效无关。与碳相关的财务激励措施似乎从外部激励了管理者和员工，并将他们的努力引导到提高碳绩效上。然而，与碳相关的非金融激励措施似乎并不有效。这些差异可以解释为，与非金融碳相关激励相比，金融碳相关奖励在个人中引发不同的认知和动机机制（如效用、预期）。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Accounting and Business Research BUSINESS, FINANCE-

CiteScore

3.40

自引率

11.80%

发文量

期刊介绍： Accounting and Business Research publishes papers containing a substantial and original contribution to knowledge. Papers may cover any area of accounting, broadly defined and including corporate governance, auditing and taxation. However the focus must be accounting, rather than (corporate) finance or general management. Authors may take a theoretical or an empirical approach, using either quantitative or qualitative methods. They may aim to contribute to developing and understanding the role of accounting in business. Papers should be rigorous but also written in a way that makes them intelligible to a wide range of academics and, where appropriate, practitioners.