盈利质量与气候风险：以欧洲公司为例

IF 9.8 1区经济学 Q1 BUSINESS, FINANCE

International Review of Financial Analysis Pub Date : 2025-03-20 DOI:10.1016/j.irfa.2025.104133

Rim Ben Abdesslem , Imed Chkir , Samir Saadi

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引用次数: 0

摘要

我们研究了气候风险对2010年至2019年184家欧洲上市公司盈余质量两个基本特征：忠实代表和相关性的影响。我们发现，气候风险对盈余的真实性和相关性都有负面影响，最终降低了整体盈余质量。气候风险较高的国家的企业更倾向于采用基于应计制的盈余管理，报告的持续性、可预测性和相关性较差的盈余。此外，我们研究了企业社会责任和巴黎协议对这一关系的调节作用，发现在巴黎协议之前的一段时间内，社会责任较少的企业对盈利质量的负面影响更强。我们的结果对于气候风险和盈利质量的替代措施是稳健的。

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Earning quality and climate risk: The case of European firms

We investigate the effect of climate risk on two fundamental characteristics of earnings quality: faithful representation and relevance, of 184 European-listed companies over the period of 2010 to 2019. We find that climate risk has a negative impact on both the faithfulness and relevance of earnings, ultimately reducing overall earnings quality. Firms in countries with higher climate risk are more prone to engage in accrual-based earnings management and report less persistent, predictable, and relevant earnings. In addition, we investigate the moderating effect of corporate social responsibility and the Paris agreement on this relationship and find that the negative effect on earning quality is stronger for less socially responsible firms and in the period before the Paris agreement. Our results are robust to alternative measures of climate risk and earnings quality.

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来源期刊

International Review of Financial Analysis BUSINESS, FINANCE-

CiteScore

10.30

自引率

9.80%

发文量

366

期刊介绍： The International Review of Financial Analysis (IRFA) is an impartial refereed journal designed to serve as a platform for high-quality financial research. It welcomes a diverse range of financial research topics and maintains an unbiased selection process. While not limited to U.S.-centric subjects, IRFA, as its title suggests, is open to valuable research contributions from around the world.