气候治理、企业社会责任战略与企业环境脱钩

IF 7.4 2区经济学 Q1 BUSINESS, FINANCE

Finance Research Letters Pub Date : 2025-07-11 DOI:10.1016/j.frl.2025.107925

Rizwan Mushtaq , Anna Min Du , Salman Bahoo

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引用次数: 0

摘要

本研究利用2004年至2023年全球32382个公司年观测数据集，揭示了气候治理与企业环境脱钩之间的正相关关系。我们发现，气候治理减少了少报（企业披露的可持续发展实践细节少于其实际表现），增加了多报（企业报告的可持续发展实践比其实际表现更广泛）。然而，仅仅存在气候治理是不够的。该研究通过证实，当与强有力的企业社会责任战略和第三方保证（例如，四大审计、外部企业社会责任审计）相结合时，气候治理在缓解企业整体环境脱钩方面变得更加有效，从而对文献有所贡献。该研究为寻求将可持续性披露与实际业绩相结合的公司董事会和政策制定者提供了重要启示。

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Climate governance, CSR strategy, and corporate environmental decoupling

This study, utilizing a global dataset of 32,382 firm-year observations from 2004 to 2023, reveals a positive and statistically significant relationship between climate governance and corporate environmental decoupling. We find that climate governance decreases under-reporting (corporations disclose fewer details about their sustainability practices than they perform) and increases over-reporting (corporations report sustainability practices more extensively than they perform). However, the mere presence of climate governance is insufficient. The study contributes to the literature by confirming that when combined with a strong CSR strategy and third-party assurance (e.g., Big 4 audits, external CSR audits), climate governance becomes more effective in mitigating overall corporate environmental decoupling. The study offers important implications for corporate boards and policymakers seeking to align sustainability disclosures with actual performance.

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来源期刊

Finance Research Letters BUSINESS, FINANCE-

CiteScore

11.10

自引率

14.40%

发文量

863

期刊介绍： Finance Research Letters welcomes submissions across all areas of finance, aiming for rapid publication of significant new findings. The journal particularly encourages papers that provide insight into the replicability of established results, examine the cross-national applicability of previous findings, challenge existing methodologies, or demonstrate methodological contingencies. Papers are invited in the following areas: Actuarial studies Alternative investments Asset Pricing Bankruptcy and liquidation Banks and other Depository Institutions Behavioral and experimental finance Bibliometric and Scientometric studies of finance Capital budgeting and corporate investment Capital markets and accounting Capital structure and payout policy Commodities Contagion, crises and interdependence Corporate governance Credit and fixed income markets and instruments Derivatives Emerging markets Energy Finance and Energy Markets Financial Econometrics Financial History Financial intermediation and money markets Financial markets and marketplaces Financial Mathematics and Econophysics Financial Regulation and Law Forecasting Frontier market studies International Finance Market efficiency, event studies Mergers, acquisitions and the market for corporate control Micro Finance Institutions Microstructure Non-bank Financial Institutions Personal Finance Portfolio choice and investing Real estate finance and investing Risk SME, Family and Entrepreneurial Finance