We study voluntary disclosure strategies in leader-follower games where firms choose real actions sequentially after simultaneously disclosing information. We show that the leader incurs an endogenous consistency cost when withholding information because it must choose a suboptimal real action...

This study investigates whether and how voluntary disclosure affects the earnings announcement premium (EAP). Using S&P500 index additions as an exogenous source of variation to voluntary disclosures, we test the effect of guidance on information risk and investor attention as drivers of the...

Beyond their legal obligations, corporations globally are considering human rights issues in their management policies and practices for their responsible business conduct regarding social sustainability. This rationale applies to corporate responsibility, in which corporations are active...

Recent changes in national competition laws and enforcement guidelines, including those of the European Commission, increase the scope for considering sustainability benefits in the assessment of horizontal cooperations. Abstracting from (standard) arguments that relate to cost sharing,...

“Energy-Saving and Low-Carbon Action Implementation Plan for Ten Thousand Enterprises” urged the Chinese energy users to establish an energy management system(EEM) that emphasizes energy conservation and emission reduction. This study applied the voluntary information disclosure theory,...

Climate change is the biggest threat humankind is facing nowadays. More greenhouse gases (GHG) have been released into the atmosphere in the last 30 years than in the entire history of our planet, causing average temperatures to rise by about one degree Celsius thus far. If this continues, 50...