Bae, Benjamin B.; Elhusseiny, Mahdy F. - In: American Journal of Finance and Accounting 1 (2008) 2, pp. 121-138
This study examines the effect of environmental liabilities on risk assessment by investigating whether the markets … liabilities relating to Superfund sites has any incremental explanatory power. A positive association between the environmental … companies to disclose environmental liabilities in their financial reports. The empirical results weakly support the hypothesis …