Internal carbon pricing by corporations is a relatively new tool in carbon management. Using a sample of 1,274 firms from 45 countries and across 43 industries reporting to the Carbon Disclosure Project (the CDP) during the years, 2015 to 2018, this study uses carbon emissions intensity ratios...

As evidence for climate change mounts, the case gets stronger for not developing a large portion of existing fossil fuel reserves, particularly for coal as the highest emitter of CO2 per unit of energy produced. To avoid catastrophic climate change effects, reserves may become unburnable (i.e....

We investigate alternative hypotheses for a company's choice for an intensity-only (carbon emissions relative to sales, production, etc.) versus an absolute carbon emissions goal. The hypotheses include: (1) a high growth firm hypothesis whereby high growth companies select an intensity goal, to...

Corporate sustainability activities are often ad hoc; that is, the extent to which a company moves toward being more sustainable is based on organizational feasibility or economic acceptance rather than true sustainability criteria. This paper examines corporate climate and carbon policy through...

Jensen (1986) posits that costly conflicts of interest between managers and shareholders are especially pronounced in companies with substantial amounts of free cash flow. Jensen argues that, all else equal, firms that finance assets with debt will be less prone to this agency problem of...

We employ a natural experiment from the 1980s, predating the ubiquitous clamor for independence influenced corporate governance structures, to examine which governance mechanisms are associated with firm survival and failure. We find that thrifts were more likely to survive the thrift crisis...

We examine how two trends in choosing which NGOs or not-for-profit organizations to support create biases in the types of organizations that are supported and how that bias in giving may affect the impact of international development organizations, especially those whose mission is sustainable...

Using a sample of 104 announcements of a high-level executive (Chairman, Vice-Chairman, CEO or President) joining the board of another company from 1985 through 1997, we find a negative announcement date stock response of about one-half of one percent for the firm for which the executive works....

We examine the sustainability reporting activities of companies in controversial industries, e.g., alcohol, firearms, for-profit prisons, gambling, tobacco, marijuana and payday loans. For each industry we identify its controversial social problem – the “elephant in the room.” We then...