suggest new management strategies to financial market participants relative to those based on carbon intensity. ESG disclosure … than disclosure of carbon intensity …

This essay reviews the theoretical and empirical literature on quality disclosure and certification. After comparing … quality disclosure with other quality assurance mechanisms and describing a brief history of quality disclosure, we address … government mandate disclosure? and (iii) Do certifiers necessarily report unbiased and accurate information? We further review …

Disclosure policies have the potential to help consumers and make markets more efficient. Yet, the effectiveness of … disclosure policies can be undermined if firms strategically make unfavorable information unnecessarily complicated to understand …. To explore the incentives for using complexity in disclosure, we implement a game of mandatory disclosure where senders …

as a result of voluntary disclosure and in turn increases firm value. This suggests that managers can causally influence … their cost of capital via voluntary disclosure …