As part of the SEC's revision of Regulation S-K, many investors proposed the mandatory disclosure of sustainability … regarding which sustainability disclosures are financially material. To inform this issue, we examine materiality standards … developed by the Sustainability Accounting Standards Board (SASB). We find firms voluntarily disclosing more SASB …

We explore the conditions under which firms maintain their competitive advantage through sustainability … sustainability actions over time for almost all industries in our sample, suggesting that they rapidly diffuse via imitation. We also …. We subsequently distinguish between common (i.e., imitated) and unique sustainability actions and evidence that the …

Shareholder activism on sustainability issues has become increasingly prevalent over the years, with the number of … increase performance on immaterial issues in companies with agency problems, low awareness of the materiality of sustainability …