The purpose of this study is to determine if the process of filtering out the financial information voluntary disclosed by firms is modified by the introduction of new mandatory information requirement. Voluntary information disclosed by French firms during the 2003-2008 period is compiled. This...

We introduce a machine learning approach to quantify the thematic content of climate reporting in annual reports and use this to analyze firms’ climate reporting practices in the context of the widespread European Non-Financial Reporting Directive. We finetune ClimateBert to identify climate...

Banks are crucial enablers of financial and economic development. They have an immense corporate social responsibility (CSR) towards society. Bank´s CSR activities are considered increasingly vital for their own success and sustainable growth, especially as they operate in a business...

In March 2020, Covid-19 was declared a pandemic by the World Health Organization. Most European governments reacted with lockdowns. A drop in demand as well as supply disruptions affected the economy which also hit European banks with quite a lot of uncertainty, not only regarding possible...

This report provides a review of the academic literature relevant to the mandatory adoption of IFRS reporting for member countries of the European Union in 2005 and an empirical analysis of the associated capital-market effects. In the empirical analysis, we focus on the effects on firms' costs...

We show the importance of emission disclosure for climate policies in a DSGE model for the euro area. A low-carbon energy and a fossil energy sector contribute to production and are financed by balance-sheet constrained intermediaries. The underestimation of emissions from fossil energy firms...