lower during recession because regulators and investors focus more on downside risk and require conservative reporting by …

We examine the association between carbon risk and future stock price crash risk and the moderating role of climate … change disclosures in this association using a sample of firms across the world. We find that carbon risk is positively … associated with future stock price crash risk, and firm-level climate-change disclosures attenuate the positive effect of carbon …

mortgage crisis. In addition, we examine stock market co-movement and risk exposure for ten industries in eight emerging …/developing stock markets. We obtain four key empirical findings. First, at industry level, we confirm that the equity risk premium in … premia. Third, we show that some industries are more exposed to global risk factors than others. Fourth, given the increasing …