We examine the link between a firm's environmental (E) and social (S) disclosures and measures of its risk including total, systematic, and idiosyncratic risk. While we do not find any link between a firm's E and S disclosures and its systematic risk, we find a negative and significant...

This chapter investigates companies' disclosure alignment and transparency signaling within the 2011 CSR annual reports of 36 U.S. firms in the Global Forbes 2000. DICTION 6.0 was used for the text analysis. The study found that CSR reports are fairly similar to corporate financial annual...

Theories of delegated monitoring predict that when public disclosure is costly, monitoring by a large investor leads management to supply more private information to that investor, and less public disclosure to other similarly aligned investors who free-ride off the monitor. We test this...