measure their impact on the credit default swap (CDS) market. Risk disclosures can either increase or decrease credit spreads …We use BERT, an AI-based algorithm for language understanding, to decipher regulatory climate-risk disclosures and …

We examine the effect of voluntary climate risk disclosure on Credit Default Swap (CDS) premiums. We develop a … structural credit risk model, in which climate-related disclosures serve as an information source reducing uncertainty about … climate risks. The model predicts a negative relation between the informativeness of climate risk disclosure and the CDS …

disclosure choices. CDSs enable lenders to hedge their credit risk exposure, weakening their incentives to monitor borrowers. We … disclosure when (1) lenders have higher ability and propensity to hedge credit risk using CDSs, and (2) lender monitoring …

We investigate the externality influence of credit default swap (CDS) trading on management forecasting activity when … to CDS-referenced customers. In a test employing a measure of ex ante litigation risk, we find consistent evidence that … when litigation risk increases, the negative relationship between revenue derived from CDS-referenced customer firms and …

information to the credit default swap (CDS) market. Prior studies largely focus on the amount of risk disclosures and provide …This paper examines whether the tone of corporate textual disclosures related to risk and uncertainty conveys relevant … inconclusive evidence on the usefulness of risk disclosures for investors in assessing firm risk. Using a large sample of textual …

We examine the effect of credit default swap (CDS) coverage on voluntary disclosure using firm provided non …