We examine how mandatory disclosure of greenhouse gas (GHG) emissions influences companies' emission levels. We identify the effect of full transparency by exploiting a mandate requiring UK-incorporated listed companies to disclose information on GHG emissions in their annual reports. Comparing...

We examine whether mandatory disclosure of greenhouse gas (GHG) emissions influences companies' GHG emission levels. We identify the disclosure effect by exploiting a mandate requiring UK-incorporated listed companies to disclose information on GHG emissions in their annual reports. Using a...

We examine whether a disclosure mandate for greenhouse gas emissions creates stakeholder pressure for firms to subsequently reduce their emissions. For UK-incorporated listed firms such a mandate was adopted in 2013. Using a difference-in-differences design, we find that firms affected by the...

This paper examines the effect of more frequent disclosure on firms' capital structure. We argue that more frequent disclosure enables firms to raise equity at more favorable conditions because shareholders are more willing to invest due to improved transparency and better monitoring of...

We examine how changes in shareholder rights influence firms' capital structure. We exploit the staggered passage of Universal Demand (UD) laws in 23 US states over a twenty-year period as an exogenous decrease in shareholder rights. UD laws introduced a significant hurdle for shareholders to...