Despite the rising use of environmental, social, and governance (ESG) ratings, there is substantial disagreement across rating agencies regarding what rating to give to individual firms. As what drives this disagreement is unclear, we examine whether a firm’s ESG disclosure helps explain some...

Environmental pollution has become a serious challenge in emerging markets. Using a unique survey of privately-owned enterprises in China, this paper investigates how polluting firms respond to institutional pressures. We find that polluting firms conform to external pressures by combining...

The terms corporate social responsibility, ‘sustainability’, ‘sustainable development’ and ‘corporate sustainability’ are critical terms for developing, analysing and evaluating public and private policy goals. The terms are used in decision-making concerning investments in many...

Ethical-factor investing shall be defined as using ethics, such as an enterprise’s policies regarding social/economic/health/environmental justice, sustainability, climate change, or corporate governance, as a factor to determine whether to acquire, dispose of, or how to exercise ownership...

Ethical-factor investing shall be defined as using ethics, such as an enterprise’s policies regarding social/economic/health justice, sustainability, climate change, or corporate governance, as a factor to determine whether to acquire, dispose of, or how to exercise ownership rights in an...

Using a dataset of 107 internal auditors, we investigate internal audit functions' (IAF) role in environmental, social, and governance (ESG) matters. We give evidence for organizations' and IAFs' ESG maturity driving ESG reporting, while IAFs' involvement in ESG drives assurance of ESG reports....

Environmental disasters are thought to increase the focus on corporate sustainability in the communities where they occur. Extracting data on wildfires (a frequent type of disaster in the U.S.) and using ESG ratings and EPA air enforcement actions to construct measures of local corporate...

In this paper, we identify heterogeneous CSR approaches by segregating the promised and realised social performance of firms to better understand how corporate social performance affects financial performance. Empirical CSR literature provides predominantly mixed findings on the social...

The Securities and Exchange Commission is at the center of one of the fiercest debates in climate policy and corporate governance: What should U.S. public companies disclose about their climate change risks and other ESG issues? The debate has been intractable for fifty years. Activists and...

It is well-accepted that organizations must consider multiple stakeholders and their objectives when deciding on organizational actions. But research provides little guidance regarding how managers can identify stakeholders, measure, and use information to facilitate this type of...