{"id":19391,"date":"2022-12-08T15:26:55","date_gmt":"2022-12-08T06:26:55","guid":{"rendered":"https:\/\/www.waseda.jp\/inst\/sgu\/?p=19391"},"modified":"2022-12-08T15:26:55","modified_gmt":"2022-12-08T06:26:55","slug":"%e3%82%a2%e3%83%ab%e3%83%90%e3%83%bc%e3%82%bf%e5%a4%a7%e5%ad%a6-vikas-mehrotra-%e6%95%99%e6%8e%88-%e7%89%b9%e5%88%a5%e3%82%bb%e3%83%9f%e3%83%8a%e3%83%bc%e3%80%8cthe-demand-and-voluntary-supply-of-clim","status":"publish","type":"post","link":"https:\/\/www.waseda.jp\/inst\/sgu\/news-through-2023\/2022\/12\/08\/19391\/","title":{"rendered":"\u30a2\u30eb\u30d0\u30fc\u30bf\u5927\u5b66 Vikas Mehrotra \u6559\u6388 \u7279\u5225\u30bb\u30df\u30ca\u30fc\u300cThe Demand and Voluntary Supply of Climate Disclosure\u300d\u958b\u50ac\u306e\u304a\u77e5\u3089\u305b"},"content":{"rendered":"

\u30b9\u30fc\u30d1\u30fc\u30b0\u30ed\u30fc\u30d0\u30eb\u5927\u5b66\u5275\u6210\u652f\u63f4\u5b9f\u8a3c\u653f\u6cbb\u7d4c\u6e08\u5b66\u62e0\u70b9\u3067\u306f\u30012022\u5e7412\u670826\u65e5\u306b\u30a2\u30eb\u30d0\u30fc\u30bf\u5927\u5b66\u306e Vikas Mehrotra \u6559\u6388\u306b\u3088\u308b\u7279\u5225\u30bb\u30df\u30ca\u30fc\u300cThe Demand and Voluntary Supply of Climate Disclosure\u300d\u3092\u958b\u50ac\u3044\u305f\u3057\u307e\u3059\u3002Mehrotra \u6559\u6388\u306f\u3001\u8a2a\u554f\u6559\u54e1\u3068\u3057\u3066\u51ac\u5b66\u671f\u306e\u6b63\u898f\u79d1\u76ee\u300cCorporate Governance and M&A\u300d\u3092\u62c5\u5f53\u3055\u308c\u3066\u3044\u307e\u3059\u3002<\/p>\n

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\u3010\u767a\u8868\u8005\u3011\u3000Vikas Mehrotra<\/a> \u6559\u6388\uff08University of Alberta\uff09
\n\u3010\u65e5\u6642\u3011\u30002022\u5e7412\u670826\u65e5\uff08\u6708\uff0913:00-14:30
\n\u3010\u5834\u6240\u3011\u300011\u53f7\u9928 818\u6559\u5ba4\u30fbZoom\uff08\u30cf\u30a4\u30d5\u30ec\u30c3\u30af\u30b9\u958b\u50ac\uff09
\n\u3010\u8a00\u8a9e\u3011\u3000\u82f1\u8a9e
\n\u3010\u5bfe\u8c61\u3011\u3000\u65e9\u7a32\u7530\u5927\u5b66\u5b66\u90e8\u751f\u3001\u5927\u5b66\u9662\u751f\u3001\u6559\u8077\u54e1\u3001\u4e00\u822c
\n\u3010\u8cbb\u7528\u3011\u3000\u7121\u6599
\n\u3010\u7533\u8fbc\u3011\u3000\u3053\u3061\u3089<\/a>\u304b\u3089\u304a\u7533\u3057\u8fbc\u307f\u304f\u3060\u3055\u3044\u3000\u203b\u8981\u4e8b\u524d\u7533\u8fbc\u307f<\/p>\n

\u3010\u6982\u8981\u3011
\nThis paper studies whether and how investor demand for climate risk information (CRI) influences firms\u2019 voluntary climate disclosures. Investors express their demand for CRI publicly through shareholder proposals or privately through engagements with investee firms, or both. In a sample of S&P 500 companies for 2010-2020, we find that firms\u2019 voluntary climate disclosure decisions are positively associated with engagements by the so-called Big 3 institutional investors, viz. Blackrock, Vanguard and State Street. We observe little direct evidence on the efficacy of shareholder resolutions in prompting climate risk disclosure; nevertheless, we find some evidence that non-Big3 investors are more likely to successfully employ them to prod firms to disclose climate risk. We find that Big 3 is more likely to vote against directors\u2019 election or vote for shareholder resolutions (against the management) following firms\u2019 non-disclosure of CRI. Our results are more consistent with an influence effect\u2014Big 3 engagements lead to climate disclosures, but we find little evidence of a reverse causality wherein large institutional investors self-select into the disclosing group of firms. Finally, our results are stronger in the post-Paris period; we see some evidence of the effect of a change in investor preferences around the time of the Paris Climate Accord.<\/p>\n

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\u4e3b\u50ac\uff1a\u5b9f\u8a3c\u653f\u6cbb\u7d4c\u6e08\u5b66\u62e0\u70b9<\/p>\n","protected":false},"excerpt":{"rendered":"

\u30b9\u30fc\u30d1\u30fc\u30b0\u30ed\u30fc\u30d0\u30eb\u5927\u5b66\u5275\u6210\u652f\u63f4\u5b9f\u8a3c\u653f\u6cbb\u7d4c\u6e08\u5b66\u62e0\u70b9\u3067\u306f\u30012022\u5e7412\u670826\u65e5\u306b\u30a2\u30eb\u30d0\u30fc\u30bf\u5927\u5b66\u306e Vikas Mehrotra \u6559\u6388\u306b\u3088\u308b\u7279\u5225\u30bb\u30df\u30ca\u30fc\u300cThe Demand and Voluntary Supply of […]<\/p>\n","protected":false},"author":3,"featured_media":19463,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[53,98],"class_list":["post-19391","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-through-2023","tag-events","tag-eape"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.waseda.jp\/inst\/sgu\/wp-json\/wp\/v2\/posts\/19391","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.waseda.jp\/inst\/sgu\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.waseda.jp\/inst\/sgu\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.waseda.jp\/inst\/sgu\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.waseda.jp\/inst\/sgu\/wp-json\/wp\/v2\/comments?post=19391"}],"version-history":[{"count":2,"href":"https:\/\/www.waseda.jp\/inst\/sgu\/wp-json\/wp\/v2\/posts\/19391\/revisions"}],"predecessor-version":[{"id":19485,"href":"https:\/\/www.waseda.jp\/inst\/sgu\/wp-json\/wp\/v2\/posts\/19391\/revisions\/19485"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.waseda.jp\/inst\/sgu\/wp-json\/wp\/v2\/media\/19463"}],"wp:attachment":[{"href":"https:\/\/www.waseda.jp\/inst\/sgu\/wp-json\/wp\/v2\/media?parent=19391"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.waseda.jp\/inst\/sgu\/wp-json\/wp\/v2\/categories?post=19391"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.waseda.jp\/inst\/sgu\/wp-json\/wp\/v2\/tags?post=19391"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}