Carbon disclosures and information asymmetry: Empirical evidence on the importance of text in understanding numerical emission allowance disclosures

URN to cite this document:: urn:nbn:de:bvb:355-epub-594354
DOI to cite this document:: 10.5283/epub.59435

Steindl, Tobias

; Habermann, Florian ; Küster, Stephan

License: Creative Commons Attribution Non-commercial No Derivatives 4.0
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Date of publication of this fulltext: 29 Oct 2024 06:00

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Abstract

Carbon disclosures are essential for investors to evaluate firms’ efforts to combat climate change. In this study, we focus on a specific type of carbon disclosures—namely, emission allowance disclosures—that capture how firms implement emission reductions under the European Union emission trading system (EU ETS). Given the continuously changing institutional features of the EU ETS and the lack ...