- Published
- 2024-05-04
- Venue
- Journal of Accounting Research, vol. 62, no. 5, pp. 1795-1847
- Cited by
- 578
- Open access
- Yes, hybrid
- DOI
- 10.1111/1475-679x.12548
Abstract
We compile a novel data set on mandatory environmental, social, and governance (ESG) disclosure around the world to analyze the stock liquidity effects of such disclosure mandates. We document a positive effect of ESG disclosure mandates on firm‐level stock liquidity. The effects are strongest if the disclosure requirements are implemented by government institutions, not on a comply‐or‐explain basis, and coupled with strong enforcement by informal institutions. Firms with weaker information environments benefit more from ESG disclosure mandates. Our results support the view that ESG disclosure regulation improves the information environment and has beneficial capital market effects.
Cite this paper
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- APA 7
Krueger, P., Sautner, Z., Tang, D. Y., & Zhong, R. (2024). The Effects of Mandatory ESG Disclosure Around the World. Journal of Accounting Research, 62(5), 1795–1847. https://doi.org/10.1111/1475-679x.12548
- MLA 9
Krueger, Philipp, et al. "The Effects of Mandatory ESG Disclosure Around the World." Journal of Accounting Research, vol. 62, no. 5, 2024, pp. 1795–1847, https://doi.org/10.1111/1475-679x.12548.
- Chicago
Krueger, Philipp, Zacharias Sautner, Dragon Yongjun Tang, and Rui Zhong. "The Effects of Mandatory ESG Disclosure Around the World." Journal of Accounting Research 62, no. 5 (2024): 1795–1847. https://doi.org/10.1111/1475-679x.12548.
- GOST
Krueger P., Sautner Z., Tang D. Y. [и др.] The Effects of Mandatory ESG Disclosure Around the World // Journal of Accounting Research. — 2024. — Vol. 62, № 5. — P. 1795–1847. — URL: https://doi.org/10.1111/1475-679x.12548
- BibTeX
@article{krueger2024effects, title = {{The Effects of Mandatory ESG Disclosure Around the World}}, author = {Philipp Krueger and Zacharias Sautner and Dragon Yongjun Tang and Rui Zhong}, journal = {Journal of Accounting Research}, year = {2024}, volume = {62}, number = {5}, pages = {1795--1847}, doi = {10.1111/1475-679x.12548}, url = {https://doi.org/10.1111/1475-679x.12548} }- RIS
TY - JOUR AU - Krueger, Philipp AU - Sautner, Zacharias AU - Tang, Dragon Yongjun AU - Zhong, Rui TI - The Effects of Mandatory ESG Disclosure Around the World JO - Journal of Accounting Research VL - 62 IS - 5 SP - 1795 EP - 1847 PY - 2024 DA - 2024/05/04 DO - 10.1111/1475-679x.12548 UR - https://doi.org/10.1111/1475-679x.12548 ER -