Annual Conference

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Accounting

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May 2024

The Spillover Effects of Environmental Lawsuits on Industry Peers

Xia CHEN, Qiang CHENG, Xuefan PENG, Ziliang ZHAN
We examine the spillover effects of high-profile environmental lawsuits on industry peers. We find that compared to control firms, industry peers experience a decrease in chemical releases after the lawsuits. Industry peers, especially those with a higher decrease in chemical releases, also experien...
Keywords: Environmental lawsuits, peer effects, ESG disclosures, firm performance
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Annual Conference

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Accounting

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May 2024

Check the Box: Does Information on the Existence of Public Climate Disclosure Reduce Federal Suppliers' Emissions?

Shushu JIANG, Rachel Xi ZHANG
We examine whether suppliers reduce emissions when their federal customers start requesting information on the existence of their public climate disclosure. In 2016, the U.S. federal government implemented the first climate-related contractual provision through FAR 52.223-22, which requires certain ...
Keywords: Sustainable Federal Procurement, Greenhouse Gas Emissions, Climate Disclosure, Disclosure Processing Costs, Supply Chain Contracting
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Annual Conference

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Accounting

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May 2024

The Effect of Mandatory Carbon Disclosure Along Global Supply Chains

Jin DENG, Mingyi HUNG, Shiheng WANG
We examine whether and how mandatory carbon disclosure affects the transmission of carbon emissions through a firm’s global supply chain. Our analysis uses the 2013 UK carbon disclosure regulation that requires the reporting of Scopes 1 and 2 emissions (from firms’ own activities and purchased e...
Keywords: Mandatory carbon disclosure, Supply chains, Greenhouse gas emissions
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Annual Conference

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Accounting

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May 2024

Bankruptcy and Restructuring Outcomes of CLO-held Loans: The Role of CLO-Bank Relationships

Yupeng LIN, Dushyantkumar VYAS, Wanrong XU
Loans held by CLOs are often originated by banks with whom CLO managers have past trading relationships. Consistent with CLOs obtaining valuable private information with the help of these relationships, we find that firms whose loans are initially purchased by bank-related CLOs are less likely to ex...
Keywords: CLOs, Syndicated loans, Loan Contracting, Information Flow, bankruptcy, Corporate Restructuring
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Annual Conference

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Accounting

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May 2024

Strategic Secrecy or Managerial Shielding: Examining the Motives Behind Confidential Advertising Expenditures

Ofir GEFEN, Po-Hsuan HSU, Hsiao-Hui LEE, Hunghua PAN, David REEB
We examine the common practice of non-disclosure of corporate advertising expenditures. While some firms explicitly disclose these figures, others do not, suggesting that their expenditures are insignificant or that the firm prioritizes strategic secrecy. Theoretical and empirical research suggests ...
Keywords: Reported advertising, Disclosure, Competitive strategy, Managerial job security, and Valuation discounts
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