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  1. Cheap Talk in Corporate Climate Commitments
    The effectiveness of climate initiatives
    Author: Bingler, Julia Anna; Kraus, Mathias; Leippold, Markus; Webersinke, Nicolas
    Published: [2022]
    Publisher:  SSRN, [S.l.]

    Corporate climate disclosures are considered an essential prerequisite to managing climate-related financial risks. At the same time, current disclosures are imprecise, inaccurate, and greenwashing-prone. We introduce a deep learning approach to... more

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    Location:
    Helmut-Schmidt-Universität, Universität der Bundeswehr Hamburg, Universitätsbibliothek
    Inter-library loan:
    No inter-library loan

    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Inter-library loan:
    No inter-library loan

     

    Corporate climate disclosures are considered an essential prerequisite to managing climate-related financial risks. At the same time, current disclosures are imprecise, inaccurate, and greenwashing-prone. We introduce a deep learning approach to enable comprehensive climate disclosure analyses by fine-tuning the \climatebert model. From 14,584 annual reports of the MSCI World index firms from 2010 to 2020, we extract the amount of cheap talk, defined as the share of precise versus imprecise climate commitments. We then test various hypotheses by linking three different climate initiatives, namely the Task Force on Climate-Related Financial Disclosure, the Science-Based Targets Initiative, and the Climate Action 100+, to the economic channels of signaling, credibility, and active engagement. In particular, we ask whether these initiatives decrease cheap talk by disciplining companies in how they define and disclose actionable climate commitments in their annual reports

     
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    Series: Swiss Finance Institute Research Paper ; No. 22-54
    Subjects: Corporate climate disclosures; voluntary reporting; commitments; TCFD recommendations; textual analysis; natural language processing
    Other subjects: Array
    Scope: 1 Online-Ressource (60 p)
    Notes:

    Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments January 2, 2022 erstellt
  2. Learning by litigating
    an application to antitrust commitments
    Author: Cosnita-Langlais, Andreea; Tropeano, Jean-Philippe
    Published: [2021]
    Publisher:  EconomiX - UMR7235, Université Paris Nanterre, Nanterre

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    Verlag (kostenfrei)
    Verlag (kostenfrei)

    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signature:
    VS 334
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    No inter-library loan
    Export to reference management software   RIS file
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Series: Working paper / EconomiX ; 2021, 37
    Subjects: antitrust; commitments; deterrence; legal learning
    Scope: 1 Online-Ressource (circa 37 Seiten), Illustrationen
  3. Cheap talk in corporate climate commitments
    the role of active institutional ownership, signaling, materiality, and sentiment
    Author: Bingler, Julia Anna; Kraus, Mathias; Leippold, Markus; Webersinke, Nicolas
    Published: 2022
    Publisher:  Swiss Finance Institute, Geneva

    Corporate climate disclosures based on the TCFD recommendations are considered an important prerequisite to managing climate-related financial risks. At the same time, current disclosures are imprecise, inaccurate, and greenwashing-prone. Yet,... more

    Access:
    Resolving-System (kostenfrei)
    Verlag (kostenfrei)
    Verlag (kostenfrei)

    Location:
    Helmut-Schmidt-Universität, Universität der Bundeswehr Hamburg, Universitätsbibliothek
    Inter-library loan:
    No inter-library loan

    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signature:
    VS 544
    Inter-library loan:
    No inter-library loan

     

    Corporate climate disclosures based on the TCFD recommendations are considered an important prerequisite to managing climate-related financial risks. At the same time, current disclosures are imprecise, inaccurate, and greenwashing-prone. Yet, existing research on this matter suffers from small samples or inaccuracies. Therefore, we introduce a scalable deep learning approach to enable comprehensive climate disclosure analyses of large samples by fine-tuning the ClimateBert model. Our model significantly outperforms previous approaches. We then extract the amount of cheap talk, defined as the share of precise versus imprecise climate commitments, of 14,584 annual reports of the MSCI World index firms from 2010 to 2020. Finally, we use this data to test various hypotheses on the drivers of cheap talk. We find that institutional ownership, targeted institutional investor engagement, materiality and downside risk disclosures are associated with less cheap talk. Signaling by publicly supporting the TCFD is associated with more cheap talk

     
    Export to reference management software   RIS file
      BibTeX file
    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    Series: Research paper series / Swiss Finance Institute ; no 22, 01
    Subjects: Corporate climate disclosures; voluntary reporting; commitments; TCFD recommendations; textual analysis; natural language processing
    Other subjects: Array
    Scope: 1 Online-Ressource (circa 59 Seiten), Illustrationen