The carbon disclosure project, an evolution in international environmental corporate governance : motivations and determinants of market response to voluntary disclosures

This paper examines the factors associated with Canadian firms voluntarily disclosing climate change information through the Carbon Disclosure Project. Five hypotheses are presented to explain the factors influencing management's decision to disclose this information. These hypotheses include a response to shareholder activism, domestic institutional investor shareholder activism, signalling, litigation risk, and low cost publicity. Both binary logistic regressions as well as a cross-sectional analysis of the equity market's response to the environmental disclosures being made were used to test these hypotheses. Support was found for shareholder activism, low cost publicity, and litigation risk. However, the equity market's response was not found to be statistically significant.

Name thesis:degree_name

M.Sc. Management

Level thesis:degree_level

Masters

Discipline thesis:degree_discipline

Faculty of Business

Department dc:contributor.department

Faculty of Business Programs

Grantor

Brock University

Year dc:date.issued

2010

Author dc:creator

• Wegener, Matt

• Carbon Disclosure Project
• Greenhouse gases -- Economic aspects -- Canada
• Social responsibility of business -- Canada
• Carbon dioxide mitigation
• Climatic changes -- Economic aspects -- Canada

Language dc:language.iso

eng

Handle dc:identifier.uri

http://hdl.handle.net/10464/3088

OAI identifier oai:identifier

oai:brocku.scholaris.ca:10464/3088