Climate Change Risk Disclosure and Accounting Choice: Evidence From U.S. Oil and Gas Companies
Joanna (Jingwen) Zhao,
Xinruo Wang,
David C. Yang
Abstract:Focusing on U.S. oil and gas companies following the SEC’s investigation of ExxonMobil’s climate risk issues, this study investigates the impact of climate change risk (CCR) disclosure on corporate accounting choices. After examining U.S. oil and gas firms’ 10-K filings, carbon disclosure project (CDP) reports, and multi-source corporate sustainability reports, we find a positive association between CCR disclosure and the full cost (FC) accounting choice, designating that oil and gas firms with greater CCR dis… Show more
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