A fundamental question in accounting is whether and to what extent financial reporting
facilitates the allocation of capital to the right investment projects. Over the last two decades …

Firms investing in environmental issues often suffer from increased operating costs and
reduced profits. Therefore, rigorous environmental legislation is required to motivate firms to …

Managerial myopia has an important impact on the future development of companies and
the legitimate rights of stakeholders; however, the impact of ESG ratings on managerial …

This article systematically reviews 94 accounting and finance studies that address the real
effects of financial reporting. Whereas the effects of financial reporting on capital suppliers' …

We examine the impact of a disclosure mandate for greenhouse gas emissions on firms'
subsequent emission levels and financial operating performance. For UK-incorporated listed …

Blockchains represent a novel application of cryptography and information technology to
age-old problems of financial record-keeping, and they may lead to far-reaching changes in …

Exploiting a unique setting in China where internal controls are intended to manage risks,
we investigate how internal controls shape the cash holding policies. Results show that firms …

With increasing stakeholders' demand for information on corporate social responsibility
(CSR) performance and a growing number of firms issuing standalone CSR reports, this …

We document a significant positive relation between drought risk and the cost of equity
capital. Our estimation shows that the cost of equity capital is 92 basis points higher for firms …

The occurrence of unexpected crises, such as the COVID-19 pandemic, creates a serious
disruption in business operations, causing many companies to reassess the way they …