Corporate carbon risk exposure, voluntary disclosure, and financial reporting quality
研究了企业碳风险暴露与财务报告质量的关系，发现碳风险越高，财务报告质量越差，且自愿碳披露部分中介了这一负向关联。
Abstract The study examines whether corporate carbon risk exposure is associated with financial reporting quality and whether voluntary carbon disclosure mediates the relationship. We analyze data drawn from firms traded on the Johannesburg Stock Exchange (JSE), for the period 2011 to 2015. We document robust evidence that firms with higher carbon risk exposure tend to provide financial statements of poorer quality (i.e., direct effect) and this association is partially mediated through voluntary carbon disclosure (i.e., indirect effect). The overall negative association between corporate carbon risk exposure and the firm's financial reporting quality is partly explained by the quality of voluntary carbon disclosure.