The impact of governance quality on corporate climate risk disclosure: The role of the governance committee
研究了法国上市公司治理质量与气候风险披露的关系，发现治理质量越高披露越多，且治理委员会的存在增强了这一效应。
This study explores the relationship between corporate governance quality (CGQ) and corporate climate risk disclosure (CCRD), which aligns with the 13th Sustainable Development Goal. We apply text mining techniques to compute a unique CCRD score using manually collected annual reports of French SBF-120 nonfinancial firms listed from 2012 to 2022. Using an index-based measure of CGQ, the regression analyses investigate the association between CGQ and CCRD while considering the influence of the corporate governance committee. The empirical results reveal a substantive association between CGQ and CCRD: Better CGQ corresponds to higher CCRD, particularly after voluntary climate risk disclosure guidelines were introduced in 2017. The results also confirm the importance of the corporate governance committee, as its presence enhances the significance of the impact of CGQ on CCRD. These findings indicate that better CGQ reduces agency conflicts, aligns stakeholders' and managers' interests, and enhances the CCRD of French firms. These results are robust to alternative proxies of CCRD and CGQ and different regression models and techniques. • Better corporate governance quality increases corporate climate risk disclosure. • Governance committee enhances the impact of governance quality on climate risk disclosure. • The impact of the governance committee is different in sensitive and other industries.