Footnote:
In: Economics Letters
Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments January 22, 2022 erstellt
Description:
Exploiting the staggered adoption of corporate social responsibility (CSR) disclosure laws as a quasi-natural experiment and the difference in difference(DID) approach, we find that firms in countries that adopted CSR disclosure laws increased their green innovation output and quality relative to their counterparts. The causal relationship between CSR performance and environmental innovation is more pronounced for firms with lower governance and CSR disclosure standards before the mandates. Overall, our results provide evidence in support of the view that mandatory CSR disclosure regulations can hedge climate risks by inducing firms to invest in climate-mitigation technologies