Does climate governance affect waste disclosure? Evidence from the U.S

Tanveer Ahsan, Khaldoon Albitar, Ammar Gull () and Khaled Hussainey ()

Applied Economics, 2024, vol. 56, issue 43, 5146-5162

Abstract: Traditional corporate governance mechanisms can improve corporate financial and non-financial disclosures. However, how corporate climate governance affects firms’ waste disclosure remains unclear. Contributing to the emerging climate governance concept, this study investigates climate governance’s impact on waste disclosure using a sample of U.S. non-financial firms from 2002 to 2019. This study makes two contributions to the disclosure and governance literature. First, it shows that high-quality climate governance improves firms’ waste disclosure (including hazardous and non-hazardous waste disclosures). It reveals that climate governance quality affects firms’ waste disclosure through several channels. Second, we show that higher waste disclosure and climate governance quality reduce firms’ market performance. Climate governance quality has a significant positive moderating role in the relationship between waste disclosure and firms’ market performance; higher climate governance quality positively impacts firms’ market performance through waste disclosure. The results are robust to alternative proxies for waste disclosure, different regression techniques, and endogeneity issues.

Date: 2024
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DOI: 10.1080/00036846.2023.2244242

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