Employee stock ownership and voluntary carbon disclosure in France

Nicolas Aubert (), Joseph Abdel Nour () and Walid Ben Amar
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Joseph Abdel Nour: ESSCA Research Lab - ESSCA - ESSCA – École supérieure des sciences commerciales d'Angers = ESSCA Business School
Walid Ben Amar: University of Ottawa [Ottawa]

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Abstract: This paper investigates the relationship between Employee Stock Ownership (ESO) and voluntary carbon disclosures. Given that previous research has shown the beneficial effects of ESO on work attitudes and corporate performance, we link ESO and board representation with the attributes of voluntary climate-related disclosures. We use three proxies to capture these attributes: corporate decisions to respond to the Carbon Disclosure Project (CDP) annual questionnaire; corporate decisions to make responses publicly available, and the quality of a firm's disclosures on climate-change-related risks and strategies to mitigate them. Our results show a positive association between ESO and decisions to both answer the CDP questionnaire, and make responses publicly available. In contrast, ESO does not seem to impact carbon disclosure quality. The findings contribute to the ongoing debate on the determinants of voluntary climate change disclosures, highlighting the importance of ESO to enhance the transparency of voluntary disclosures of climate change business impacts.

Keywords: employee stock ownership; carbon disclosure; climate change; sustainability; carbon disclosure project (search for similar items in EconPapers)
Date: 2022-12-16
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Published in LES ENTRETIENS DE LA FINANCE DURABLE LES FUTURS POSSIBLES Un Forum de débat entre Professionnels et Académiques, Dec 2022, Paris, France

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Working Paper: Employee Stock Ownership and Voluntary Carbon Disclosure in France (2021)
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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-03951350

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