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RESPONDING TO PUBLIC AND PRIVATE POLITICS: CORPORATE DISCLOSURE OF CLIMATE CHANGE STRATEGIES

机译:应对公共和私人政治:公司披露气候变化策略

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The challenges associated with climate change, will require governments, citizens, and firms to work collaboratively to reduce greenhouse gas emissions, a task that requires information on companies' carbon risks, opportunities, strategies, and emission levels. This paper explores the conditions under which firms participate in this endeavor. Building on theories of how social activists inspire changes in organizational norms, beliefs, and practices, we hypothesize that shareholder actions and regulatory threats are likely to prime firms to adopt practices consistent with the aims of a broader social movement. We find empirical evidence of direct and spillover effects. In the domain of private politics, shareholder resolutions filed against a firm and others in its industry increase a firm's propensity to engage in practices consistent with the aims of the related social movement. Similarly, in the realm of public politics, threats of state regulations targeted at a firm's industry as well as regulations targeted at other industries increase the likelihood that the firm will engage in such practices. These findings extend existing theory by showing that both activist groups and government actors can spur changes in organizational practices, and that challenges mounted against a single firm or a single industry can inspire both firm and field-level changes.
机译:与气候变化相关的挑战将要求政府,公民和企业共同努力以减少温室气体排放,这项任务需要有关企业的碳风险,机遇,战略和排放水平的信息。本文探讨了企业参与这项工作的条件。基于社会活动家如何激发组织规范,信念和实践变化的理论,我们假设股东行为和监管威胁可能促使公司采取与更广泛的社会运动的目标一致的实践。我们发现了直接和溢出效应的经验证据。在私人政治领域,针对公司和其行业中其他公司提出的股东决议增加了公司从事与相关社会运动的目标一致的实践的倾向。同样,在公共政治领域,针对企业行业的国家法规以及针对其他行业的法规的威胁增加了企业从事此类行为的可能性。这些发现扩展了现有理论,表明维权团体和政府行为者都可以刺激组织实践的变化,而针对单个公司或单个行业的挑战可以激发公司和领域的变化。

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