As a tool for regulating the environment in China, does environmental information disclosure reduce pollutant discharge? To answer this question, we empirically analyzed the emission data of “the three wastes” in unit industrial GDP in 31 provincial units. As a measure to reduce institutional emission, environmental information disclosure only slightly influenced waste discharge reduction in the implementation period of the Eleventh Five-Year Plan of China. Instead, command control and market-based tools significantly affected waste discharge reduction. Representative (...) measures included penalties and charges. With the continuously enhanced pressure of control, environmental information disclosure facilitates the effects of command control tools on waste discharge reduction. Content analysis of environmental information disclosed by sample listed companies in Jiangsu Province was conducted. The disclosure of insufficient environmental information on emission reduction can be attributed to “adverse selection” in system performance and to the limited quality of overall environmental information disclosure. This study provides empirical evidence for Chinese policy makers to improve the system for environmental information disclosure of listed companies. (shrink)

The increased usage of questionable environmental marketing claims has become an issue of concern for academics, policy makers and consumers. Much of the research to date, has focused on the accuracy of environmental claims in advertisements, with the information on product packaging being largely ignored. This study uses a content analysis to examine the environmental information on packaging. More specifically it examines the packaging of the population of dishwashing liquid bottles available in grocery stores in (...) a large city in Australia. Evaluation criteria are developed to classify the various types of information and the degree to which the information is "misleading". Seven different informational categories and four accuracy categories are developed. These criteria are developed based on the existing environmental advertising literature and environmental marketing regulations in the U.S. and Australia. It was found that a majority of the packaging information can be classified as being not accurate. (shrink)

Environmental information disclosure (EID) is an important part of environmental management practices, and it has become a reference for stakeholders to evaluate firms. To obtain support from stakeholders, such as analysts, firms can disclose information that indicates how good they perform in environmental protection, which we referred to as EID quality, and/or that covers multiple aspects of environmental protection, which we referred to as EID breadth. Given the importance of EID practices, this study examines (...) whether and how these two dimensions of EID affect corporate financial performance (CFP). Analyzing a sample of publicly listed manufacturing firms from 2009 to 2019 in China, we find that EID breadth has a positive relationship with CFP, while EID quality has a negative impact on CFP after controlling for EID breadth. In addition, we find that the positive impact of EID breadth on CFP is achieved by enhancing analyst coverage, while the effect of EID quality on CFP is achieved by analyst recommendation. Our work contributes to the literature on EID by uncovering different mechanisms about how EID quality and EID breadth affect CFP and offers important implications regarding the management and governance of EID practices. (shrink)

Based on the institutional theory, this article attempts to examine two consecutive questions regarding the impact of various factors on corporate decision in environmental information disclosure (EID): (1) whether or not to disclose; and (2) the level of disclosure. The relevance of these factors is empirically tested using data collected from publicly listed manufacturing companies from 2006 to 2008 in China. Some interesting findings appear. We find that firms that are state-owned, those that operate in environmentally sensitive industries, (...) those having more industrial peers engaged in EID, and those with better reputation are more likely to disclose environmental information. When it comes to the content of EID, variables that attempt to capture external institutional pressures exhibit either no or weak explanatory power. Only the variable of organizational image and reputation is demonstrated to have a significant impact on both the act and the content of EID. This study provides a snapshot of the dialogues between constituencies in the organizational field and EID development. (shrink)

In this contribution we will briefly discuss the shareholders' need for social, ethical and environmental information and the efforts of corporations to address this need. Looking at three cases, we will raise some doubt with regard to the adequacy of corporate SEE reporting to meet the needs of shareholders. We will discuss the following three cases: BP's investments in Azerbaijan, Nike's management of its labour conditions, of child labour and security issues, and Monsanto's production of genetically modified seeds.

Green finance plays a crucial bridge as an intermediary between finance and the environment, facilitating resource allocation. The disclosure of environmental information (EID) is vital for promoting sustainable economic development. This study utilizes panel data covering the period from 2012 to 2019, focusing on Chinese companies listed in high-polluting industries. The findings demonstrate that green finance policies have a significant positive impact on EID, while increased managerial power has a detrimental effect. However, green finance policies can mitigate the (...) negative consequences arising from moral hazard and adverse selection resulting from managerial power. They enhance the quality of EID by restricting long-term loan resources for polluting entities. The heterogeneity test reveals that the effectiveness of green finance policies in promoting EID varies across different regions of China. In non-state-owned companies, green finance policies are more effective in constraining managerial power. The moderating effect of green finance on managerial power is weakened by improvements in internal control. Green financing can offset the adverse impact of managerial power on EID when debt levels are high. Our research plays a crucial role in advancing micro-academic studies in the field of green finance. By strengthening internal controls for corporate managers and promoting EID policies, we provide essential support and guidance to decision-makers. (shrink)

The purpose of the Chinese Environmental Information Disclosure System is to protect the environment through public participation and public opinion. This paper uses data from listed Chinese companies in heavily polluted industries from 2008 to 2013 to examine the influence that corporate political connection has on corporate environmental information disclosure level. The results show that firstly, while environmental disclosure level has improved over time, negative information that reflects the real status of environmental management (...) has also been concealed. Secondly, although corporate political connection can influence companies to more actively disclose environmental information, it can also mask political rent-seeking in the guise of protecting the environment. This is especially prevalent in state-owned enterprises where political connection has a significant positive impact on CEID in the eastern and western parts of China. If political connections influence CEID, it will be difficult to improve the quality of environmental disclosure and provide useful information for decision makers. There is an urgent need to standardize and strictly regulate listed companies’ system for environmental information disclosure. (shrink)

Citizen-gathered evidence (CGE) gathered by individuals organized in collectives have the potential to demonstrate environmental and social wrongdoings in court. We identify (collective) agency and resistance in how individuals and communities that have been exposed to socio-environmental stressors turn to gather CGE. We explore the modes through which people gather scientific data, produce CGE, alert authorities to environmental harm, and the methods by which data can be shared with communities, beginning with the case studies of civic (...) class='Hi'>environmental monitoring addressing coal ash pollution in North Carolina. We analyze the case studies through a theoretical lens built on (1) the theory of civic monitoring “as resistance;” (2) the argument that CGE can embody “collective intelligence;” and (3) the concept of “crowd science” through a decentralized yet coordinated network. In the first part of the article, we introduce the case studies. Then, we illustrate our theoretical frame as applied to the analysis of the cases. We discuss the cases and in particular the CGE at issue through the prism of the frame. We demonstrate how CGE can be valuable not only for civil society and civic organizations, but also for competent authorities. In our conclusion, we identify critical junctures of our case studies, such as that of “knowledge crowdsourcing” to demand justice that triggers the government to take action and the existence of a “coordinated” yet decentralized crowd to capture the full extension of the problem. Lastly, we outline the limitations of our study, a future research agenda, and still open questions. (shrink)

We have empirically examined the relationship between top executives’ turnover and the corporate environmental responsibility by identifying the influence of ten specific turnover reasons resulting in the chairman’s departure and two important types of chairman’s succession. Using a sample of 782 manufacturing listed companies across 3 years in China, we find that the corporate environmental responsibility is negatively associated with the involuntary and negative turnover (i.e., dismissal, health and death, and forced resignation) and positively associated with improving corporate (...) governance, and not associated with the normal turnover (i.e., retirement and contract expiration) and the types of chairman’s succession (i.e., independence, and internal or external promotion). Our study significantly contributes to research in environmental disclosure by revealing the relationship between chairman’s turnover and the corporate environmental responsibility. A feasible way is suggested to regulators and other stakeholders in monitoring or assessing the possible abnormality of environmental responsibility when firms experience involuntary and negative chairman’s turnover in the emerging economies. (shrink)

This article examines whether economic performance could affect EID and how the relationship is determined by the form of ownership from voluntarism to regulation under the current Chinese context. In this study, our empirical results show that the relationship between firms’ performance and EID is complex and the interactive impact of ownership and economic performance on EID significantly varies from voluntary disclosure to mandatory disclosure. This study provides a more comprehensive understanding of the motivations in corporate EID. The performance–impression theory (...) can be used to explain the disclosure behaviors during the period of voluntary disclosure, while the pressure–legitimacy theory can be used during the period of mandatory disclosure. The finding suggests that when evaluating corporate EID associated with economic performance in emerging economies such as China, it needs to be cautious, as which tends to vary with the form of ownership and whether there is any mandatory regulation in place. (shrink)

As a full expression of techne, the information society has already posed fundamental ethical problems, whose complexity and global dimensions are rapidlyevolving. What is the best strategy to construct an information society that is ethically sound? This is the question I discuss in this paper. The task is to formulate aninformation ethics that can treat the world of data, information, knowledge and communication as a new environment, the infosphere. This information ethics must be able to address (...) and solve the ethical challenges arising in the new environment on the basis of the fundamental principles of respect for information, its conservation and valorisation. It must be an ecological ethics for the information environment. (shrink)

The paper argues that Information Ethics (IE) can provide a successful approach for coping with the challenges posed by our increasingly globalized reality. After a brief review of some of the most fundamental transformations brought about by the phenomenon of globalization, the article distinguishes between two ways of understanding Global Information Ethics, as an ethics of global communication or as a global-information ethics. It is then argued that cross-cultural, successful interactions among micro and macro agents call for (...) a high level of successful communication, that the latter requires a shared ontology friendly towards the implementation of moral actions, and that this is provided by IE. There follows a brief account of IE and of the ontic trust, the hypothetical pact between all agents and patients presupposed by IE. (shrink)

This paper addresses the conflicting environmental interests of a firm and the community, an important stakeholder. The short-term profit maximization objective of a firm may stand in contrast with what the community wants – a "safe and clean environment". This paper argues that the information regarding the environmental impact of a firm's products, processes, and waste may be asymmetrically distributed between the firm and the community. The resultant information asymmetry may influence the probability of a firm (...) acting opportunistically, and ultimately, a firm's ethical behavior. The paper identifies information asymmetry between a firm and community, as well as that within the community. The perceived information asymmetry across various community segments may perhaps be a determinant of environmental discrimination. The paper further contends that information asymmetry may diminish in the long run. Finally it examines the implications of information asymmetry for firms and government policy. (shrink)

Environmental functions are defined as the possible uses of the non-human-made physical surroundings on which humanity is entirely dependent. Competing functions are by definition economic goods, indeed the most fundamental humanity disposes of. Environmental sustainability is defined as the dynamic equilibrium by which vital environmental functions remain available for future generations. Environmentally sustainable national income (eSNI) is defined as the maximum attainable production level by which vital environmental functions remain available for future generations. Thus the eSNI (...) provides information about the distance between the current and a sustainable situation. In combination with the standard national income (NI), the eSNI indicates whether the part of the production that is not based on sustainable use of the environment is increasing or decreasing in the course of time. Calculation of the eSNI involves the use of environmental models and a static general economic equilibrium model. It is shown that asymmetric entries are obscuring what is happening with both environment and production and that there is no conflict between employment and safeguarding the environment. (shrink)

According to information asymmetry theory and stakeholder theory, this article explores the impact and mechanism of environmental, social, and governance information disclosure on the company’s future stock price crash risk based on the A-share listed companies from 2010 to 2019. We find that ESG information disclosure significantly reduces the company’s future stock price crash risk. This conclusion remains robust after a series of robustness tests, such as PSM-DID. The heterogeneity analysis shows that the negative relationship between (...) ESG disclosure and stock price crash risk is more significant in state-owned enterprises, companies with higher agency costs, and when companies in the bull market. The mechanism is that companies choose to disclose ESG information to alleviate information asymmetry problems and enhance corporate reputation capital, thus reducing the future stock price crash risk. This article shows that strengthening ESG construction will help improve the efficiency of China’s resource allocation and promote the capital market development. (shrink)

Life-history-derived models of female sexual development propose menarche timing as a key regulatory mechanism driving subsequent sexual behavior. The current research utilized a twin subsample of the National Longitudinal Study of Adolescent to Adult Health (Add Health; _n_ = 514) to evaluate environmental effects on timings of menarche and sexual debut, as well as address potential confounding of these effects within a genetically informative design. Results show mixed support for each life history model and provide little evidence rearing environment (...) is important in the etiology of individual differences in age at menarche. This research calls into question the underlying assumptions of life-history-derived models of sexual development and highlights the need for more behavior genetic research in this area. (shrink)

This paper addresses the conflicting environmental interests of a firm and the community, an important stakeholder. The short-term profit maximization objective of a firm may stand in contrast with what the community wants – a "safe and clean environment". This paper argues that the information regarding the environmental impact of a firm's products, processes, and waste may be asymmetrically distributed between the firm and the community. The resultant information asymmetry may influence the probability of a firm (...) acting opportunistically, and ultimately, a firm's ethical behavior. The paper identifies information asymmetry between a firm and community, as well as that within the community. The perceived information asymmetry across various community segments may perhaps be a determinant of environmental discrimination. The paper further contends that information asymmetry may diminish in the long run. Finally it examines the implications of information asymmetry for firms and government policy. (shrink)

This article discusses experiences in the integrated teaching of Environmental Studies and Science Studies in a generalist curriculum at a university campus in Scotland. At the University of Glasgow Crichton Campus, a mixed curriculum has been developed to combine coherently Environmental and Science Studies, perhaps the first such curriculum in the UK and equally uncommon in America. The Crichton curricum is intentionally multi-disciplinary, drawing closely on the successful nineteenth-century Scottish model exported to America. This generalist approach, emphasising broad (...) philosophical principles, informs the courses and their inter-relationships. (shrink)

Environmental education aims to affect environmental knowledge and attitude to ultimately induce pro-environmental behavior. Based on 247 upper elementary school students, we tested the impact of an outdoor-based earth education program on environmental knowledge and attitude with a pre-post design. Both outcome measures were Rasch scales. Environmental knowledge is a composite of 27 system, action, and effectiveness knowledge items, and environmental attitude is a composite of 13 evaluative statements and 11 self-reported behaviors about nature (...) preservation. Our analysis revealed gains in environmental knowledge and attitude. The convergence between knowledge and attitude increased significantly from pre- to post-program, and attitude played a significant role in knowledge acquisition. (shrink)

Informal institutions are found to shape the behaviors of economic organizations within the business world by creating localized social norms and moral commitments. However, the existing literature pays greater attention to the financial consequences of such institutions, and little is known about their environmental impacts, especially in the context of transition economies. By linking institutional theory with environmental strategy literature, in this study, we develop a theoretical framework and empirically test how social trust, one of the dimensions of (...) informal institutions, influences corporate environmental responsibility. Using a longitudinal data set of Chinese listed firms from 2006 to 2015, we find support that firms located in regions with a higher level of social trust engage in more environmental responsibility activities. We also show that this effect is more pronounced when local environmental protests are fewer and information transparency is worse. Our findings highlight the importance of social trust in environmental governance and provide evidence of how it serves as a substitute for formal environmental institutions in transition economies. (shrink)

In certain cases of sudden death, forensic experts may discover during an investigation or autopsy that family members of the deceased are also at risk of harm—from genetic disease, for instance. But do they have a duty to warn them? Looking at similar duties of physicians and researchers to warn third parties of risk suggests they do.

With the emergence of environmental sustainability and green business management, increasing demands have been made on businesses in the areas of environmental corporate social responsibility. Furthermore, the influence of ECSR on green capital investment, environmental performance, and business competitiveness has also been the subject of attention from enterprises. However, in previous studies, the mediating role of green information technology capital in the relationship between ECSR, environmental performance, and business competitiveness, has not been investigated by researchers. (...) In order to bridge this gap in the ECSR literature, this study aims to examine the influence of ECSR on green IT capital, and the consequent effect of green IT capital on environmental performance and business competitiveness. Data were collected from 358 companies from the top 1000 manufacturers in Taiwan. The results confirmed that ECSR has significant positive effects on green IT human capital, green IT structural capital, and green IT relational capital. Green IT structural capital and green IT relational capital have positive effects on environmental performance and business competitiveness, and environmental performance has a positive effect on business competitiveness. In addition, green IT structural capital and green IT relational capital have partial mediating effects on ECSR, environmental performance, and business competitiveness. The implications and suggestions for future research are discussed. (shrink)

Environmental Ethics is a systematic account of values carried by the natural world, coupled with an inquiry into duties toward animals, plants, species, and ecosystems. A comprehensive philosophy of nature is illustrated by and integrated with numerous actual examples of ethical decisions made in encounters with fauna and flora, endangered species, and threatened ecosystems. The ethics developed is informed throughout by ecological science and evolutionary biology, with attention to the logic of moving from what is in nature to what (...) ought to be. The ethical theory is applied in detail to social, public, and business policy. Written in an engaging style, using diagrams and figures as well as numerous case studies, Environmental Ethics prods the reader into concrete application and invites reader participation in the ethical discussions. The ethics concludes by exploring the historical experiences of personal residence in a surrounding environment. Here is an adventure into what it means to live as responsible human beings in the community of life on Earth. In the series Ethics and Action, edited by Tom Regan. (shrink)

Factual information plays a vital role in public awareness of environmental problems, and in governmental interventions that this awareness provokes. There is a growing need for new information to define and explore these problems, and to allow consequent political decision-making. This article examines the policy process, making a distinction between knowing and deciding. It will become clear that information and policy, both of which arise when a minimal level of problem-consciousness is reached, are the two important (...) prime movers toward a better understanding and acceptance of environmental problems. Attention is given to information management as a prerequisite of communication management to influence attitudes and behavior, and to the role of communication in a total intervention-mix. (shrink)

Since the inception of their subject as a distinct area of study in philosophy, environmental ethicists have quarreled over the choice of entities with which an environmental ethic should be concerned. A dichotomous ontology has arisen with the ethical atomists, e.g., Singer and Taylor, arguing for moral consideration of individual organisms and the holists, e.g., Rolston and Callicott, focussing on moral consideration of systems. This dichotomous view is ecologically misinformed and should be abandoned. In this paper, I argue (...) that the organization of the natural world, as viewed by some ecologists and evolutionary biologists, is structured on various levels that are not reducible to one another. This hierarchical view, expressed by Salthe and Eldredge, provides the most complete and accurate ontology for environmental ethics. (shrink)

While environmental claims are increasingly used by companies to appeal consumers, they also attract greater scrutiny from independent parties interested in consumer protection. Consumers are now able to compare corporate environmental claims against external, often disconfirming, information to form their brand attitudes and purchase intentions. What remains unclear is how the level of information specificity of both the environmental claims and external disconfirming information interact to influence consumer reactions. Two experiments address this gap in (...) the CSR communication literature. When specific claims are countered by specific external information, consumers report more negative brand attitudes and lower purchase intentions. The effect is serially mediated by skepticism toward the claims and lack of corporate credibility. We conclude by discussing strategies that firms can utilize to avoid information dilution and ensure that external disconfirming information percolates to consumers as specific. (shrink)

In this paper we argue that there is a duty to inform consumers about the environmental impact of foods, and discuss what this duty entails and to whom it falls. We analyze previous proposals that justify ethical traceability with arguments from sustainability and the respect for the autonomy of consumers, showing that they cannot ground a duty to inform. We argue instead that the duty rests on the right of consumers not to be harmed, insofar as consumers have an (...) interest in the morality of their own agency that is frustrated if they are not informed about the environmental impact of the production and transport of what they consume. Our argument detaches the regulation of labeling from substantive theories of environmental ethics or perfectionist conceptions of citizens’ responsibility, thus defending a case for labeling that is compelling also for those who take the role of the state to be limited to the prevention of harm. (shrink)

This pilot study examined the idea that use of a mobile technology can have positive consequences for both individual users and, indirectly, society. The augmented reality (AR) application used here is defined as a persuasive technology because it is intended to modify users’ attitudes or behaviours. The application was designed for personal use although it can generate indirect benefits for users’ communities as well as for users themselves. The application was tested on a small sample in a controlled setting in (...) order to observe how it was used and to evaluate its efficacy as a source of information and tool for persuasion. The results showed that opinions of the AR device were generally positive; moreover, participants admitted that it improved their awareness of environmental issues. The strengths of this research are that it shows how the use of persuasive technologies can have collective benefits and demonstrates their informational power. (shrink)

Dutch municipalities are confronted with an increased number of prescribed environmental tasks and also with a growing demand, both from the central government and environmental pressure groups, to undertake environmental activities on their own initiative. This development over-taxed the information management of most municipalities. In the past few years, computer technology was introduced to relieve part of this pressure (e.g., by automation of registration systems). In this article we present a classification of computer applications for (...) class='Hi'>environmental management, investigate their possible impact on the environmental knowledge and information system, and distinguish between a formal and informal knowledge domain. Special attention will be paid to expert systems. (shrink)

In the twenty-first century, there has been a resurgence of ecologically conscious art among artists using new technologies. Like Eco-art, this recent movement, which might be called Eco-media, is interdisciplinary. Eco-media is heavily influenced by developments in environmental science, in particular developments in remote imaging and other kinds of remote Earth sensing (for example, the widespread use of satellite imaging and GPS) and developments in computer modelling (for example, detailed global models of climate that not only model the physics (...) of the Earth and solar system, but also explore the chemistry and biology of the Earth). This article will discuss developments in media art related to the computerized interpretation of complex data sets describing and modelling the natural world. It will explore work that has historically straddled artistic and scientific development, specifically Marey's work in the nineteenth century in photography and motion pictures and give examples of artists who are working in the area in-between art and science today. It will also discuss connections between this work and the historical Romantic sublime and the political dimension of this work as advocating for the preservation of the natural world, and give examples of some of the author's artworks in this area. (shrink)

The purpose of this paper is to evaluate the quality of Environmental, Social and Governance (ESG) reporting of Spanish companies listed in the IBEX-35 stock index Firstly, it establishes four requisites for quality in ESG reporting. Secondly, it evaluates whether ESG reports comply with these requirements. Using a benchmark tool based on GRI3 we can conclude that the GRI has resulted in some standardization of corporate social and environmental reporting, particularly as regards to format, but their approach to (...) indicators is unlikely to produce high quality information that is relevant, comparable, complete and accessible to all stakeholders. Also, there seems to be evidence that reporting is orientated to satisfy shareholders and investors´ demands rather than to other stakeholders´. (shrink)

Three experiments examined repetition priming for meaningful environmental sounds in a sound stem identification paradigm using brief sound cues. Prior encoding of target sounds together with their associated names facilitated subsequent identification of sound stems relative to nonstudied controls. In contrast, prior exposure to names alone in the absence of the environmental sounds did not prime subsequent sound stem identification performance at all . Explicit and implicit memory were dissociated such that sound stem cued recall was higher following (...) semantic than nonsemantic encoding, whereas sound priming was insensitive to manipulations of depth encoding . These results extend the findings of long-term repetition priming into the auditory nonverbal domain and suggest that priming for environmental sounds is mediated primarily by perceptual processes. (shrink)

This paper examines the effects of environmental factors on the ethical behavior of managers using computers at work in Mainland China. In this study, environmental factors refer to senior management, peer groups, company policies, professional practices, and legal considerations. Ethical behaviors include attitudes to disclosure, protection of privacy, conflict of interest, personal conduct, social responsibility, and integrity. A questionnaire survey was used for data collection, and 125 mainland Chinese managers participated in the study. The results show that peer (...) groups, professional practices, and legal considerations do influence the ethical behavior of mainland Chinese managers in the areas of social responsibility, integrity, and accountability. A discussion of the implications of the results is also provided in this paper. (shrink)

Human capital and ICT have a significant role in determining human development. The impacts of ICT and human capital on green growth and environmental sustainability should be explored for sustainable economic development. This research contributes to the literature on the role of ICTs and human capital in the determination of green growth and environmental performance. Based on time-series data 1990–2019, the study intends to investigate the impact of ICTs and human capital on environmental and green growth performance (...) for China. The study reports that ICTs tend to reduce CO2 emissions and improve green growth in the long-run. However, education reduces CO2 emissions in the long-run but does not produce any significant impact on green growth in the long-run. It is suggested that government should invest in environmental efficiency and environmental technologies simultaneously with human capital that could significantly contribute to pollution reduction. Lastly, policies to increase human capital should be implemented simultaneously with policies to promote ICTs contribution in order to confirm green growth and environmental protection. (shrink)

This paper investigates potential motivations for late adopting U.S. companies to begin disclosing environmental liability amounts in their financial statements. Based on a review of 10-K reports filed from 1998 through 2012, inclusive, we identified 55 firms initiating environmental liability disclosure over the period, with all but three doing so by 2006. Focusing on the disclosers up through 2006, we argue that the companies may have used the disclosure as a tool of impression management to avoid potential stakeholder (...) mis-estimation of previously undisclosed liability exposures. We first compute tests to identify firms that may have begun the disclosure due to (1) materiality and (2) concerns of having proprietary costs imposed upon them due to changes in their environmental media coverage and environmental performance, and we find very few cases where these explanations might hold. For the remaining companies, we compared their newly disclosed liability amount, on average, with the mean level of environmental liability being disclosed by other firms in the year prior to the sample companies’ initiation, and find that it is significantly smaller, thus supporting our impression management argument. Finally, we find that overall level of environmental liability amounts was consistently decreasing over the time frame examined, suggesting that earlier adoption would have made more sense. However, it may also explain why almost no new firms began disclosing after the mid-2000s. (shrink)

We theoretically discuss and empirically show how CEO power based on environmental expertise and formal influence over executives and directors, in the absence and presence of shareholder activism, spurs firms toward greener strategies. Our results support the idea that CEOs with informal power, grounded in expertise, reduce corporate environmental impact and this relationship is amplified when the CEO also enjoys formal power over the board of directors. Additionally, we found that any source of CEO power, whether informal or (...) formal, is a good catalyst for transforming shareholder activism into corporate greening. However, in the absence of such activism, only CEOs’ informal environmental expert power acts as a determinant of firm environmental performance. (shrink)