诉讼压力和污染:股东诉讼如何塑造公司排放战略
Mohamed Shaker Ahmed1, Charilaos Mertzanis2
1Al Ain University, Abu Dhabi, United Arab Emirates.
Journal of environmental management
|November 14, 2025
概括
股东诉讼风险影响企业温室气体 (GHG) 排放. 由于普遍需求法,减少诉讼压力导致温室气体排放量显著增加,这表明诉讼压力有所降低.
科学领域:
- 环境,社会和治理 (ESG) 研究 研究
- 企业金融公司财务
- 法律与经济学 法律与经济学
背景情况:
- 股东诉讼风险是影响公司行为的一个关键因素.
- 了解其对环境决策的影响,特别是温室气体 (GHG) 排放,对于可持续性至关重要.
- 全民需求 (UD) 法律改变了股东衍生品诉讼的格局.
研究的目的:
- 调查股东诉讼风险与企业温室气体排放之间的因果关系.
- 确定诉讼风险影响管理决策和减排资源分配的道.
- 检查行业碳密度,融资约束和不可避免的披露原则 (IDD) 如何调节这种关系.
主要方法:
- 使用差异差异 (DiD) 研究设计.
- 分析了从1993年到2020年跨越标普500强公司的数据.
- 利用美国普遍需求 (UD) 法律的分阶段采用作为自然实验.
主要成果:
- 面临股东诉讼压力较低的公司 (UD后采用) 的温室气体排放量显著增加,估计增加了48%.
- 这一影响受到行业碳密度,融资限制以及不可避免的披露原则 (IDD) 的存在所缓和.
- 减少诉讼压力对排放的影响在高排放行业,在财务上受限制的公司和IDD州减弱.
结论:
- 股东诉讼作为一个外部治理机制,加强管理约束.
- 减少诉讼压力可能会削弱管理层对减排计划的参与.
- 调查结果强调了法律和财务因素在企业环境绩效中的作用.
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