一把双刃剑:可持续性主题的实质性分类
Max Göttsche1, Paul A Griffin2, Florian Habermann1,3
1Ingolstadt School of Management, Catholic University of Eichstätt-Ingolstadt, Ingolstadt, Germany.
概括
公司在可持续发展会计准则委员会 (SASB) 认为重要的主题上改善了可持续性业绩,而在非重要主题上则恶化了. 这一转变是由股东压力和与可持续性相关的高管薪酬推动的.
科学领域:
- 企业的可持续性 企业的可持续发展
- 财务报告 财务报告 财务报告
- 环境,社会和治理 (ESG) 绩效
背景情况:
- 可持续性会计准则委员会 (SASB) 将可持续性问题归类为对投资者的重大或非重大问题.
- 了解这些分类如何影响企业行为对于评估可持续性绩效至关重要.
研究的目的:
- 调查SASB分类是否以及如何影响美国公司的可持续性表现.
- 分析这些变化发生的道.
主要方法:
- 作为一个自然实验,利用了SASB分类 (2013-2016) 的分阶段发布.
- 使用RepRisk分数衡量企业的可持续性表现,反映ESG事件.
主要成果:
- 在SASB分类发布后,材料可持续性主题的RepRisk得分下降.
- 非物质可持续性主题的分数增加,表明重点转移.
- 公司调整了内部政策,使其与SASB分类保持一致.
结论:
- 公司优先考虑SASB认为重要的可持续性主题,可能以牺牲不重要的问题为代价.
- 股东压力和高管薪酬激励推动了企业可持续发展重点的这些变化.
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