Title : The Role of Risk Management Committee on the Relationship between Corporate Carbon Emission Disclosure and Capital Structure
Authors:
- Ardianto
- Nadia Anridho
- Suham Cahyono
- Abu Hanifah Md Noman Alam
- Harymawan Faith
Department : Accounting
Journal Name : Corporate Social Responsibility and Environmental Management Kinds of Journal: Q1
Keywords : Corporate Capital Structure, Corporate Carbon Emission Disclosure, Governance, Risk Management, Committee
Abstract:
This study aims to examine the association between carbon emission disclosure and corporate capital structure, moderated by the presence of a risk management committee. Specifically, we aim to explore whether the existence of a risk management committee can mitigate the risk by compans when formulating capital structure strategies. We use data from non-financial companies listed in the carbon disclosure project (CDP) from 2015 to 2021 that disclose information on carbon emissions. To test our hypothes, we employee fixed-effects regression with standard error estimates. Our finds provide evidence that carbon emission disclosure is positively related to corporate capital structure, and that the moderating effect of the risk management committee is also positively associated with carbon emission disclosure and corporate capital structure. In addition, We Conduct Robustness and Endogeneity Tests, Including Heckman (1979) Two-Stage Least Squares, Entropy Balancing, Propensity Score Matching, and
Two-Step GMM Using Arellano-Bond Estimation. Furthermore, our study includes a battery of cross-sectional tests to rigionus the main findings. Finally, our study contributes to the literature on sustainable strategies and sustainable financing at the corporate level.
For details : https://doi.org/10.1002/csr.2671
