Analyst Coverage and Corporate Environmental Policies

Chenxing Jing · Kevin Keasey · Bin Xu

105 citations0/0 files storedJournal of Financial and Quantitative Analysis

No readable copy stored yet — this record is metadata only.

No open-access location is known for this record yet.

Literature note Cite in a project Citation map

Corporate Finance and Governance Auditing, Earnings Management, Governance Corporate Social Responsibility Reporting

Abstract

Abstract Exploiting two quasi-natural experiments, we find that firms increase emissions of toxic pollution following decreases in analyst coverage. The effects are stronger for firms with low initial analyst coverage, poor corporate governance, and firms subject to less stringent monitoring by environmental regulators. Decreases in environmental-related questions raised in conference calls, an increased cost of monitoring to institutional shareholders, reductions in pollution abatement investment, and the weakening of internal governance related to environmental performance are channels through which reduced analyst coverage contributes to increases in firm pollution. Our study highlights the monitoring role analysts play in shaping corporate environmental policies.

Paper brief

Loading…

Cite this work

Citation unavailable for this work.

BibTeX RIS CSL-JSON

No public copy is stored for this record, so only the metadata is cited.

Citations in this library

Citation map →

Stored only when both papers are in the corpus — 105 citations exist upstream.

References

1976Theory of the firm: Managerial behavior, agency costs and ownership structure 1995Toward a New Conception of the Environment-Competitiveness Relationship 2005The economic implications of corporate financial reporting 2003Corporate Governance and Equity Prices 2019The Importance of Climate Risks for Institutional Investors 2008What Matters in Corporate Governance?1999Home Bias at Home: Local Equity Preference in Domestic Portfolios 2009The price of sin: The effects of social norms on markets

Cited by

2024Climate change exposure and cost of equity 2023The spillover effect of advertising on the capital market: Evidence from financial constraints 2025Encouraging or inhibiting: Can analyst attention reduce corporate greenwashing behavior?2025Does data assetization matter to corporate green innovation: Evidence from China

Explore the map →

Papers that cite the same references — the relational fallback while embeddings are still backfilling.

Imported from OpenAlex (CC0) — nothing here is generated.