Climate change disclosure and the information environment in the initial public offering market

نویسندگان

چکیده

We investigate whether climate change disclosures in initial public offering (IPO) prospectuses affect the information environment IPO market. find that are associated with lower underpricing. Further analyses reveal reputable underwriters and Securities Exchange Commission's Commission Guidance Regarding Disclosure Related to Climate Change enhance role of demonstrate firms more extensive provide stronger hedging benefits against risks post-IPO period. Overall, our results support crucial improving

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ژورنال

عنوان ژورنال: Accounting and finance

سال: 2023

ISSN: ['0810-5391', '1467-629X']

DOI: https://doi.org/10.1111/acfi.13085