The effect of voluntary climate risk disclosure on forecast accuray: A moderation effect by environmental performance
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2019-08-27
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en
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Abstract
This thesis investigates the effect of voluntary climate risk disclosure on forecast accuracy and whether this effect is moderated by environmental performance. Using a sample of 2.362 publicly listed firms for the time period of 2011-2017, several regressions indicate a positive relationship between voluntary climate risk disclosure and forecast accuracy. No moderation effect by environmental performance on the effect of voluntary climate risk disclosure on forecast accuracy is found. No conclusive evidence is found with regards to the effect of individual disclosure of climate risks (i.e. physical, regulatory and miscellaneous) on forecast accuracy.
Keywords: Climate Risk Disclosure, CDP, Forecast Accuracy, Environmental Performance
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Faculteit der Managementwetenschappen