气候变化领域集成服务门户(CCPortal): Climate Regulation and Emissions Abatement: Theory and Evidence from Firms' Disclosures

CCPortal

DOI	10.1287/mnsc.2021.00482
	Climate Regulation and Emissions Abatement: Theory and Evidence from Firms' Disclosures
	Ramadorai, Tarun; Zeni, Federica
发表日期	2024
ISSN	0025-1909
EISSN	1526-5501
英文摘要	We measure firms' beliefs about climate regulation, plans for future abatement, and current emissions mitigation from responses to the Carbon Disclosure Project. These measures vary strikingly around the Paris announcement. A dynamic model of a representative firm facing a future carbon levy, trading off abatement and capital growth, and facing convex adjustment costs cannot fit the data. A two-firm model with crossfirm reputational externalities, heterogeneous beliefs over climate regulation, and leaderfollower interactions does. Out of sample, the model predicts firms' reactions when the United States exits the Paris agreement. Firms' beliefs about climate regulation strongly affect abatement, and crossfirm interactions amplify regulatory impacts.
英文关键词	climate change; climate regulation; carbon emissions; finance; investment
语种	英语
WOS研究方向	Business & Economics ; Operations Research & Management Science
WOS类目	Management ; Operations Research & Management Science
WOS记录号	WOS:001170458700001
来源期刊	MANAGEMENT SCIENCE
文献类型	期刊论文
条目标识符	http://gcip.llas.ac.cn/handle/2XKMVOVA/289835
作者单位	Imperial College London; Center for Economic & Policy Research (CEPR); The World Bank
推荐引用方式 GB/T 7714	Ramadorai, Tarun,Zeni, Federica. Climate Regulation and Emissions Abatement: Theory and Evidence from Firms' Disclosures[J],2024.
APA	Ramadorai, Tarun,&Zeni, Federica.(2024).Climate Regulation and Emissions Abatement: Theory and Evidence from Firms' Disclosures.MANAGEMENT SCIENCE.
MLA	Ramadorai, Tarun,et al."Climate Regulation and Emissions Abatement: Theory and Evidence from Firms' Disclosures".MANAGEMENT SCIENCE (2024).