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| DOI | 10.1080/09638180.2024.2301932 |
| Spillover Effect of Climate Disaster for Management Forecast | |
| 发表日期 | 2024 |
| ISSN | 0963-8180 |
| EISSN | 1468-4497 |
| 英文摘要 | Climate disasters not only impose substantial economic costs on firms that are directly exposed, but they also generate significant externalities. In this study, I examine how climate disasters hitting product market peers affect management forecasts of a firm that was not directly exposed to significant climate disasters. I find that a firm is less likely to issue an earnings forecast when its product market peers experienced significant climate disasters. The spillover effects are mitigated by the focal firm's past disaster experience or climate change-related regulatory intervention. My findings are robust to controlling for various alternative explanations. I also find some evidence that climate disasters hitting product market peers are associated with lower efficiency of a firm's innovation efforts. Collectively, my evidence suggests that an idiosyncratic shock such as climate disaster causes spillover effects transmitted across the entire market through distorting management forecasts and strategic planning. |
| 英文关键词 | Management forecast; climate disaster; spillover effect; information transfer; innovation |
| 语种 | 英语 |
| WOS研究方向 | Business & Economics |
| WOS类目 | Business, Finance |
| WOS记录号 | WOS:001152498700001 |
| 来源期刊 | EUROPEAN ACCOUNTING REVIEW
 |
| 文献类型 | 期刊论文 |
| 条目标识符 | http://gcip.llas.ac.cn/handle/2XKMVOVA/291891 |
| 作者单位 | University of Massachusetts System; University of Massachusetts Boston |
| 推荐引用方式 GB/T 7714 | . Spillover Effect of Climate Disaster for Management Forecast[J],2024. |
| APA | (2024).Spillover Effect of Climate Disaster for Management Forecast.EUROPEAN ACCOUNTING REVIEW. |
| MLA | "Spillover Effect of Climate Disaster for Management Forecast".EUROPEAN ACCOUNTING REVIEW (2024). |
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