Economic policy uncertainty and climate change: evidence from CO2 emission
In this paper, we study the relationship between Economic Policy Uncertainty (EPU) and carbon dioxide (CO2) emissions. Using an extensive dataset from 23 countries consisting of 6800 firm-year observations, we provide strong evidence that EPU increases firms' CO2 emissions. Our main inference i...
| VerfasserInnen: | ; |
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| Medienart: | Elektronisch Aufsatz |
| Sprache: | Englisch |
| Verfügbarkeit prüfen: | HBZ Gateway |
| Journals Online & Print: | Lade...
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| Fernleihe: | Fernleihe für die Fachinformationsdienste |
| Veröffentlicht: |
2024
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| In: |
Journal of business ethics
Jahr: 2024, Band: 191, Heft: 3, Seiten: 415-441 |
| weitere Schlagwörter: | B
Climate Change
B Economic policy uncertainty B CO2 emissions B Aufsatz in Zeitschrift B Environmental Performance |
| Online-Zugang: |
Volltext (lizenzpflichtig) Volltext (lizenzpflichtig) |
| Zusammenfassung: | In this paper, we study the relationship between Economic Policy Uncertainty (EPU) and carbon dioxide (CO2) emissions. Using an extensive dataset from 23 countries consisting of 6800 firm-year observations, we provide strong evidence that EPU increases firms' CO2 emissions. Our main inference is robust when using alternative measures of CO2 emissions and EPU, alternative econometric specifications and samples, and several approaches to control for possible endogeneity. In a set of additional analyses, we first show that a board's characteristics (i.e., board gender diversity and board independence) significantly moderate the studied relationship. Second, cross-country characteristics (i.e., government effectiveness, control of corruption, and democracy) seem important in the relationship between EPU and CO2 emissions. Our findings significantly contribute to the debate on firms' ethical responsibility in managing climate change and CO2 emissions. |
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| ISSN: | 1573-0697 |
| Enthält: | Enthalten in: Journal of business ethics
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| Persistent identifiers: | DOI: 10.1007/s10551-023-05389-x |
