Economic Uncertainty and Climate Change Exposure

dc.authoridDanisman, Gamze Ozturk/0000-0003-3684-6692
dc.authoridBilyay Erdogan, Seda/0000-0001-6701-4448
dc.authorscopusid57202730681
dc.authorscopusid57219840525
dc.authorscopusid57222086051
dc.authorwosidErdogan, Seda/Aar-6053-2021
dc.authorwosidOzturk Danisman, Gamze/P-1036-2019
dc.authorwosidDemir, Ender/J-8808-2017
dc.contributor.authorDanisman, Gamze Ozturk
dc.contributor.authorBilyay-Erdogan, Seda
dc.contributor.authorDemir, Ender
dc.date.accessioned2025-01-15T21:38:24Z
dc.date.available2025-01-15T21:38:24Z
dc.date.issued2025
dc.departmentKadir Has Universityen_US
dc.department-temp[Danisman, Gamze Ozturk] Istanbul Bilgi Univ, Istanbul, Turkiye; [Bilyay-Erdogan, Seda] Kadir Has Univ, Fac Econ Adm & Social Sci, Istanbul, Turkiye; [Demir, Ender] Reykjavik Univ, Sch Social Sci, Dept Business & Econ, Reykjavik, Iceland; [Demir, Ender] Korea Univ, Business Sch, Seoul, South Koreaen_US
dc.descriptionDanisman, Gamze Ozturk/0000-0003-3684-6692; Bilyay Erdogan, Seda/0000-0001-6701-4448en_US
dc.description.abstractThis paper explores how economic uncertainty affects firms' climate change exposure. We use an extensive sample from 24 countries from 2002 to 2021. Employing a novel measure of firm-level climate change exposure developed by Sautner et al. (2023b), we empirically demonstrate that prior to the Paris Agreement in 2015, economic uncertainty leads to a decrease in climate change disclosures. However, after the Paris Agreement, our findings reveal a positive association between economic uncertainty and climate change exposure. The positive disclosure effect is primarily driven by higher climate-related opportunities and regulatory exposures. Our findings are robust when we employ alternative definitions for economic uncertainty, alternative samples, additional firm-level and country-level control variables, and alternative methodologies. We find that institutional and foreign ownership positively moderates the association between economic uncertainty and climate change exposure after the Paris Agreement. Further analysis investigates the moderating impact of country-level environmental performance indicators. We present novel empirical evidence suggesting that firms operating in countries with less climate vulnerability, higher readiness, more stringent environmental policies, superior climate protection performance, and higher environmental litigation risk tend to have higher climate change exposure in uncertain times.en_US
dc.description.woscitationindexScience Citation Index Expanded
dc.identifier.citationcount0
dc.identifier.doi10.1016/j.jenvman.2024.123760
dc.identifier.issn0301-4797
dc.identifier.issn1095-8630
dc.identifier.pmid39742763
dc.identifier.scopus2-s2.0-85213545382
dc.identifier.scopusqualityQ1
dc.identifier.urihttps://doi.org/10.1016/j.jenvman.2024.123760
dc.identifier.volume373en_US
dc.identifier.wosWOS:001421877600001
dc.identifier.wosqualityQ1
dc.language.isoenen_US
dc.publisherAcademic Press Ltd- Elsevier Science Ltden_US
dc.relation.publicationcategoryMakale - Uluslararası Hakemli Dergi - Kurum Öğretim Elemanıen_US
dc.rightsinfo:eu-repo/semantics/closedAccessen_US
dc.scopus.citedbyCount0
dc.subjectClimate Changeen_US
dc.subjectEconomic Uncertaintyen_US
dc.subjectParis Agreementen_US
dc.subjectOwnershipen_US
dc.titleEconomic Uncertainty and Climate Change Exposureen_US
dc.typeArticleen_US
dspace.entity.typePublication

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