Economic Uncertainty and Climate Change Exposure

dc.authorid Danisman, Gamze Ozturk/0000-0003-3684-6692
dc.authorid Bilyay Erdogan, Seda/0000-0001-6701-4448
dc.authorscopusid 57202730681
dc.authorscopusid 57219840525
dc.authorscopusid 57222086051
dc.authorwosid Erdogan, Seda/Aar-6053-2021
dc.authorwosid Ozturk Danisman, Gamze/P-1036-2019
dc.authorwosid Demir, Ender/J-8808-2017
dc.contributor.author Öztürk Danışman, Gamze
dc.contributor.author Erdoğan, Seda
dc.contributor.author Demir, Ender
dc.contributor.other International Trade and Finance
dc.date.accessioned 2025-01-15T21:38:24Z
dc.date.available 2025-01-15T21:38:24Z
dc.date.issued 2025
dc.department Kadir Has University en_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 Korea en_US
dc.description Danisman, Gamze Ozturk/0000-0003-3684-6692; Bilyay Erdogan, Seda/0000-0001-6701-4448 en_US
dc.description.abstract This 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.woscitationindex Science Citation Index Expanded
dc.identifier.citationcount 0
dc.identifier.doi 10.1016/j.jenvman.2024.123760
dc.identifier.issn 0301-4797
dc.identifier.issn 1095-8630
dc.identifier.pmid 39742763
dc.identifier.scopus 2-s2.0-85213545382
dc.identifier.scopusquality Q1
dc.identifier.uri https://doi.org/10.1016/j.jenvman.2024.123760
dc.identifier.volume 373 en_US
dc.identifier.wos WOS:001421877600001
dc.identifier.wosquality Q1
dc.language.iso en en_US
dc.publisher Academic Press Ltd- Elsevier Science Ltd en_US
dc.relation.publicationcategory Makale - Uluslararası Hakemli Dergi - Kurum Öğretim Elemanı en_US
dc.rights info:eu-repo/semantics/closedAccess en_US
dc.scopus.citedbyCount 0
dc.subject Climate Change en_US
dc.subject Economic Uncertainty en_US
dc.subject Paris Agreement en_US
dc.subject Ownership en_US
dc.title Economic Uncertainty and Climate Change Exposure en_US
dc.type Article en_US
dc.wos.citedbyCount 0
dspace.entity.type Publication
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