How government procurement shapes corporate climate disclosures, commitments, and actions

• 成果类型: Article
• 署名作者: Even-Tov, Omri; She, Guoman; Wang, Lynn Linghuan; Yang, Detian
• 署名单位: University of California System; University of California Berkeley; University of Hong Kong; Fudan University
• 刊物名称: REVIEW OF ACCOUNTING STUDIES
• ISSN/ISSBN: 1380-6653
• DOI: 10.1007/s11142-024-09866-0
• 发表日期: 2025
• 页码: 1968-2014
• 关键词: SOCIAL-RESPONSIBILITY; empirical-analysis; RISK; INFORMATION; specificity; CONTRACTS; ANALYST; shocks; cost

摘要

This study examines how government procurement impacts firms' environmental disclosures and whether they have tangible effects. Using a triple-difference research design that exploits the exogenous increase in federal funding allocations to counties based on population census revisions, we find that firms with high exposure to government contracts significantly increase climate disclosure following expanded procurement opportunities. We also document that enhanced disclosure is characterized by a positive tone that emphasizes firms' green investment and commitment to climate adaptation. The effect is more pronounced in counties with a greater increase in procurement volume and when firms have lower ex ante sustainability performance. Finally, we find firms that increase climate disclosure are more likely to earn government contracts, and they undertake real actions by reducing toxic emissions and enhancing the development of green products. Overall our results suggest government procurement promotes corporate climate responsibility by incentivizing firms to undertake climate mitigation actions.