This study investigates the quality of voluntary disclosures on environmental policy by financial intermediaries (FIs), analyzing the Global Reporting Initiative's data. Through k‐means cluster analysis, four segments of FIs are identified. Our results show a heterogeneous reality. The quality of disclosures is associated to the FIs’ attributes and the home country's characteristics: FIs’ size and operating profitability, national economic wealth, and national environmental performance. No association is found with the FIs’ business area or their quotation on the stock market. The FIs’ relevance for their domestic economy is not significant either.
The Quality of Disclosures on Environmental Policy: The Profile of Financial Intermediaries
Alberici A.;QUERCI, FRANCESCA
2016-01-01
Abstract
This study investigates the quality of voluntary disclosures on environmental policy by financial intermediaries (FIs), analyzing the Global Reporting Initiative's data. Through k‐means cluster analysis, four segments of FIs are identified. Our results show a heterogeneous reality. The quality of disclosures is associated to the FIs’ attributes and the home country's characteristics: FIs’ size and operating profitability, national economic wealth, and national environmental performance. No association is found with the FIs’ business area or their quotation on the stock market. The FIs’ relevance for their domestic economy is not significant either.
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