Climate change has emerged as a significant challenge for humanity,and compared with other countries,China faces more severe climate transition risks.Taking Chinese A-share listed companies in Shanghai and Shenzhen from 2014 to 2022 as the research object,this paper empirically focuses on the impact of common institutional ownership on corporate climate transition risk disclosure.The findings show that common institutional ownership promotes corporate climate transition risk disclosure,thus validating the synergistic governance perspective.In terms of the mechanism of action,common institutional ownership effectively enhances the disclosure of corporate climate transition risk information by leveraging synergistic,informational and monitoring effects.Further research shows that the facilitating effect of common institutional ownership on corporate climate transition risk information disclosure is particularly significant in non-state-owned enterprises and enterprises that are not heavily polluting.Finally,climate risk transition information disclosure behavior driven by common institutional ownership can lead to improved corporate performance.
关键词
共同机构所有权/气候转型风险信息披露/协同效应/信息效应/监督效应
Key words
common institutional ownership/climate transition risk disclosure/synergistic effect/informational effect/monitoring effect
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