The carbon disclosure project, an evolution in international environmental corporate governance : motivations and determinants of market response to voluntary disclosures

This paper examines the factors associated with Canadian firms voluntarily disclosing climate change information through the Carbon Disclosure Project. Five hypotheses are presented to explain the factors influencing management's decision to disclose this information. These hypotheses include a response to shareholder activism, domestic institutional investor shareholder activism, signalling, litigation risk, and low cost publicity. Both binary logistic regressions as well as a cross-sectional analysis of the equity market's response to the environmental disclosures being made were used to test these hypotheses. Support was found for shareholder activism, low cost publicity, and litigation risk. However, the equity market's response was not found to be statistically significant.

Accounting for Human Rights Violations Risk: Conflict Minerals Mandatory Disclosures under the Dodd Frank Act

This paper examines the equity market response to firms’ disclosure of human rights violation risk with regard to conflict mineral usage as required by Section 1502 of the Dodd-Frank Act (the Act). This paper assesses the aggregate equity market response to regulatory events leading to the passage of the Act, the equity market reaction to voluntary early disclosures and mandatory disclosures of conflict mineral information in Form SD, as well as the determinants of the equity market response. Using a sample of 4,399 US registrants from January 1, 2008 to September 30, 2014, we document a significant negative stock market reaction to the passage of the Act and to conflict minerals disclosures on Form SD. The equity market reaction is more negative and limited to companies that source their minerals from conflict zones, companies with human rights violations, and companies with ambiguous disclosures. Taken together, the results of this study provide an economic justification for companies with poor conflict minerals practices to improve in order to avoid high costs that will arise if firms are forced to disclose human rights abuses. This paper also provides preliminary evidence that Form SD is successful in reducing the governance gap that exposes investors to unnecessary sanction, litigation and reputation risk from firms’ activities in conflict minerals usage.

Private versus public : how one gay professor negotiates the boundaries between his personal and professional lives /

This study examined how one university professor negotiated the boundaries between his personal life as a gay man and his professional life as a teacher. Using his sexual orientation as a focal point, the study explored the circumstances and underlying assumptions that influenced this professor's decisions to disclose information of a personal nature. Data collection was solicited from a number of sources: (a) In-depth interviews with the participant, his colleagues, students, and friends; (b) Field observation of the participant teaching over a 3 -day period; and (c) A document review of lesson plans, course outlines, student feedback forms, and the participant's teaching portfolio. The researcher maintained both observation journals and reflective journals during this process. Data analysis using the constant comparative method elicited several themes. The participant engaged in a variety of strategies in disclosing his sexual orientation that included: (a) no disclosure at all, (b) assuming people knew, (c) casually mentioning it in conversation, and (d) deliberately planning to tell someone. The participant also engaged in an ongoing assessment of his environment that included evaluating the level of risk in disclosing his sexual orientation and assessing the listener's ability to receive the information. The participant cited numerous reasons for disclosing his sexual orientation. Further inquiry revealed a number of belief systems that underlined these reasons. These belief systems included beliefs around privacy, authenticity, teaching, manners, professionalism, and homosexuality. The conclusions suggested that the participant utilized a consistent process in both his personal and professional lives to determine what information was kept private and what information was made public. While the process used to determine the degree of disclosure was consistent, the actual disclosures themselves varied widely in nature.

Socially Constructed Environmental Issues and Sport: A Content Analysis of Ski Resort Environmental Communications

Due to the impact of sport on the natural environment (UN, 2010), it is important to examine the interplay between environmental issues and sport (Hums, 2010, Mallen & Chard, 2011; Nauright & Pope, 2009; Ziegler, 2007). This research content analyzed 82 ski resort environmental communications (SRECs). These communications were rated for their prominence, breadth, and depth using the delineation of environmental issues provided by the Sustainable Slopes Program (SSP) Charter. This data was compared to the resorts’ degree of environmentally responsible action as rated by the Ski Area Citizens’ Coalition (SACC). An adaptation of Hudson and Miller's (2005) model was then used to classify the ski resorts as inactive, reactive, exploitive, or proactive in their environmental activities. Recommendations have been made for standardization and transparency in environmental disclosures and an environmental management system to aid ski resorts in moving from ad hoc processes to a systematic and comprehensive framework for improving environmental performance.