In this study, we examine the peer effect on climate risk information disclosure by analyzing A-share listed companies in China. We find that industry peers influence target firms' climate risk information disclosure through active (passive) imitation resulting from cost-benefit considerations (institutional pressures). Leader companies are more likely to be emulated by within-industry follower companies and target firms prefer to learn from similar withinindustry firms. Executive overconfidence and performance pressure negatively affect target firms' willingness to emulate their peers. Finally, the peer effect of climate risk information disclosure demonstrates a regional aspect. Our findings have implications for reasonable climate risk information disclosure at the micro level and effective regulation to move toward achieving carbon peak/neutrality at the macro level. (c) 2024 Sun Yat-sen University. Production and hosting by Elsevier B.V. This is an open access article under the CC BY-NC-ND license (http://creativecommons.org/licenses/by-nc-nd/4.0/).
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Georgia State Univ, J Mack Robinson Coll Business, 35 Broad St NW, Atlanta, GA 30303 USAGeorgia State Univ, J Mack Robinson Coll Business, 35 Broad St NW, Atlanta, GA 30303 USA
Cao, Sean Shun
Fang, Vivian W.
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Univ Minnesota, Carlson Sch Management, 321 19th Ave S, Minneapolis, MN 55455 USAGeorgia State Univ, J Mack Robinson Coll Business, 35 Broad St NW, Atlanta, GA 30303 USA
Fang, Vivian W.
Lei, Lijun
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Univ N Carolina, Bryan Sch Business & Econ, 516 Stirling St, Greensboro, NC 27412 USAGeorgia State Univ, J Mack Robinson Coll Business, 35 Broad St NW, Atlanta, GA 30303 USA
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Univ New South Wales, ARC Ctr Excellence Climate Extremes, Sydney, Australia
Univ New South Wales, Climate Change Res Ctr, Sydney, AustraliaUniv New South Wales, ARC Ctr Excellence Climate Extremes, Sydney, Australia
Pitman, A. J.
Saribatir, E.
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Univ New South Wales, ARC Ctr Excellence Climate Extremes, Sydney, Australia
Univ New South Wales, Climate Change Res Ctr, Sydney, AustraliaUniv New South Wales, ARC Ctr Excellence Climate Extremes, Sydney, Australia
Saribatir, E.
Greenhill, C.
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Univ New South Wales, Sch Math & Stat, Sydney, AustraliaUniv New South Wales, ARC Ctr Excellence Climate Extremes, Sydney, Australia
Greenhill, C.
Green, S.
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Univ New South Wales, ARC Ctr Excellence Climate Extremes, Sydney, Australia
Univ New South Wales, Climate Change Res Ctr, Sydney, AustraliaUniv New South Wales, ARC Ctr Excellence Climate Extremes, Sydney, Australia
Green, S.
Pitman, S. J.
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Univ New South Wales, Sch Chem, Sydney, AustraliaUniv New South Wales, ARC Ctr Excellence Climate Extremes, Sydney, Australia
Pitman, S. J.
Fiedler, T.
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Univ New South Wales, Inst Climate Risk & Response, Sydney, AustraliaUniv New South Wales, ARC Ctr Excellence Climate Extremes, Sydney, Australia
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Xiamen Univ, China Inst Studies Energy Policy, Sch Management, Fujian 361005, Peoples R ChinaXiamen Univ, China Inst Studies Energy Policy, Sch Management, Fujian 361005, Peoples R China
Lin, Boqiang
Wu, Nan
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Xiamen Univ, China Inst Studies Energy Policy, Sch Management, Fujian 361005, Peoples R ChinaXiamen Univ, China Inst Studies Energy Policy, Sch Management, Fujian 361005, Peoples R China
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Univ Luxembourg, Fac Law Econ & Finance, Dept Econ & Management, 6 Rue Richard Coudenhove Kalergi, L-1359 Luxembourg, Luxembourg
Minist Travail Emploi & Econ Sociale & Solidaire, Luxembourg, LuxembourgUniv Luxembourg, Fac Law Econ & Finance, Dept Econ & Management, 6 Rue Richard Coudenhove Kalergi, L-1359 Luxembourg, Luxembourg
Weber, Veronique
Mubig, Anke
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Univ Luxembourg, Fac Law Econ & Finance, Dept Econ & Management, 6 Rue Richard Coudenhove Kalergi, L-1359 Luxembourg, LuxembourgUniv Luxembourg, Fac Law Econ & Finance, Dept Econ & Management, 6 Rue Richard Coudenhove Kalergi, L-1359 Luxembourg, Luxembourg