Abstract
We examine the impact of social and environmental disclosures (SEDs) on information asymmetry. Employing data from 145 banks from 2005 to 2021 across 19 European (EU) countries. Our findings reveal that both SEDs reduce information asymmetry by increasing market liquidity. We further find that the observed impact of such disclosures is more pronounced for banks operating in countries that pay high attention to human development.
| Original language | English |
|---|---|
| Article number | 111487 |
| Journal | Economics Letters |
| Volume | 234 |
| DOIs | |
| State | Published - Jan 2024 |
UN SDGs
This output contributes to the following UN Sustainable Development Goals (SDGs)
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SDG 12 Responsible Consumption and Production
Keywords
- Environmental disclosure
- European banks
- Information asymmetry
- Market liquidity
- Social disclosure
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