题目:Climate Disclosure Mandates, Climate Reporting Specialists, and Labor Market Constraints
时间：2024年12月19日（周四）15:00-17:00
地点：浙江大学紫金港校区yl23411永利A423
主讲人：李聃，迈阿密大学赫伯特商学院博士生
主持人：王文明，yl23411永利百人计划研究员
主讲人简介：
Dan Li is a PhD Candidate in Accounting at the Miami Herbert Business School and a Chartered Financial Analyst (CFA). His primary research interest lies in financial capital markets, with a focus on human capital issues. His dissertation examines the labor-related costs of climate disclosure mandates and whether labor market constraints increase these costs and decrease the climate reporting activities driven by these mandates.
Dan Li is an ad-hoc reviewer for Review of Accounting Studies and British Accounting Review. Starting in July 2025, he will join Singapore Management University as an Assistant Professor.
He holds an M.Sc. in Finance from Washington University in St. Louis, an M.Sc. in Applied Finance from Singapore Management University, and a B.B.A. in Accounting from Xiamen University.
摘要：
This paper examines the labor-related costs of climate disclosure mandates and whether labor market constraints increase these costs and decrease the climate reporting activities driven by these mandates. I first classify a sample of climate reporting specialists (CRS) to measure firms’ hiring practices for job positions related to climate reporting. Using the European Union (EU)’s Non-Financial Reporting Directive (NFRD) as a setting, I find a significant increase in the acquisition of CRS in EU firms after the passage of the NFRD, compared to matched US firms. More importantly, EU firms pay a persistent wage premium to CRS that cannot be explained by position, firm, and individual characteristics and fill CRS positions with less qualified individuals, indicating that the increased demand for CRS leads to constraints in the labor market for CRS. These effects are more pronounced in positions that are non-entry level and in countries with fewer climate-related education programs. Lastly, I show that labor market constraints decrease firms’ climate reporting activities, undermining the effectiveness of the NFRD. Overall, this study quantifies the labor-related costs of climate disclosure mandates and highlights the labor-related challenges of implementing these mandates.
