Abstract:We filter the risk disclosure statements that include climate change discussions from the recent 10 years of 10-K forms filed by all the public companies in the U.S. With this novel data, we conduct the Latent Dirichlet Allocation (LDA) analysis to identify the firms’ views of climate change at the industry and the economy level. We find that the clustered topics are material adverse financial condition, compliance costs of efficiency standards, physical effects of global climate, changing legislation regulati… Show more
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