【报告主题】Migration of Global Supply Chains: A Real Effect of Mandatory ESG Disclosure
【主讲嘉宾】卢海，多伦多大学&北京大学会计学教授
【报告时间】2023年8月11日 10:00
【报告地点】会计学院108室
【内容提要】
This study examines firms’ global supply chain strategies following the staggered introduction of mandatory ESG disclosure in different countries. We find that mandatory ESG disclosure is associated with the selection of a greater number of new suppliers from countries with opaque ESG-related corporate information environments which resulted in improvement of firms’ perceived ESG profile. These findings suggest that mandated ESG disclosures motivate firms to appear de jure transparent about their supply chain practices but de facto ignorant about their real ESG-related responsibilities of their suppliers. Our findings also show that such effects are mitigated if the mandatory ESG disclosure guidelines include more targeted demands on supply chain due diligence processes. Further results show that supply chain composition changes in response to mandated ESG disclosure are less pronounced for firms located in countries with higher ESG-related social awareness, and firms subject to stronger external governance mechanisms such as monitoring of analysts and institutional investors. Our study informs policymakers and regulators on the global supply chain consequences stemming from the implementation of sustainability reporting guidelines.