Wysocki, Peter D.Korganbekova, Aliya2024-05-202024https://hdl.handle.net/2144/48785Given the barriers to national and global climate change regulations, what are the real, disclosure and spillover effects of subnational regulations? Using the staggered adoption of U.S. state-level greenhouse gas (GHG) regulations as a natural experiment, I find significant reductions in corporate GHG emissions in adopting states. Affected firms report more representative GHG emissions information and reduce GHG-related 10-K risk disclosures. Furthermore, I document large spillover reductions in GHG emissions for treated firms’ affiliated operations in non-adopting states. These findings suggest possible alternate pathways to reduce GHG emissions and improve GHG disclosure if national or global policy coordination is not possible.en-USAccountingClimate changeDisclosureESGGHG emissionsSpillover effectState regulationThesis/Dissertation2024-05-200009-0008-6815-8740