, 2022). Corporate culture matters because employees will ultimately face tough choices that cannot be effectively regulated ex ante (O'Reilly 1989; Griffin, Li, and Xu, 2021). In contrast to formal

test cycle information provided by vehicle manufacturers in complying with these regulations. However, it is recognized that emissions data provided by vehicle manufacturers has proven to be unreliable

unreliable results or even spurious relationships since measurement errors of CSR proxies may correlate with an error term of the regression model, which in turn causes bias in the estimation of regression

unreliable and/or have any significant changes in the future, the opinion provided by the IFA may differ accordingly. As a result, the IFA is unable to be held responsible for any adverse impacts on the

example is climate change risk and opportunity. The Ceres-led Carbon Asset Risk Initiative is posing tough questions to fossil fuel–based energy majors about their risk scenarios, and plans to devote new