References:

Abdelmotaal, H., & Abdel-Kader, M. (2016). The use of sustainability incentives in executive
remuneration contracts: Firm characteristics and impact on the shareholders’ returns.
Journal of Applied Accounting Research, 17(3), 311-330.
Amor-Esteban, Víctor, Ma-Purificación Galindo-Villardón, and Isabel-María García-Sánchez.
2018. “Industry Mimetic Isomorphism and Sustainable Development Based on the XSTATIS
and HJ-Biplot Methods.” Environmental Science and Pollution Research
International, July. https://doi.org/10.1007/s11356-018-2663-1.
Ariely, Dan. 2010. Predictably Irrational, Revised and Expanded Edition: The Hidden Forces
That Shape Our Decisions. HarperCollins.
Bebchuk, L. A., & Fried, J. M. (2006). Pay without Performance Overview of the issues. The
Academy of Management Perspectives, 20(1), 5-24.
Birshan, M., Gibbs, E., & Strovink, K. (2014). Rethinking the role of the strategist. McKinsey
Quarterly, 9. Retrieved from http://www.mfhonline.
com/uploads/9/4/0/0/94009645/research_report_strategist.pdf.
Brickley, James A., and Jerold L. Zimmerman. 2010. “Corporate Governance Myths: Comments
on Armstrong, Guay, and Weber.” Journal of Accounting and Economics 50 (2): 235–45.
Canadian Coalition for Good Governance (CCGG). (May, 2018). The Directors’ E&S
Guidebook. https://www.ccgg.ca/site/ccgg/assets/pdf/the_directors__e_s_guidebook.pdf.
Ceres, (2018). Turning Point: Corporate Progress on the Ceres Roadmap for Sustainability.
https://www.ceres.org/node/2275.
Cobb, J. A. (2016). How firms shape income inequality: Stakeholder power, executive decision
making, and the structuring of employment relationships. Academy of Management Review,
41(2), 324-348.
Connelly, B. L., Tihanyi, L., Certo, S. T., & Hitt, M. A. (2010). Marching to the beat of different
drummers: The influence of institutional owners on competitive actions. Academy of
Management Journal, 53(4), 723-742. doi:10.5465/AMJ.2010.52814589.
Core, John E., Wayne R. Guay, and David F. Larcker. 2003. “Executive Equity Compensation
and Incentives: A Survey.” https://doi.org/10.2139/ssrn.276425.
Cormier, D., & Magnan, M. (2015). The economic relevance of environmental disclosure and its
impact on corporate legitimacy: An empirical investigation. Business Strategy and the
Environment, 24(6), 431-450. doi:10.1002/bse.1829.
Corporate Knights. (2016). “2016 Global 100”. Jan. 20, 2016. http://www.corporateknights.com
/reports/global-100/spotlight-on-the-2016-global-100-14533333/.
CSA (Canadian Securities Administrators), (August 1, 2019). CSA Staff Notice 51-358:
Reporting of Climate Change-related Risks.
https://www.osc.gov.on.ca/documents/en/Securities-Category5/csa_20190801_51-
358_reporting-of-climate-change-related-risks.pdf.
Dahlmann, F., Branicki, L., & Brammer, S. (2017). Carrots for corporate sustainability’: Impacts
of incentive inclusiveness and variety on environmental performance. Business Strategy and
the Environment.
David, P., O'Brien, J. P., Yoshikawa, T., & Delios, A. (2010). Do shareholders or stakeholders
appropriate the rents from corporate diversification? The influence of ownership structure.
Academy of Management Journal, 53(3), 636-654.
De Angelis, David, and Yaniv Grinstein. 2015. “Performance Terms in CEO Compensation
Contracts.” Review of Finance 19 (2): 619–51.
DiMaggio, Paul J., and Walter W. Powell. 1983. “The Iron Cage Revisited: Institutional
Isomorphism and Collective Rationality in Organizational Fields.” American Sociological
Review 48 (2): 147–60.
DiNapoli, T. P. (Dec. 12, 2017). Media Release: ‘NYS Comptroller DiNapoli: ExxonMobil
Agrees to Assess Impacts of Climate Change.
https://www.osc.state.ny.us/press/releases/dec17/121217.htm.
Durnev, Art, and Claudine Mangen. 2009. “Corporate Investments: Learning from
Restatements.” Journal of Accounting Research 47 (3): 679–720.
Edmans, A., Gabaix, X., & Jenter, D. (2017). Executive Compensation: A Survey of Theory and
Evidence. Retrieved from http://dx.doi.org/10.3386/w23596
Eisenhardt, K. M. (1989). Agency theory: An assessment and review. Academy of Management
Review, 14(1), 57-74.
Elkington, John. (1997). "Cannibals with forks." The triple bottom line of 21st century.
FactSet. (2018). ‘At a glance: FactSet Ownership Standard Datafeed’.
https://insight.factset.com/resources/at-a-glance-factset-ownership-standard-datafeed.
Fink, L. (2018). Larry Fink’s Letter to CEOs | BlackRock. Retrieved from
https://www.blackrock.com/corporate/investor-relations/larry-fink-ceo-letter.
Flammer, C., Hong, B., & Minor, D. (2019). Corporate governance and the rise of integrating
corporate social responsibility criteria in executive compensation: Effectiveness and
implications for firm outcomes. Strategic Management Journal, 40(7), 1097–1122.
Frydman, Carola, and Dirk Jenter. 2010. “CEO Compensation.” Annual Review of Financial
Economics 2 (1): 75–102.
Gabel, H. L., & Sinclair-Desgagné, B. (1993). Managerial incentives and environmental
compliance. Journal of Environmental Economics and Management, 24, 229-240.
Grabner, I., Renders, A., & Yang, L. (2016). The complementarity between CSR disclosures and
the use of CSR-based performance measures in CEO annual incentive contracts. Retrieved
from Google Scholar: http://ssrn.com/abstract=2821379.
Griffin, Paul A., David H. Lont, and Estelle Y. Sun. 2017. “The Relevance to Investors of
Greenhouse Gas Emission Disclosures.” Contemporary Accounting Research 34 (2): 1265–
97.
Guay, W. R., Kepler, J., & Tsui, D. (2017, November 7). The Role of Executive Cash Bonuses in
Providing Individual and Team Incentives. Retrieved from
https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2849934
Harrast, S., & Olsen, L. (2016). Climate change disclosures are getting hotter. Journal of
Corporate Accounting & Finance, 27(5), 21-28.
Hong, B., Li, Z., & Minor, D. (2015). Corporate governance and executive compensation for
corporate social responsibility. Journal of Business Ethics, 1-15.
Hopper, T., & Hoque, Z. (2006). Triangulation approaches to accounting
research. Methodological issues in accounting research: theories and methods, 477-486.
IRRC & Sustainable Investments Institute. (2013). “Integrated Financial and Sustainability
Reporting in the United States”.
Ittner, C. D., Larcker, D. F., & Rajan, M. V. (1997). The choice of performance measures in
annual bonus contracts. Accounting Review, 231-255.
Jo, H., & Harjoto, M. A. (2012). The causal effect of corporate governance on corporate social
responsibility. Journal of Business Ethics, 106(1), 53-72. doi:10.1007/s10551-011-1052-1.
Kaplan, R. S. (2009). Conceptual Foundations of the Balanced Scorecard. In C. S. Chapman, A.
G. Hopwood, & M. D. Shields (Eds.), Handbooks of Management Accounting Research
(Vol. 3, pp. 1253–1269). Elsevier.
Karpoff, J. M., & Wittry, M. D. (2015). Institutional and political economy considerations in
natural experiments: The case of state antitakeover laws. Available at SSRN 2493913.
Keyes, S., & Willis, A. (2017). Climate Change Briefing: Questions for Directors to Ask. CPA
Canada. Retrieved from
https://www.nrcan.gc.ca/sites/www.nrcan.gc.ca/files/energy/energyresources/
Climate_Change_Briefing_Questions_for_Directors_to_Ask_-_August_2017.pdf
Kolk, A., & Perego, P. (2014). Sustainable bonuses: Sign of corporate responsibility or window
dressing? Journal of Business Ethics, 119(1), 1-15.
Maas, K. (2018). Do Corporate Social Performance Targets in Executive Compensation
Contribute to Corporate Social Performance? Journal of Business Ethics: JBE, 148(3), 573–
585.
Maas, K., & Rosendaal, S. (2016). Sustainability targets in executive remuneration: Targets, time
frame, country and sector specification. Business Strategy and the Environment, 25(6), 390-
401.
Martin, D., & Magnan, M. (2017). Is executive compensation just or unjust? An efficiency
perspective. Working paper.
McCahery, Joseph A., Zacharias Sautner, and Laura T. Starks. 2016. “Behind the Scenes: The
Corporate Governance Preferences of Institutional Investors.” The Journal of Finance 71
(6): 2905–32.
Murphy, K. J. (2012). Executive compensation: Where we are, and how we got there. Handbook
of the Economics of Finance. Elsevier Science North Holland (Forthcoming).
Neubaum, D. O., & Zahra, S. A. (2006). Institutional ownership and corporate social
performance: The moderating effects of investment horizon, activism, and coordination.
Journal of Management, 32(1), 108-131.
Nocera, J. (June 23, 2017). “Mylan Shareholders Tilt at Executive-Pay Windmill”. Bloomberg.
https://www.bloomberg.com/view/articles/2017-06-23/mylan-shareholders-tilt-at-executivepay-
windmill?utm_content=view&utm_campaign=socialfloworganic&
utm_source=twitter&utm_medium=social&cmpid%3D=socialflow-twitter-view.
Rodrigue, M., Magnan, M., & Boulianne, E. (2013). Stakeholders’ influence on environmental
strategy and performance indicators: A managerial perspective. Management Accounting
Research, 24(4), 301-316.
Royal Dutch Shell Annual Report 2016. (2016). Retrieved from http://reports.shell.com/annualreport/
2016/.
Schueth, S. (2003). Socially responsible investing in the united states. Journal of Business
Ethics, 43(3), 189-194.
SEC. (2010). Commission Guidance Regarding Disclosure Related to Climate Change Release
No. 33-9106. (Commission Guidance Regarding Disclosure Related to Climate Change).
Retrieved from https://www.sec.gov/rules/interp/2010/33-9106.pdf.
SEC. (2016). Business and Financial Disclosure Required by Regulation S-K Concept Release
No. 33-10064. Retrieved from https://www.sec.gov/rules/concept/2016/33-10064.pdf.
Smith, M. (2017). Research methods in accounting. Sage.
Soleimani, A., Schneper, W. D., & Newburry, W. (2014). The impact of stakeholder power on
corporate reputation: A cross-country corporate governance perspective. Organization
Science, 25(4), 991-1008.
Spitzeck, H., & Hansen, E. G. (2010). Stakeholder governance: How stakeholders influence
corporate decision making. Corporate Governance, 10(4), 378-391.
Supreme Court of Canada Decision. (2008). BCE Inc. and Bell Canada.
Sur, S., Magnan, M., & Cordeiro, J. (2015). Disentangling CEO compensation: A simultaneous
examination of time, industry, and firm-level effects. Canadian Journal of Administrative
Sciences/Revue Canadienne des Sciences De L'Administration, 32(1), 30-46.
Tasker, J. P. (2016, December 10). Trudeau announces “pan-Canadian framework” on climate
— but Sask., Manitoba hold off. CBC News. Retrieved from
http://www.cbc.ca/news/politics/trudeau-premiers-climate-deal-1.3888244.
The Conference Board. (2014). “Proxy Voting Analytics (2010-2014)”.
The Forum for Sustainable and Responsible Investment. (2017). Sustainable and Impact
Investing in the United States Overview. [Web page]. Retrieved from
http://www.ussif.org/files/Infographics/Overview%20Infographic.pdf.
Thomson Reuters. (2019). Global warming could render the assets of many financial companies
worthless, Mark Carney warns. (2019, December 30). Financial Post.
https://business.financialpost.com/news/fp-street/boes-carney-says-finance-must-act-fasteron-
climate-change
Vollmer, Andrew N. (2011). Consideration of Section 13(d) Rules, File No. 4-624. Retrieved
from https://www.sec.gov/comments/4-624/4624-5.pdf
World Economic Forum. (2018). The Global Risks Report 2018 13th Edition. Retrieved from
http://www3.weforum.org/docs/WEF_GRR18_Report.pdf.
Abdelmotaal, H., & Abdel-Kader, M. (2016). The use of sustainability incentives in executive
remuneration contracts: Firm characteristics and impact on the shareholders’ returns. Journal of
Applied Accounting Research, 17(3), 311-330.
Baker, D., Bivens, J., Scheider, J. (2019). Reining in CEO compensation and curbing the rise of
inequality. Retrieved from Economic Policy Institute website:
https://www.epi.org/files/pdf/168855.pdf.
BBC News. (2019, November 29). The Swedish schoolgirl who inspired a generation. BBC.
https://www.bbc.com/news/world-europe-49918719
Bebchuk, L. A., & Fried, J. M. (2006). Pay without Performance Overview of the issues. The
Academy of Management Perspectives, 20(1), 5-24.
Blasco, J. L., King, A. (2017). The road ahead: The KPMG survey of corporate responsibility
reporting 2017. KPMG. https://assets.kpmg/content/dam/kpmg/xx/pdf/2017/10/executivesummary-
the-kpmg-survey-of-corporate-responsibility-reporting-2017.pdf
Boiral, O., & Henri, J.-F. (2015). Is Sustainability Performance Comparable? A Study of GRI
Reports of Mining Organizations. Business & Society, 56(2), 283–317.
Borduas, C.-É., & Vrtkova, P. (2019). Stakeholders’ primacy: paradigm shift confirmed. Norton,
Rose, Fulbright.
Bousso, R., Schaps, K. (Dec. 1, 2016). “Shell ties in bonuses to reinforced emissions strategy”.
http://www.reuters.com/article/us-shell-emissions-idUSKBN13Q4OA.
Brunsson, N. (1989). The organization of hypocrisy. Talk, decisions and actions in organizations.
Chichester: John Wiley & Sons.
Buckstein, J. (Jan/Feb 2019). To Whom Does The Board Owe A Duty? Director Lens.
Cho, C. H., Guidry, R. P., Hageman, A. M., & Patten, D. M. (2012). Do actions speak louder than
words? An empirical investigation of corporate environmental reputation. Accounting,
Organizations and Society, 37(1), 14-25. doi:10.1016/j.aos.2011.12.001.
Cho, C. H., Laine, M., Roberts, R. W., & Rodrigue, M. (2015). Organized hypocrisy,
organizational façades, and sustainability reporting. Accounting, Organizations and Society, 40,
78–94.
Connelly, B. L., Tihanyi, L., Certo, S. T., & Hitt, M. A. (2010). Marching to the Beat of Different
Drummers: The Influence of Institutional Owners on Competitive Actions. Academy of
Management Journal, 53(4), 723–742.
Core, J. E., Guay, W. R., & Larcker, D. F. (2003). Executive Equity Compensation and Incentives:
A Survey. FRBNY Economic Policy Review. https://doi.org/10.2139/ssrn.276425.
Cormier, D., & Magnan, M. (2015). The economic relevance of environmental disclosure and its
impact on corporate legitimacy: An empirical investigation. Business Strategy and the
Environment, 24(6), 431-450. doi:10.1002/bse.1829.
Correa, R., & Lel, U. (2016). Say on pay laws, executive compensation, pay slice, and firm
valuation around the world. Journal of Financial Economics, 122(3), 500–520.
Craighead, J. A., Magnan, M. L., & Thorne, L. (2004). The impact of mandated disclosure on
performance-based CEO compensation. Contemporary Accounting Research, 21(2), 369–398.
David, P., O’Brien, J. P., & Yoshikawa, T. (2010). Do shareholders or stakeholders appropriate
the rents from corporate diversification? The influence of ownership structure. Academy of
Management. Retrieved from https://journals.aom.org/doi/abs/10.5465/AMJ.2010.51469005
Davis, S., & Albright, T. (2004). An investigation of the effect of Balanced Scorecard
implementation on financial performance. Management Accounting Research, 15(2), 135–153.
Dordi, T., & Weber, O. (2019). The Impact of Divestment Announcements on the Share Price of
Fossil Fuel Stocks. Sustainability. 11(3122).
Edmans, A., & Gabaix, X. (2016). Executive Compensation: A Modern Primer. Journal of
Economic Literature, 54(4), 1232–1287.
Edmans, A., Gabaix, X., & Jenter, D. (2017). Executive Compensation: A Survey of Theory and
Evidence. Retrieved from http://dx.doi.org/10.3386/w23596.
Elkington, John. (1997). "Cannibals with forks." The triple bottom line of 21st century.
Ferri, F., & Oesch, D. (2016). Management Influence on Investors: Evidence from Shareholder
Votes on the Frequency of Say on Pay. Contemporary Accounting Research, 33(4), 1337–1374.
Fink, L. (2020, January). Larry Fink’s Letter to CEOs | BlackRock. BlackRock.
https://www.blackrock.com/corporate/investor-relations/larry-fink-ceo-letter.
Flammer, C., Hong, B., & Minor, D. (2019). Corporate governance and the rise of integrating
corporate social responsibility criteria in executive compensation: Effectiveness and implications
for firm outcomes. Strategic Management Journal, 40(7), 1097–1122.
Gopalan, Horn & Milbourn. “Shell is tying executive pay to carbon emissions. Here’s why It
could create real impact”. CNN Business. December 14, 2018.
https://www.cnn.com/2018/12/14/perspectives/shell-executive-pay-carbon-emissions/index.html.
Grabner, I., Renders, A., & Yang, L. (2016). The complementarity between CSR disclosures and
the use of CSR-based performance measures in CEO annual incentive contracts. Retrieved from
Google Scholar: http://ssrn.com/abstract=2821379.
Guay, W. R., Kepler, J. D., & Tsui, D. (2017). Do CEO bonus plans serve a purpose? Available at
SSRN 2849934.
Hong, B., Li, Z., & Minor, D. (2015). Corporate governance and executive compensation for
corporate social responsibility. Journal of Business Ethics, 1-15.
IRRC & Sustainable Investments Institute. (2013). “Integrated Financial and Sustainability
Reporting in the United States”.
Ittner, C. D., Larcker, D. F., & Rajan, M. V. (1997). The choice of performance measures in annual
bonus contracts. Accounting Review, 231-255.
Kaplan, R. S., & Norton, D. P. (1992). The Balanced Scorecard - Measures That Drive
Performance. Harvard Business Review.
Keddie, L. (2019). Succumbing to the pressure? An investigation of the influence of stakeholder
power on CSR performance-based incentives use. Working Paper.
Kolk, A., & Perego, P. (2014). Sustainable bonuses: Sign of corporate responsibility or window
dressing? Journal of Business Ethics, 119(1), 1-15. doi:10.1007/s10551-012-1614-x.
Larcker, D. F., Ormazabel, G., Taylor, D. J. (2011). The market reaction to corporate governance
regulation. Journal of Financial Economics, 101, 431-448.
Maas, K. (2018). Do corporate social performance targets in executive compensation contribute to
corporate social performance? Journal of Business Ethics, 148(3), 573-585.
Maas, K., & Rosendaal, S. (2016). Sustainability targets in executive remuneration: Targets, time
frame, country and sector specification. Business Strategy and the Environment, 25(6), 390-401.
doi:10.1002/bse.1880.
Magnan, M., & Martin, D. (2018). Executive Compensation and Employee Remuneration: The
Flexible Principles of Justice in Pay. Journal of Business Ethics, 1-17.
Maines, L. A., Bartov, E., Fairfield, P. M., Hirst, D. E., Iannaconi, T. E., Mallett, R., Schrand, C.
M., Skinner, D. J., & Vincent, L. (2002). Recommendations on Disclosure of Nonfinancial
Performance Measures. Accounting Horizons, 16(4), 353–362.
Mangen, C., Magnan, M. (2012). “Say on Pay” A Wolf in Sheep’s Clothing? Academy of
Management Perspectives. https://doi.org/10.5465/amp.2010.009.
McKibben, B. (October 13, 2019) “Divestment works – and one huge bank can lead the way”.
The Guardian. https://www.theguardian.com/commentisfree/2019/oct/13/divestment-bankeuropean-
investment-fossil-fuels?CMP=Share_iOSApp_Other
Murphy, K. J. (2012). Executive compensation: Where we are, and how we got there. Handbook
of the Economics of Finance. Elsevier Science North Holland (Forthcoming).
Neubaum, D. O., & Zahra, S. A. (2006). Institutional Ownership and Corporate Social
Performance: The Moderating Effects of Investment Horizon, Activism, and Coordination.
Journal of Management, 32(1), 108–131.
Patten, D. (2019). "Seeking legitimacy", Sustainability Accounting, Management and Policy
Journal, Vol. ahead-of-print No. ahead-of-print. https://doi.org/10.1108/SAMPJ-12-2018-0332.
Rodrigue, M., Magnan, M., & Boulianne, E. (2013). Stakeholders’ influence on environmental
strategy and performance indicators: A managerial perspective. Management Accounting
Research, 24(4), 301-316. doi:10.1016/j.mar.2013.06.004
Stout, L. A. (2012). The Shareholder Value Myth. Berrett Keohler Publications.
van Essen, M., Otten, J., & Carberry, E. J. (2012). Assessing Managerial Power Theory: A Meta-
Analytic Approach to Understanding the Determinants of CEO Compensation. Journal of
Management, 41(1), 164–202.
Abdelmotaal, H., & Abdel-Kader, M. (2016). The use of sustainability incentives in executive
remuneration contracts: Firm characteristics and impact on the shareholders’ returns. Journal of
Applied Accounting Research, 17(3), 311-330.
Adams, R. B., Akyol, A. C., & Verwijmeren, P. (2018). Director skill sets. Journal of Financial
Economics, 130(3), 641–662.
Argote, L., & Fahrenkopf, E. (2016). Knowledge transfer in organizations: The roles of
members, tasks, tools, and networks. Organizational Behavior and Human Decision Processes,
136, 146–159.
Armstrong, C. S., Guay, W. R., & Weber, J. P. (2010). The role of information and financial
reporting in corporate governance and debt contracting. Journal of Accounting and Economics,
50(2), 179–234.
Bettis, J. C., J., Bizjak, J. M., Coles, J. L., & Kalpathy, S. L. (2015). Performance-Vesting
Provisions in Executive Compensation. SSRN Electronic Journal.
https://doi.org/10.2139/ssrn.2289566.
Brandes, P., Dharwadkar, R., & Suh, S. (2016). I know something you don’t know!: The role of
linking pin directors in monitoring and incentive alignment: Linking Pin Directors, Monitoring,
and Incentive Alignment. Strategic Management Journal, 37(5), 964–981.
Brunsson, N. (1989). The Organization of Hypocrisy : Talk, decisions and actions in
organizations. http://www.diva-portal.org/smash/record.jsf?pid=diva2:358205.
Carcello, J. V., Hermanson, D. R., & Ye, Z. (2011). Corporate governance research in
accounting and auditing: Insights, practice implications, and future research directions. Auditing:
A Journal of Practice & Theory, 30(3), 1–31.
Centre on Executive Compensation. (2017). Larry Fink's 2017 Letter to CEOs Focuses on Long-
Term Growth, Buybacks, ESG. https://execcomp.org/News/NewsStories/larry-finks-2017-letterto-
ceos-focuses-on-long-term-growth-buybacks-esg.
Ceres. (2018). Turning Point. https://www.ceres.org/node/2275.
Cho, C. H., Laine, M., Roberts, R. W., & Rodrigue, M. (2015). Organized hypocrisy,
organizational façades, and sustainability reporting. Accounting, Organizations and Society, 40,
78-94. doi:10.1016/j.aos.2014.12.003.
Clarkson, P. M., Li, Y., Richardson, G. D., & Vasvari, F. P. (2008). Revisiting the relation
between environmental performance and environmental disclosure: An empirical analysis.
Accounting, Organizations and Society, 33(4), 303–327.
Cormier, D., & Magnan, M. (2014). The impact of social responsibility disclosure and
governance on financial analysts’ information environment. Corporate Governance.
https://www.emerald.com/insight/content/doi/10.1108/CG-01-2013-0012/full/html
Cowden, B., Alhorr, H. S., & Bendickson, J. (2015). Experience-Based Green Board Capital:
Linking Board of Directors and Firm Environmental Performance. Journal of Leadership,
Accountability & Ethics, 12(3).
https://pdfs.semanticscholar.org/73e2/42d95caccc69a69e3b43764dc8bf854721e4.pdf
Cronqvist, H., & Fahlenbrach, R. (2013). CEO contract design: How do strong principals do it?
Journal of Financial Economics, 108(3), 659–674.
De Angelis, D., & Grinstein, Y. (2015). Performance Terms in CEO Compensation Contracts.
Review of Finance, 19(2), 619–651.
Dunbar, C. G., Li, Z. F., & Shi, Y. (2016). Corporate social responsibility and CEO risk-taking
incentives. Working Paper.
Edmans, A., Gabaix, X., & Jenter, D. (2017). Executive Compensation: A Survey of Theory and
Evidence. http://dx.doi.org/10.3386/w23596.
EY Center for Board Matters. (2019). Board Matters Quarterly.
https://www.ey.com/publication/vwluassetsdld/bmq_07148-191us_april2019/$file/bmq_07148-
191us_april2019.pdf?OpenElement.
Faleye, O., Hoitash, R., & Hoitash, U. (2018). Industry expertise on corporate boards. Review of
Quantitative Finance and Accounting, 50(2), 441–479.
Fedaseyeu, V., Linck, J. S., & Wagner, H. F. (2018). Do qualifications matter? New evidence on
board functions and director compensation. Journal of Corporate Finance, 48, 816–839.
Financial Post. Global warming could render the assets of many financial companies worthless,
Mark Carney warns. (2019, December 30). https://business.financialpost.com/news/fpstreet/
boes-carney-says-finance-must-act-faster-on-climate-change
Fink, L. Larry Fink’s Annual Letter to CEOs: A Sense of Purpose.
https://www.blackrock.com/corporate/investor-relations/larry-fink-ceo-letter. Retrieved March
16, 2018.
Fink, L. Larry Fink’s Letter to CEOs: Profit and Purpose. (2019). BlackRock.
https://www.blackrock.com/americas-offshore/2019-larry-fink-ceo-letter.
Fink, L. (2020, January). Larry Fink’s Letter to CEOs | BlackRock. BlackRock.
https://www.blackrock.com/corporate/investor-relations/larry-fink-ceo-letter. Retrieved March 6,
2020.
Flammer, C., Hong, B., & Minor, D. (2019). Corporate governance and the rise of integrating
corporate social responsibility criteria in executive compensation: Effectiveness and implications
for firm outcomes. Strategic Management Journal, 40(7), 1097–1122.
Guay, W. R., Kepler, J. D., & Tsui, D. (2019). The role of executive cash bonuses in providing
individual and team incentives. Journal of Financial Economics, 133(2), 441–471.
Haque, F. (2017). The effects of board characteristics and sustainable compensation policy on
carbon performance of UK firms. The British Accounting Review, 49(3), 347–364.
Hong, B., Li, Z., & Minor, D. (2016). Corporate Governance and Executive Compensation for
Corporate Social Responsibility. Journal of Business Ethics: JBE, 136(1), 199–213.
IRRC & Sustainable Investments Institute. (2013). “Integrated Financial and Sustainability
Reporting in the United States”.
Kaplan, R., & Norton, D. (1992). The balanced scorecard - measures that drive performance.
Harvard Business Review, (Jan/Feb), 71-79.
Keddie, L. (2019). Succumbing to the Pressure? An Investigation of the Influence of Stakeholder
Power on CSR performance-based incentives use. Working Paper.
Kolev, K. D., Wangrow, D. B., Barker, V. L., III, & Schepker, D. J. (2019). Board Committees
in Corporate Governance: A Cross‐Disciplinary Review and Agenda for the Future. Journal of
Management Studies, 23, 69.
Kolk, A., & Perego, P. (2014). Sustainable bonuses: Sign of corporate responsibility or window
dressing? Journal of Business Ethics, 119(1), 1-15. doi:10.1007/s10551-012-1614-x.
Lawson, R. A., Blocher, E. J., Brewer, P. C., Cokins, G., Sorensen, J. E., Stout, D. E., Sundem,
G. L., Wolcott, S. K., & Wouters, M. J. F. (2013). Focusing Accounting Curricula on Students’
Long-Run Careers: Recommendations for an Integrated Competency-Based Framework for
Accounting Education. Issues in Accounting Education, 29(2), 295–317.
Li, Z., & Wang, L. (2016). Executive Compensation Incentives Contingent on Long-Term
Accounting Performance. The Review of Financial Studies, 29(6), 1586–1633.
Maas, K., & Rosendaal, S. (2016). Sustainability targets in executive remuneration: Targets, time
frame, country and sector specification. Business Strategy and the Environment, 25(6), 390-401.
doi:10.1002/bse.1880.
Maas, K. (2018). Do Corporate Social Performance Targets in Executive Compensation
Contribute to Corporate Social Performance? Journal of Business Ethics: JBE, 148(3), 573–585.
Minor, D. (2016). Executive compensation and environmental harm. Working Paper 16-076.
Harvard Business School.
O'Connell, V., & O'Sullivan, D. (2014). The influence of lead indicator strength on the use of
nonfinancial measures in performance management: Evidence from CEO compensation
schemes. Strategic Management Journal, 35(6), 826-844.
Park, S. Y., & Chon, M. L. (2015). Do stock options influence CSR activity? Indian Journal of
Science and Technology, 8(18).
Patten, D. M. (2019). Seeking legitimacy. Sustainability Accounting, Management and Policy
Journal, ahead-of-print(ahead-of-print). https://doi.org/10.1108/SAMPJ-12-2018-0332.
Peters, G. F., & Romi, A. M. (2014). Does the Voluntary Adoption of Corporate Governance
Mechanisms Improve Environmental Risk Disclosures? Evidence from Greenhouse Gas
Emission Accounting. Journal of Business Ethics: JBE, 125(4), 637–666.
Rodrigue, M., Magnan, M., & Boulianne, E. (2013). Stakeholders’ influence on environmental
strategy and performance indicators: A managerial perspective. Management Accounting
Research, 24(4), 301-316. doi:10.1016/j.mar.2013.06.004.
Rodrigue, M., Magnan, M., & Cho, C. H. (2013). Is environmental governance substantive or
symbolic? An empirical investigation. Journal of Business Ethics, 114(1), 107-129.
doi:10.1007/s10551-012-1331-5.
Sassen, Stoffel, Behrmann, Ceschinski & Doan. (2018). Effects of committee overlap on the
monitoring effectiveness of boards of directors: a meta-analysis. Journal of Risk Finance, 19(4),
379–395.
The Canadian Coalition for Good Governance. (2018). THE DIRECTORS’ E&S GUIDEBOOK.
Walls, J. L., & Hoffman, A. J. (2013). Exceptional boards: Environmental experience and
positive deviance from institutional norms. Journal of Organizational Behavior, 34(2), 253–271.
Baker, D., Bivens, J., Scheider, J. (2019). Reining in CEO compensation and curbing the rise of
inequality. Retrieved from Economic Policy Institute website:
https://www.epi.org/files/pdf/168855.pdf.
BBC News. (2020, February 28). Greta Thunberg: What does the teenage climate change activist
want? BBC. https://www.bbc.com/news/world-europe-49918719.
Centre on Executive Compensation. (2017). Larry Fink's 2017 Letter to CEOs Focuses on Long-
Term Growth, Buybacks, ESG. https://execcomp.org/News/NewsStories/larry-finks-2017-letterto-
ceos-focuses-on-long-term-growth-buybacks-esg.
Elkington, John. (1997). "Cannibals with forks." The triple bottom line of 21st century.
Fink, L. Larry Fink’s Annual Letter to CEOs: A Sense of Purpose.
https://www.blackrock.com/corporate/investor-relations/larry-fink-ceo-letter. Retrieved March
16, 2018.
Fink, L. Larry Fink’s Letter to CEOs: Profit and Purpose. (2019). BlackRock.
https://www.blackrock.com/americas-offshore/2019-larry-fink-ceo-letter.
Fink, L. (2020, January). Larry Fink’s Letter to CEOs | BlackRock. BlackRock.
https://www.blackrock.com/corporate/investor-relations/larry-fink-ceo-letter. Retrieved March 6,
2020.
Stout, L. A. (2012). The Shareholder Value Myth. Berrett Keohler Publications.
Report of the Committee on The Financial Aspects of Corporate Governance. (1992). The Cadbury
Report.