SRN preferences Stakeholder Preferences Emissions
Maximilian A. Müller discusses how the SRN platform enhances transparency in sustainability reporting by showcasing firms' practices and upcoming requirements. Additionally, it aggregates stakeholder preferences to provide a holistic view of sustainability expectations.
undefinedDas International Sustainability Standards Board und globale Standards für Nachhaltigkeitsberichterstattung
Thorsten Sellhorn and Victor Wagner analyze the rapid development of sustainability reporting regulations and the role of the International Sustainability Standards Board (ISSB). They discuss the ISSB's efforts to establish globally accepted minimum standards for sustainability disclosures and assess the first draft standards.
2024-10-16Ebner Stolz Interview
Maximilian A. Müller analyzes the impact of sustainability reporting on mid-sized companies, questioning the cost-benefit balance of CSRD regulations. His research aims to gather empirical data on reporting costs to provide policymakers with informed recommendations for potential adjustments.
2023-09-21LinkedIn Post Distribution of affected CSRD firms and their environmental impact
Maximilian A. Müller discusses the debate over sustainability reporting thresholds under the CSRD, arguing that regulators should focus on the largest firms to maximize impact. Applying the 80/20 rule, he suggests targeting the top 20% of firms by revenue (those above ~400m), which account for ~80% of sustainability impacts, rather than imposing reporting burdens on smaller firms with minimal contributions.
undefinedEU Taxonomie
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undefinedSustainability vs Financial Assurance
Prof. Dr. Maximilian A. Müller and Mareike Peters-Olbrich analyze who audits sustainability reports in the German capital market. Comparing financial and sustainability auditors for DAX, MDAX, and SDAX companies in 2022, the study reveals differences in gender, age, qualifications, and roles, providing insights into future auditing responsibilities under the CSRD.
2024-12-11Transparency in an Age of Digitalization and Responsibility (Editorial SBUR Special Issue)
Georg Reischauer, Thomas Hess, Thorsten Sellhorn & Erik Theissen explore transparency in business research, distinguishing between the verifiability and performativity approaches. They highlight how digitalization and algorithmic management are reshaping transparency, emphasizing its evolving role in corporate reporting, governance, and AI-driven decision-making.
2022-12-02Vortrag Nachhaltigkeitstransparenz, Greenwashing und Nachhaltigkeitsrating: Aktuelle Herausforderungen für Ersteller und Nutzer von Nachhaltigkeitsberichten
Thorsten Sellhorn discusses sustainability transparency, greenwashing, and sustainability ratings, highlighting key challenges and opportunities for both report creators and users. The talk explores how sustainability transparency emerges and its implications for corporate reporting.
2024-05-21The forces that shape mandatory ESG reporting
Thorsten Sellhorn and Victor Wagner examine the economic and social forces shaping mandatory ESG reporting, highlighting its role in corporate transparency and accountability beyond profit maximization. They discuss regulatory developments, key players, and the challenges of integrating ESG factors into corporate reporting.
2024-11-07ESRS Reporting Interview
In an interview with Dr. Maximilian Müller, Professor at the University of Cologne and Advisor at Sunhat, he highlights the importance of standardized ESG reporting under ESRS. He discusses the challenges companies face in managing sustainability data, the role of AI in streamlining reporting, and how ESRS can create a level playing field within the EU.
undefinedVerbraucherreaktionen auf CO 2-Informationen: Ein Feldexperiment zu CO2 -Kennzeichnungen im Gastronomiebereich
Ulrike Baumöl, Martin R. W. Hiebl, Andreas Hoffjan, Thorsten Knauer, Klaus Möller, and Burkhard Pedell examine how CO₂ labels in the dining sector influence consumer behavior. Their field experiment highlights that transparent CO₂ information increasingly shapes purchasing decisions and that even small changes in presentation can positively impact sustainable consumption.
2024-09-17Global baseline: the path to IFRS Sustainability Disclosure Standards
Victor Wagner, Thorsten Sellhorn, Katharina Weiß, and Christoph Pelger examine the development of IFRS Sustainability Disclosure Standards as a global baseline for corporate sustainability reporting. They highlight the growing role of accounting in addressing climate challenges through standardized, decision-useful sustainability disclosures.
2019-05-01Shaping corporate actions through targeted transparency regulation: A framework and review of extant evidence
Katharina Hombach and Thorsten Sellhorn examine targeted transparency regulation by securities regulators, focusing on how disclosure mandates influence corporate behavior. They review empirical evidence on its effectiveness and discuss future research opportunities.
2025-03-10How does the CSRD change reporting?
Victor Wagner, Maximilian Müller, and Lea Hagemeier analyzed the first 100 published CSRD reports. Companies report 50% more pages and change their presentation
undefinedRegulation of Corporate Disclosure (Editorial SBR Special Issue)
Willem F. J. Buijink, Thorsten Sellhorn & Alfred Wagenhofer discuss the regulation of corporate disclosure, emphasizing both financial and non-financial reporting. They highlight the role of mandatory disclosure in enhancing transparency, the rise of non-GAAP measures, and recent ESG reporting mandates. The Special Issue explores the intended and unintended "real effects" of disclosure regulation, including its influence on corporate behavior.
2023-07-28ESG-Berichterstattung: Konzept, ökonomischer Hintergrund und Entwicklung, in: Praxishandbuch ESG: Grundlagen, Bedeutung und Umsetzung in Unternehmen
Kai Andrejewski, Nils Krause, and Moritz von Hesberg provide a comprehensive overview of ESG reporting from both business and legal perspectives, focusing on its impact on corporate practice. The handbook outlines ESG’s historical development, regulatory framework, and practical implications for various corporate functions and stakeholders.
2018-07-18Firm Value Effects of Targeted Disclosure Regulation: The Role of Reputational Costs
Ionela Andreicovici, Katharina Hombach, and Thorsten Sellhorn examine the reputational costs of targeted disclosure regulation, focusing on the SEC’s extraction payments rule for oil and gas firms. Their findings suggest that firms with higher reputational risk face greater value losses due to increased public pressure, amplified by media coverage.
undefinedNachhaltigkeitsberichte nach ESRS: Nur Mut!
Ann-Kristin Großkopf, Thorsten Sellhorn, Victor Wagner, and Katharina Weiß critically analyze the IFRS Foundation's initiative to establish global sustainability reporting standards. They examine the implications, challenges, and potential impact of these standards on corporate sustainability reporting.
undefinedHow does carbon footprint information affect consumer choice? A field experiment
Bianca Beyer, Rico Chaskel, Simone Euler, Joachim Gassen, Ann-Kristin Großkopf, and Thorsten Sellhorn investigate how carbon footprint information affects consumer choices in a field experiment. They find that presenting carbon data in monetary terms and using traffic-light color coding significantly reduces consumers' food-related carbon footprint by up to 9.2%, even among those who do not explicitly prioritize environmental concerns.
2023-11-10CD/MM KoR ESG Rating Overlap vs ESRS
Charlotte-Louisa Donau and Maximilian A. Müller analyze the relevance of the new EU sustainability reporting standards (ESRS) for ESG ratings. They find that while only about 10% of quantitative ESRS disclosures are rating-relevant, these constitute a significant share of commonly used ESG data.
2024-03-18Climate Disclosure in Financial Statements
Maximilian A. Müller, Gaizka Ormazabal, Thorsten Sellhorn, and Victor Wagner analyze how climate exposure is reflected in financial statements. Their study finds that EU firms increasingly disclose climate-related impacts on key accounting items, influenced by supply and demand factors, while financial statement disclosures provide more reliable insights into firms' climate exposure than voluntary ESG reports.
undefinedGap-Assessment zur Klimaberichterstattung am deutschen Kapitalmarkt
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undefinedMM/CD Mercator CO2-adjusted EBIT
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undefinedGlobale Standards für Nachhaltigkeitsberichterstattung-Eine kritische Analyse des Vorstoßes der IFRS-Stiftung
Ann-Kristin Großkopf, Thorsten Sellhorn, Victor Wagner, and Katharina Weiß critically analyze the IFRS Foundation's initiative to establish global sustainability reporting standards. They examine the implications, challenges, and potential impact of these standards on corporate sustainability reporting.
undefinedComment Letter in response to the Consultation Paper on Sustainability Reporting
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2024-11-08Early Adopter Insights Wesentlichkeitsanalyse
Maximilian A. Müller and Nina Valkyser analyze 48 materiality assessments under CSRD and ESRS, published by STOXX Europe 600 companies in 2023. The study examines identified reporting standards and methodologies compared to benchmarks, providing practical insights for sustainability reporting.
undefinedStandards für die Nachhaltigkeitsberichterstattung im Vergleich : Erkenntnisse aus dem Sustainability Reporting Navigator zur Vergleichbarkeit von ESRS, IFRS Sustainability Disclosure Standards und GRI-Standards
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undefinedErstanwendung der EU-Taxonomie–Eine empirische Analyse deutscher Unternehmen
Ann-Kristin Großkopf, Thorsten Sellhorn, and Victor Wagner analyze the initial application of the EU Taxonomy by German companies. Their study empirically examines the impact of the new sustainability classification on corporate reporting and compliance.
2024-10-14Targeting transparency: early evidence on mandatory adoption of European sustainability reporting standards
Charlotte-Louisa Donau, Katharina Hombach, Inga Elise Meringdal, Maximilian A. Müller, Thorsten Sellhorn, and Victor Wagner analyze the impact of mandatory European Sustainability Reporting Standards (ESRS) on corporate transparency. Their study examines transparency changes in ~1,000 EU firms compared to global and US peers, using granular data and a pre-committed research design to advance sustainability reporting research.
2025-01-30Disclosure Regulation and ESG Transparency
Charlotte-Louisa Donau and Maximilian A. Müller analyze the impact of disclosure regulation on ESG transparency using 55 regulatory events over 20 years. Their study finds that regulation significantly enhances quantitative environmental disclosures, especially for firms with weak ESG performance, while potentially crowding out voluntary disclosures.
undefinedUnderstanding and improving the language of business: How accounting and corporate reporting research can better serve business and society
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undefinedTransparenz für Nachhaltigkeit
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