Changing superfund disclosure and its relation to the provision of other environmental information

Abstract
This study examines whether increased pressure on U.S. firms relative to Superfund exposures in the late 1980s and early 1990s impacted on the provision of environmental information in 10K reports. Based on a sample of 95 companies, the study finds that both Superfund-related and non-Superfund-related environmental information disclosures are more extensive in the 1994 10K reports than they had been in 1986 10Ks. Regression analysis, controlling for other potential impact variables, supports the argument that cross-sectional differences in the change in non-Superfund information provision is related to changes in Superfund disclosure. The study provides additional evidence, therefore, that social disclosure appears to be a function of the exposure companies face to the social/political environment.

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