The impact of climate risk perception on corporate carbon emissions: textual analysis of Chinese listed firms

This study examines the association between corporate climate risk perception, as reflected in the textual content of annual reports, and carbon emissions among Chinese A-share listed firms from 2010 to 2023. Employing textual analysis to construct a firm-level climate risk perception index from Management Discussion and Analysis (MD&A) sections of 31,238 firm-year observations, and using panel regression models with firm, industry, and year fixed effects as well as instrumental variable and