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Darrell Brown, Ph.D.Darrell Brown has a B.S. in Forestry from University of Montana, an MBA from University of Montana, and an Accounting Ph.D. from University of Utah. Dr. Brown teaches accounting information systems and managerial accounting. His current research interests include the factors that affect decision makers' reliance on decision aids and the relationship between measurement issues and organizations’ movement towards sustainable development. He serves on the editorial boards of the Journal of Information Systems and the International Journal of Information Systems. |
Scott Marshall, Ph.D.R. Scott Marshall has a B.A. in business economics, Willamette University; an M.A. in international business, George Washington University; and, a Ph.D. in international strategy, University of Oregon. Dr. Marshall teaches business strategy, international management, and global strategy. His research is in the areas of international strategy, environmental strategy and trust in interorganizational relationships. |
Grant Information
Drs. Brown and Marshall, together with a colleague from the University of Utah, received a grant from KPMG in 2003 to study the relationship between corporate voluntary environmental disclosures and the cost of equity capital. The study is based on environmental disclosure information collected from corporate sustainability reports, annual reports and 10-K filings by firms across five industries over a 3-year time period. The study arose from ongoing conversations about environmental and corporate responsibility issues between Drs. Marshall and Brown who share common interests in the area. KPMG’s interests derive from an attempt to find and evaluate alternative measures of corporate performance that may be useful to their clients. Marshall’s and Brown’s hypothesis is that companies that disclose environmental policies beyond that which is required by law may be perceived as less risky by analysts and, thus, have a lower cost of equity capital than firms which do not. This lower cost of equity capital translates to reduced financing costs for a firm. In terms of their broad research interests, Dr. Marshall is focusing on the strategic aspects of corporate sustainability in areas such as methods for implementing environmental management initiatives, and reasons for and performance implications of adopting environmental related certifications while Dr. Brown is studying the accounting and financial impacts of corporate environmental reporting policies. The first draft of this study is projected to be completed by mid to late August.
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