Tran TTHoang KNgo TNguyen TXTran HTT2025-10-072025-10-072025-12Tran TT, Hoang K, Ngo T, Nguyen TX, Tran HTT. (2025). How does biodiversity risk exposure affect corporate regulatory intensity?. Finance Research Letters. 86. Part B.1544-6123https://mro.massey.ac.nz/handle/10179/73664This paper investigates the impact of biodiversity risk on corporate regulatory intensity of firms in the United States during 2007-2020. Using text-based measures of biodiversity risk and regulatory intensity extracted from corporate disclosures and public media, we provide empirical evidence of a positive impact of biodiversity risk exposure on corporate regulatory intensity. The finding suggests that more corporate exposure to biodiversity risk increases the regulatory intensity and cost of regulatory compliance. Further empirical analysis suggests that the impact of biodiversity risk exposure on regulatory intensity is less pronounced in firms with headquarters located in states with poorer institutions, and in vertically integrated firms.(c) The author/shttps://creativecommons.org/licenses/by/4.0/Biodiversity riskInstitutional qualityRegulatory intensityJournal article10.1016/j.frl.2025.1084931544-6131CC BYjournal-articlehttps://orcid.org/0000-0002-6090-8067108493S1544612325017477