Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/94258 
Erscheinungsjahr: 
1998
Schriftenreihe/Nr.: 
Working Paper No. 1998-18
Verlag: 
Rutgers University, Department of Economics, New Brunswick, NJ
Zusammenfassung: 
This paper attempts to look at the effectiveness of public provision of pollution information in providing incentives for firms to control pollution. This is achieved by examining the effect of release of pollution information on the market value of firms. The paper conducts a value event study using the U.S Environmental Protection Agency's Toxic Release Inventory Program as the basis for its analysis. We conclude that there are significant negative abnormal returns on the day of the release of the pollution information for all the seven releases put together. But, there are no significant negative abnormal returns for each of the seven releases when we incorporate the contemporaneous correlation of the returns and inter-temporal correlation of the estimated abnormal returns. In addition, this negative effect peters away as the length of the event period is extended to include the four days after the release of the information as well.
Schlagwörter: 
Environment Pollution
Event Study
Panel Data
Seemingly Unrelated Regressions (SUR)
Toxic Release Inventory (TRI)
JEL: 
C33
Q28
Dokumentart: 
Working Paper

Datei(en):
Datei
Größe
113.25 kB





Publikationen in EconStor sind urheberrechtlich geschützt.