Risk premiums for environmental liability: does Superfund increase the cost of capital?
Article Abstract:
Strong proof was found that greater Superfund exposure boosts costs of capital. Estimates employing various exposure measures and regression specifications suggest that being placed at 10 more sites on the National Priorities List would boost the real cost of equity capital for a big chemical firm by between 0.010 and 0.028% per month. Estimates indicate the social costs of carrying financial risk linked with Superfund justify consideration in a general economic assessment of the program.
Publication Name: Journal of Environmental Economics and Management
Subject: Environmental services industry
ISSN: 0095-0696
Year: 1998
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The determinants of an environmentally responsive firm: an empirical approach
Article Abstract:
Empirical data on firms that have an official policy for dealing with environmental questions assesses the impact of incentives from several possible pressure groups on these firms. Results indicate that a firm's environmental policy is positively affected by pressure from customers, shareholders, government regulations, neighborhood groups and community groups. However, it is negatively affected by other lobby pressure groups and its sales-to-asset ratio.
Publication Name: Journal of Environmental Economics and Management
Subject: Environmental services industry
ISSN: 0095-0696
Year: 1996
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Inducing incentives to understate and to overstate willingness to pay withing the open-ended and the dichotomous-choice elicitation formats: an experimental study
Article Abstract:
An examination of the responses to public goods using the open-ended and dichotomous-choice elicitation format showed the dichotomous-choice format to be better at eliciting an overstatement on the willingness-to-pay behavior. The study showed that the willingness to pay factor in a group of individuals would display an identical distribution of deviations from their true preference even if motivated by different incentives.
Publication Name: Journal of Environmental Economics and Management
Subject: Environmental services industry
ISSN: 0095-0696
Year: 1998
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