Voluntary approaches, such as corporate codes of conduct, have been widely advocated as alternatives to traditional approaches to environmental regulation. Yet concern remains that companies cannot be trusted to police themselves and that many of the putative advantages of self regulation, such...

The paper reports the empirical results of the validation of the Stochastic Production Frontier (SPF) Model to an unbalanced panel comprising a cross-section of 8 manufacturing industries over a time span of 26 years The results provide insights on the repercussions of the micro-economic reform...