Past studies of the impact of publicly announced violations of environmental laws on the market value of the offending firms have yielded equivocal results. A particularly troubling aspect of this research is whether the market imposes a reputation penalty for such violations. This article uses...

The economy remains the number-one topic of conversation throughout the country. Where do we stand, and when is a full recovery in sight? Since the recession started, the staff of the Tennessee Advisory Commission on Intergovernmental Relations (TACIR)* has worked to keep abreast of the...

this study examines the dramatic change in production technology of the U.S. ocean liner shipping industry over the period 1971 through 1982 using panel data on 15 subsidized U.S.-flag liner firms. To estimate the changes in the production function due to the new technology, the switching regime...