This paper analyzes the impact of blockownership dispersion on firm value. Blockholdings by multiple blockholders is a widespread phenomenon in the U.S. market. It is not clear, however, whether dispersion among blockholder is preferable to having a more concentrated ownership structure. To test...

This paper analyzes the impact of blockownership dispersion on firm value. Blockholdings by multiple blockholders is a widespread phenomenon in the U.S. market. It is not clear, however, whether dispersion among blockholder is preferable to having a more concentrated ownership structure. To test...

Understanding the relationship between international trade and CO2 emissions is crucial for designing appropriate measures to address climate change. This article focuses on CO2 emissions as one of the trade flow determinants of the EU countries, along with other factors including remoteness,...

The rationale of voluntary corporate initiatives is often explained with anticipation of future regulation. We test this hypothesis for the Chicago Climate Exchange (CCX) and the Climate Leaders (CL), two popular voluntary US environmental programs to curb carbon emission that were operating...

Demsetz and Lehn (1985), Morck, Shleifer, and Vishny (1988), and McConnell and Servaes (1990) report different empirical findings regarding ownership structure and corporate profitability. In this paper, we re-estimate the relation between management ownership and firm's value after controlling...

The developing economies of Asia are confronted by serious environmental problems that threaten to undermine future growth, food security, and regional stability. This study considers four major environmental challenges that policymakers across developing Asia will need to address towards 2030:...

Sechs Jahre nach der Verabschiedung des Kyoto-Protokolls im Dezember 1997 sind die meisten Länder der internationalen Staatengemeinschaft noch weit von den damals verabredeten Klimaschutzzielen entfernt. Im Jahre 2001 lagen die Treibhausgas-Emissionen in den OECD-Ländern, die im...

One of the most important reasons by which Kyoto negotiations had suffered a setback at the COP 6 conference may be the unsatisfactory state about the previsions of Global Warming. This lack of knowledge may have such an influence on the formation of human opinion that we cannot to be amazed if...

We estimate the growth rate of the social cost of carbon. This is an indication of the optimal rate of acceleration of greenhouse gas emission reduction policy over time. We find that the social cost of carbon increases by 1.3% to 3.9% per year, with a central estimate of 2.2%. Previous studies...