Firm ownership is a major determinant for the economic performance of firms, and emissions of pollutants are often by-products of industrial production. We investigate the impact of ownership on pollutant emissions of firms and their in- dustrial facilities in Europe jointly with their output,...

Private equity (PE) ownership leads to a 70% and 50% reduction in the baseline rates of two distinct measures of toxic pollution. Novel satellite imaging and administrative datasets from the oil and gas industry allow us to identify the reduction by comparing projects from PE-backed firms to...

The number of U.S. publicly traded firms has halved in 20 years. How will this shift in ownership structure affect the economy's externalities? Using comprehensive data on greenhouse gas emissions from 2007-2016, we find that independent private firms are less likely to pollute and incur EPA...

This study examines whether stocks of polluter firms behave like sin stocks. I test whether the aggregate institutional holdings of polluters are constrained by social norms of environmental responsibility. Using U.S. data from the Toxic Release Inventory, I identify the firms that release the...