This paper investigates the companies' behavioural response to information-based environmental policies. We perform a panel analysis for 39 big companies in 16 countries, in 3 polluting industries (oil & gas, chemicals, power generation) over a 5- year period (1993-1997) to check whether...

We compare the market reactions of developed and emerging market firms to reconstitutions of the FTSE Environmental Opportunities (FTSE EO) index. Our primary finding is that developed market firms that were added to or deleted from the FTSE EO experience significant increases in stock prices...