Voluntary environmental programs (VEPs) promise to provide firms and facilities additional flexibility in managing their environmental affairs while increasing internal efficiencies and improving their public image. Although stakeholder input is thought to improve program development, little is...

Voluntary environmental programs (VEPs) have become a popular alternative to traditional regulation. However, little is known about whether these programs are sending accurate signals about the environmental practices of their participants. As a means for understanding signaling accuracy, this...