The article adds empirical content to transaction costs concepts by analyzing the design and implementation of the first publicly listed company in Australia, Earth Sanctuaries Limited, devoted to protecting biodiversity. The venture was successful on some ecological criteria, but ultimately...

This papers examines the activities and operations of the first publicly listed company in Australia with wildlife conservation as its primary goal. Earth Sanctuaries Ltd (ESL) is the first publicly listed company in Australia with wildlife conservation as its primary goal. Its focus to date is...