Kosobud, Richard F.; Stokes, Houston H.; Tallarico, Carol D. - In: Review of Accounting and Finance 4 (2005) 1, pp. 50-71
This study develops the economic rationale for the inclusion of new environmental financial assets, tradable pollution rights, in a well‐diversified portfolio. These new assets are generated and their valuation determined in the market‐incentive environmental regulatory approach called...