The empirical literature on environmental performance or compliance has followed two strands: one based on the impact of formal regulation as a means of inducing better environmental performance, and another centered on the role of informal regulation which mainly emphasizes the role of...

It is said that firms in developing countries do not have incentives to invest in pollution control because of the weak monitoring and enforcement of the environmental regulations. This argument assumes that the regulator is the only agent that can create incentives for pollution control, and...

Inspections have a statistically significant impact on firms' environmental performance in the Chinese city of Zhenjiang, and citizens' complaints have a significant impact on inspections. So stronger information and education campaigns may improve social welfare in the city. Little empirical...

For almost 20 years, the Ministry of Environment of the Republic of Korea has published on a monthly basis a list of enterprises that fail to comply with national environmental laws and regulations. In this paper, the authors examine the reaction of investors to the publication of these lists...

Capital markets do respond to information about a firm's environmental performance and if properly informed, may provide appropriate financial and reputational incentives for pollution control. Perhaps more resources should be used for disseminating firm-specific information about environmental...