Private firms reluctant to invest in pollution abatement when the penalty for noncompliance falls short of the cost of abatement may be more willing to invest in pollution abatement when enforcement is tougher or when information is released that allows capital markets to react to ranking of...

Both inspections and the threat of inspections reduce pollution emissions. Moreover, inspections induce plants to report their emissions levels more frequently to regulators.Since the early 1970s, industrial countries have enacted (or amended) many environmental laws and regulations to control...

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...

Since 1989, environmental authorities of the Republic of Korea have published on a monthly basis a list of enterprises violating the country's environmental rules and regulations. This may be the longest environmental public disclosure program currently in existence. Over the period 1993-2001 in...

In 1989, Indonesia's Minister for Population and the Environment introduced its Clean River Program (PROKASIH). The program's purpose is to improve water quality by reducing pollution emmissions. Though participation is not entirely voluntary, compliance with the terms of the agreement signed by...

In dealing with local environmental authorities, Chinese firms facing adverse financial situations have more bargaining power than other firms, while those generating more complaints from the public about their emissions have less. Only a small number of studies have empirically examined the...