Gans, Will; Hintermann, Beat - In: Environmental & Resource Economics 55 (2013) 2, pp. 291-308
Are private voluntary environmental actions by firms a sign of mismanagement, or a profitable “win-win” replacement for regulation? Empirical evidence is decidedly mixed. In this study, we use 19 years of monthly stock price returns, from 1991 to 2009, to examine the profitability of...