Lender penalty for environmental damage and the equilibrium cost of capital

Economica

Volumn 63, Issue 250, 1996, Pages 311-323

  Heyes, Anthony G ^a  

^a OXFORD INSTITUTE FOR ENERGY STUDIES   (United Kingdom)

Author keywords

[No Author keywords available]

Indexed keywords

CAPITAL COST; CREDIT RATIONING; ENVIRONMENTAL DEGRADATION; INTEREST RATE IMPACT; LENDER PENALTY;

EID: 0030472267     PISSN: 00130427     EISSN: None     Source Type: Journal    
DOI: 10.2307/2554765     Document Type: Article

References (20)

1. BAUMOL, W. J. and OATES, W. (1988). The Theory of Environmental Policy, 2nd edn. Cambridge University Press.
2. BEARD, T. R. (1990). Bankruptcy and care choice. Rand Journal of Economics, 21, 626-34.
3. COFFEE, J. (1991). No soul to damn, no body to kick: an unscandalised inquiry into the problem of corporate punishment. Michigan Law Review, 38, 661-88.
4. DEPARTMENT OF TRADE AND INDUSTRY (1993). Report of the Financial Sector Working Group, February.
5. HARFORD, J. D. (1987). Self-reporting of pollution and the firm's behaviour under imperfectly enforceable regulations. Journal of Environmental Economics and Management, 14, 293-303.
6. HEYES, A. G. (1994). Reform of environmental liability and the cost of venture captial: conventional wisdom reconsidered. Mimeo, Birkbeck College, University of London.
7. KING, S. M. (1988). Lenders liability for cleanup costs. Environmental Law, 18, 241-91.
8. KRAAKMAN, R. H. (1986). Corporate liability strategies and the costs of legal controls. Yale Law Journal, 93, 857-98.
9. _ (1988). Gatekeepers: the anatomy of a third-party enforcement strategy. Journal of Law, Economics and Organisation, 2, 53-104.
10. RINGLEB, A. H. and WIGGINS, S. N. (1990). Liability and large-scale, long-term hazards. Journal of Political Economy, 98, 574-95.
11. ROTHSCHILD, M. and STIGLITZ, J. (1970). Increasing Risk I: A Definition. Journal of Economic Theory, 2, 315-29.
12. SCHWARTZ, A. (1985). Product liability, corporate structure and bankruptcy: toxic substances and the remote risk relationship. Journal of Legal Studies, 14, 45-58.
13. SEGERSON, K. (1993). Liability transfers: an economics assessment of buyer and lender liability. Journal of Environmental Economics and Management, 25, 46-63.
14. SHAVELL, S. (1986). The judgement proof problem. International Review of Law and Economics, 6, 45-58.
15. STIGLITZ, J. E. and WEISS, A. (1982). Credit rationing in markets with imperfect information. American Economic Review, 71, 393-410.
16. STRAND, J. (1992). Environmental accidents under moral hazard and limited firm liability. Memorandum no. 22, Department of Economics, University of Oslo.
17. SUMMERS, J. (1983). The case of the disappearing defendant: an economic analysis. University of Pennsylvania Law Review, 132, 145-85.
18. SYKES, A. O. (1984). The economics of vicarious liability. Yale Law Journal, 93, 1231.
19. THOMPSON, H. (1992). Contaminated land: the implications for property transactions and the property development industry. National Westminster Bank Quarterly Review, November, 20-33.
20. VERNE, J. (1862). Around the World in Eighty Days. London: Cygnet Books.