Direct and indirect effects of ownership on firm-level environmental performance

Eastern European Economics

Volumn 45, Issue 4, 2007, Pages 66-87

  Earnhart, Dietrich ^a   Lízal, Lubomír ^b,c  

^a UNIVERSITY OF KANSAS   (United States)

^b CERGE EI   (Czech Republic)

^c CHARLES UNIVERSITY   (Czech Republic)

Author keywords

[No Author keywords available]

Indexed keywords

EMPIRICAL ANALYSIS; ENVIRONMENTAL ECONOMICS; FIRM OWNERSHIP; INVESTMENT; TRANSITIONAL ECONOMY;

EID: 35248835061     PISSN: 00128775     EISSN: None     Source Type: Journal    
DOI: 10.2753/EEE0012-8775450403     Document Type: Article

References (39)

1. Arora, S., and T. Cason. 1995. "An Experiment in Voluntary Environmental Regulation: Participation in EPA's 33/50 Program." Journal of Environmental Economics and Management 28, no. 3: 271-286.
2. Arora, S., and T. Cason. 1996. "Why Do Firms Volunteer to Exceed Environmental Regulations? Understanding Participation in EPA's 33/50 Program. " Land Economics 72, no. 4: 413-432.
3. Austin, D.; A. Alberini; and J. Videras. 1999. "Is There a Link Between a Firm's Environmental and Financial Performance?" Paper presented at NBER Summer Institute Public Economics Workshop, Public Policy and the Environment, Cambridge, MA, August 2.
4. Bluffstone, R. 1999. "Are the Costs of Pollution Abatement Lower in Central and Eastern Europe? Evidence from Lithuania." Environment and Development Economics 44, no. 4: 449-470.
5. Claessens, S., and S. Djankov. 1999. "Ownership Concentration and Corporate Performance in the Czech Republic." Journal of Comparative Economics 27, no. 3: 498-513.
6. Cohen, M.; S. Fenn; and S. Konar. 1997. "Environmental and Financial Performance: Are They Related?" Investor Responsibility Research Center monograph, Rockville, MD, August.
7. Czech Ministry of Environment. 1998. Statistical Environmental Yearbook of the Czech Republic. Prague: Czech Ministry of the Environment.
8. Czech Ministry of Environment. 1999. Czech Ministry of the Environment: 1999 State Environmental Policy. Prague: Czech Ministry of the Environment.
9. De Alessi, L. 1980. "The Economics of Property Rights: A Review of the Evidence." In Research in Law and Economics, vol. 2, ed. R. Zerbe, pp. 27-28. Greenwich, CT: JAI Press.
10. Djankov, S. 1999. "Ownership Structure and Enterprise Restructuring in Six Newly Independent States." Comparative Economic Studies 41, no. 1: 75-95.
11. Earnhart, D. 2004. "Liability for Past Environmental Contamination and Privatization." Environmental and Resource Economics 29, no. 1: 97-122.
12. Earnhart, D. 2006. "Factors Shaping Corporate Environmental Performance: Regulatory Pressure and Financial Status." Paper presented at the Association of Environmental and Resource Economists (AERE) meetings, Boston, January 7.
13. Earnhart, D., and L. Lizal. 2006. "Effects of Ownership and Financial Performance on Corporate Environmental Performance." Journal of Comparative Economics 34, no. 1: 111-129.
14. European Bank for Reconstruction and Development (EBRD). 1999. European Bank for Reconstruction and Development: Transition Report. London: EBRD.
15. Fazzari, S.M.; G.R. Hubbard; and B.C. Petersen. 1988. "Financing Constraints and Corporate Investment." Brookings Papers on Economic Activity 1: 141-195.
16. Frydman, R.; C. Gray; M. Hessel; and A. Rapaczynski. 1999. "When Does Privatization Work? The Impact of Private Ownership on Corporate Performance in the Transition Economies." Quarterly Journal of Economics 114, no. 4: 1153-1191.
17. Gao, S., and M. Schaffer. 1998. "Financial Discipline in the Enterprise Sector in Transition Countries: How Does China Compare?" Centre for Economic Reform and Transition Working Paper 98/1, Heriott-Watt University, Edinburgh.
18. Gray, W., and M. Deily. 1996. "Compliance and Enforcement: Air Pollution Regulation in the U.S. Steel Industry." Journal of Environmental Economics and Management 31, no. 1: 96-111.
19. Gupta, N.; J. Ham; and J. Svejnar. 2000. "Priorities and Sequencing in Privatization: Theory and Evidence from the Czech Republic." William Davidson Institute Working Paper no. 369, Ann Arbor, MI.
20. Hanousek, J., and E. Kocenda. 2003. "The Impact of Czech Mass Privatization on Corporate Governance." Journal of Economic Studies 30, nos. 3-4: 278-293.
21. Hanousek, J.; E. Kocenda; and J. Svejnar. 2005. "Origin and Concentration: Ownership, Control, and Corporate Performance After Large-Scale Privatization." Center for Economic Research and Graduate Education-Economics Institute (CERGE-EI) Working Paper no. 259, Prague.
22. Harper, J. 2000. "The Performance of Privatized Firms in the Czech Republic." Florida Atlantic University Working Paper, Boca Raton, FL.
23. Heckman, J. 1979. "Sample Selection Bias as Specification Error." Econometrica 47, no. 1: 153-161.
24. Khanna, M., and L. Damon. 1999. "EPA's Voluntary 33/50 Program: Impact on Toxic Releases and Economic Performance of Firms." Journal of Environmental Economics and Management 37, no. 1: 1-25.
25. Khanna, M.; W.R. Quimio; and D. Bojilova. 1998. "Toxics Release Information: A Policy Tool for Environmental Protection." Journal of Environmental Economics and Management 36, no. 3: 243-266.
26. Kocenda, E. 1999. "Residual State Property in the Czech Republic." Eastern Economic Review 37, no. 5: 6-35.
27. Konar, S., and M. Cohen. 1997. "Information as Regulation: The Effect of Community Right to Know Laws on Toxic Emissions." Journal of Environmental Economics and Management 32, no. 1: 109-124.
28. Konar, S., and M. Cohen. 2001. "Does the Market Value Environmental Performance?" Review of Economics and Statistics 83, no. 2: 281-289.
29. Lizal, L., and J. Svejnar. 2002a. "Investment, Credit Rationing, and the Soft Budget Constraint: Evidence from Czech Panel Data." Review of Economics and Statistics 84, no. 2: 353-370.
30. Lizal, L., and J. Svejnar. 2002b. "Financial Conditions and Investment During the Transition: Evidence from Czech Firms." In Designing Financial Systems in Transition Economies: Strategies for Reform in Central and Eastern Europe, ed. A. Meyendorff and A. Thakor, pp. 215-260. Cambridge, MA: MIT Press.
31. Megginson, W., and J. Netter. 2001. "From State to Market: A Survey of Empirical Studies on Privatization." Journal of Economic Literature 39, no. 2: 321-389.
32. Oliner, S.D., and G.D. Rudebusch. 1992. "Sources of the Financing Hierarchy for Business Investment." Review of Economics and Statistics 74, no. 4: 643-654.
33. Smith, S.; B.-C. Cin; and M. Vodopivec. 1997. "Privatization Evidence, Ownership Forms, and Firm Performance: Evidence from Slovenia." Journal of Comparative Economics 25, no. 2: 158-179.
34. Van Ees, H., and H. Garretsen. 1994. "Liquidity and Business Investment: Evidence from Dutch Panel Data." Journal of Macroeconomics 16, no. 4: 613-627.
35. Wang, H., and D. Wheeler. 2003. "Equilibrium Pollution and Economic Development in China:" Environment and Development Economics 8, no. 3: 451-466.
36. Wang, H., and D. Wheeler. 2005. "Financial Incentives and Endogenous Enforcement in China's Pollution Levy System." Journal of Environmental Economics and Management 49, no. 1: 174-196.
37. Wang, H.; N. Mamingi; B. Laplante; and S. Dasgupta. 2003. "Incomplete Enforcement of Pollution Regulation: Bargaining Power of Chinese Factories." Environmental and Resource Economics 24, no. 3: 245-262.
38. Weiss, A., and G. Nikitin. 2002. "Effects of Ownership by Investment Funds on the Performance of Czech Firms." In Designing Financial Systems in Transition Economies: Strategies for Reform in Central and Eastern Europe, ed. Anna Meyendorff and Anjan Thakor, pp. 187-214. Cambridge, MA: MIT Press.
39. World Bank. 1992. Czech and Slovak Federal Republic Joint Environmental Study. Report no. 9623-CS. Washington, DC.