Corporate governance and environmental risk management: A quantitative analysis of ‘new paradigm’ firms

Pensions at Work: Socially Responsible Investment of Union-Based Pension Funds

Volumn , Issue , 2008, Pages 129-158

  Clark, Gordon L ^a   Salo, James ^a  

^a UNIVERSITY OF OXFORD   (United Kingdom)

Author keywords

[No Author keywords available]

Indexed keywords

EID: 84967018601     PISSN: None     EISSN: None     Source Type: Book    
DOI: None     Document Type: Chapter

References (57)

1. Bakan, J. (2004). The corporation: The pathological pursuit of power and profit. New York: Vintage.
2. Berle, A., & Means, B. (1933). The modern corporation and private property (rev. ed.). New York: Harcourt, Brace and World.
3. Black, B. (2001). Does corporate governance matter? A crude test using Russian data. University of Pennsylvania Law Review, 149, 2131–50.
4. Blair, M., & Kochan, T. (2000). The new relationship: Human capital in the American corporation. Washington: Brookings Institution Press.
5. Bogle, J.C. (2005). The battle for the soul of capitalism. New Haven: Yale University Press.
6. Boulton, R., Libert, B., & Samek, S. (2000). Cracking the value code: How successful businesses are creating wealth on the new economy. Toronto: HarperCollins.
7. Carbon Disclosure Project. (2005). About the Carbon Disclosure Project (CDP). Retrieved 17 December 2005 from CDP website: http://www.cdproject.net/
8. Clark, G.L. (2000). Pension fund capitalism. Oxford: Oxford University Press.
9. Clark, G.L., & Hebb, T. (2004). Pension fund corporate engagement: The fifth stage of capitalism. Relations industrielles/Industrial Relations, 59, 142–71.
10. Clark, G.L., & Hebb, T. (2005). Why should they care? The role of institutional investors in the market for corporate global responsibility. Environment and Planning A, 37(11), 2015–31.
11. Clark, G.L., Hebb, T., & Salo, J. (2006). Shareholder activism in the public spotlight: Social investors’ resolutions at U.S. corporate annual general meetings, 2001–2004. Retrieved 17 December 2006 from Pensions at Work website: http://www.pensionsatwork.ca/english/pdfs/clark_wpg06_02.pdf
12. Council of Institutional Investors. (2005). Welcome. Retrieved 17 December 2006 from Council of Institutional Investors website: http://www.cii.org/
13. Credit Suisse First Boston –Holt. (2006). About Holt. Retrieved 10 February 2006 from Credit Suisse website: http://www.csfb.com/institutional/csfb_holt/about_holt.shtml
14. Davis, E., & Steil, B. (2001). Institutional investors. Cambridge: MIT Press.
15. De Jong, A., De Jong, D., Mertens, G., & Wasley, C. (2002). The role of self-regulation in corporate governance: Evidence from the Netherlands. Working report. No. FR 00-20. Tilburg: Simon School of Business.
16. DeLoach, J. (2000). Enterprise-wide risk management. London: Financial Times, Prentice Hall.
17. Derwall, J., Günster, N., Bauer, R., & Koedijk, K. (2004). The eco-efficiency premium puzzle. Financial Analysts Journal, 61(2), 51–63.
18. Doukas, J., & Padmanabhan, P. (2002). The operational hedging properties of intangible assets: The case of non-voluntary foreign asset selloffs. Journal of International Financial Management and Accounting, 13(3), 183–213.
19. Dowell, G., Hart, S., & Yeung, B. (2000). Do corporate global environmental standards create of destroy market value? Management Science, 46(8), 1059–74.
20. Drobetz, W., Shchillhofer, A., & Zimmermann, H. (2003). Corporate governance and expected stock returns: Evidence from Germany. Paper presented at the EFMA 2003 Helsinki Meetings, WWZ, Department of Finance, University Basel, Basel, Switzerland.
21. Edwards, D. (1998). The link between environmental and financial performance. London: Earthscan.
22. Environmental Capital Markets Committee. (2000). Green dividends? The relationship between firms’ environmental performance and financial performance. Washington, DC: U.S. Environmental Protection Agency, National Advisory Council for Environmental Policy and Technology. Retrieved 7 September 2007 from http://www.epa.gov/ocempage/nacept/green_dividends.pdf
23. Fama, E. (1965). The behaviour of stock market prices. Journal of Business, 38(1), 34–105.
24. Fama, E., & Jensen, M. (1983). Separation of ownership and control. Journal of Law and Economics, 26, 301–25.
25. Gompers, P., Ishii, J., & Metrick, A. (2003). Corporate governance and equity prices. Quarterly Journal of Economics, 18(1), 107–55.
26. Gregory, J. (2001). The bottom-line impact of corporate brand investment: An analytical perspective on the drivers of ROI of corporate brand communications. Journal of Brand Management, 8(6), 405–16.
27. Haapaniemi, P. (2000, March). What’s in a reputation? Chief Executive, 48–51.
28. Hawley, J., & Williams, A. (2000). The rise of fiduciary capitalism. Philadelphia: University of Pennsylvania Press.
29. Hebb, T. (2006). The economic inefficiency of secrecy: Pension fund investors’ transparency concerns. Journal of Business Ethics, 63(4), 385–405.
30. Hill & Knowlton. (2006). Return on reputation. Retrieved 28 June 2007 from Hill & Knowlton website: http://www2.hillandknowlton.com/crw/home/asp
31. Hoeffler, S., & Keller, K. (2003). The marketing advantages of strong brands. Journal of Brand Management, 10(6), 421–45.
32. Holt, D., Quelch, J., & Taylor, E. (2004). How global brands compete. Harvard Business Review, 82(9), 68–75.
33. Interfaith Center on Corporate Responsibility. (2006). March 2006 ICCR electronic newsletter. Retrieved March 2006.
34. Jensen, M. (2000). A theory of the firm: Governance, residual claims, and organizational forms. Cambridge: Harvard University Press.
35. Jensen, M., & Meckling, W. (1976). Theory of the firm: Managerial behavior, agency costs, and ownership structure. Journal of Financial Economics, 3(4), 305–60.
36. Kiernan, M., & Lievinson, J. (1998). Environment drives financial performance: The jury is in. Environmental Quality Management, 7(2), 1–7.
37. Knight, R., & Pretty, D. (2000, 20 June). Day of judgment: Catastrophe and the share price. Financial Times.
38. La Porta, R., Lopez-De-Silanes, F., Shleifer, A., & Vishny, R. (2002). Investor protection and corporate valuation. Journal of Finance, 57(3), 1147–70.
39. Lev, B. (2001). Intangibles: Management, measurement, and reporting. Washington: Brookings Institute.
40. Lowenstein, L. (1996). Financial transparency and corporate governance: You manage what you measure. Columbia Law Review, 96, 1335–73.
41. Mata, J. (1991). Sunk costs and entry by small and large plants. In P. Geroski & J. Schwalbach (Eds.), Entry and market contestability. Oxford: Blackwell.
42. McKinsey. (2000). Investor opinion survey. Retrieved 27 February 2007 from McKinsey website: http://www.oecd.org/dataoecd/56/7/1922101.pdf
43. Monks, R. (2001). The new global investors. Oxford: Capstone.
44. Orlitzky, M., Schmidt, F., & Rynes, S. (2003). Corporate social and financial performance: A meta-analysis. Organization Studies, 24, 403–11.
45. Porter, M., & van der Linde, C. (1995). Green and competitive: Ending the stalemate. Harvard Business Review, 73, 120–34.
46. Pratt, J., & Zeckhauser, R. (Eds.). (1987). Principals and agents. Boston: Harvard Business School Press.
47. Roberts, J. (2004). The modern firm: Organizational design for performance and growth. Oxford: Oxford University Press.
48. Roe, M.J. (1994). Strong managers, weak owners: The political roots of American corporate finance. Princeton: Princeton University Press.
49. Russell Reynolds. (2000). Corporate governance in the new economy: 2000 international survey of institutional investors. Author.
50. Salo, J. (2005a, April 8). Corporate governance & environmental performance: An assessment and empirical analysis of the relationship using two proprietary databases. Paper presented at the American Association of Geographers, Annual Conference, Denver, CO.
51. Salo, J. (2005b). The emergence of non-financial rating agencies for the promotion of global standards: An assessment and empirical analysis of two proprietary databases. Retrieved 1 August 2007 from Pensions at Work website: http://www.pensionsatwork.ca/english/pdfs/salo_rating_ agencies.pdf
52. Teece, D. (2000). Managing intellectual capital. Oxford: Oxford University Press.
53. Teece, D. (2002). Dynamic capacities. In W. Lazonick (Ed.), The handbook of economics (pp. 156–71). London: Thompson.
54. United Nations Environment Program. (2005). A legal framework for the integration of environmental, social and governance issues into institutional investment. Geneva: Author.
55. Wójcik, D. (2006). Convergence in corporate governance: Evidence from Europe and the challenge for economic geography. Journal of Economic Geography, 6(5), 639–60.
56. Zingales, F. (1998). What’s a company’s reputation worth? Global Finance, 12(2), 1.
57. Zingales, L. (2000). In search of new foundations. Journal of Finance, 55, 1623–53.