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来源类型 | Discussion paper |
规范类型 | 论文 |
来源ID | DP16584 |
DP16584 Joining Forces: The Spillover Effects of EPA Enforcement Actions and the Role of Socially Responsible Investors | |
Sudipto Dasgupta; Thanh Huynh; Ying Xia | |
发表日期 | 2021-09-27 |
出版年 | 2021 |
语种 | 英语 |
摘要 | We show that firms reduce emissions at their local plants following EPA enforcement actions against nearby plants of peer firms operating in the same product market. The emission reductions are larger for plants located close to socially responsible mutual funds (SRMFs) that hold the parent firm’s shares, and for plants belonging to firms with high operational flexibility. The close proximity to SRMFs is also associated with adoption of more abatement measures. While plants increase emissions again in the long run, these reversals are prevented for plants located close to SRMFs. We provide evidence that the threat of exit by SRMFs has real consequences for how the local plants respond to the enforcement action The results suggest that local SRMF monitoring complements EPA enforcement. |
主题 | Financial Economics |
关键词 | Socially responsible mutual funds Epa enforcement Spillover effects Toxic emissions |
URL | https://cepr.org/publications/dp16584 |
来源智库 | Centre for Economic Policy Research (United Kingdom) |
资源类型 | 智库出版物 |
条目标识符 | http://119.78.100.153/handle/2XGU8XDN/545533 |
推荐引用方式 GB/T 7714 | Sudipto Dasgupta,Thanh Huynh,Ying Xia. DP16584 Joining Forces: The Spillover Effects of EPA Enforcement Actions and the Role of Socially Responsible Investors. 2021. |
条目包含的文件 | 条目无相关文件。 |
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