G2TT
来源类型Discussion paper
规范类型论文
来源IDDP16584
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
URLhttps://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.
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