Firm ownership patterns and motives for voluntary pollution control

From the viewpoint of standard theory, firms have sometimes seemed to overcontrol pollution. However, Gordon (NBER Working Paper, 1990) and others have noted that the more diversified investors are the greater the degree of internalization of externalities. This paper explores the implications of di...

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Veröffentlicht in:	Managerial and decision economics 1997-09, Vol.18 (6), p.421-431
1. Verfasser:	Harford, Jon D.
Format:	Artikel
Sprache:	eng
Schlagworte:	Altruism Business structures Capital assets Commercial regulation Diversification Emissions regulations Enterprises Environmental management Environmental pollution Environmental regulation Equity capital Expected utility Externality Incentives Institutional investments Management Market share Motivation Owners Pollutant emissions Pollution Pollution control Profit Profitability Profits Random variables Regulation Shareholders Spatial dimension Stockholders Utility functions
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