The DOI matches its Crossref record; 2 of the 2 references it cites were found in a registry or an index.
The Reputational Penalties for Environmental Violations: Empirical Evidence
Open accessAbstract
This paper examines the sizes of the fines, damage awards, remediation costs, and market value losses imposed on companies that violate environmental regulations. Firms that violate environmental laws suffer statistically significant losses in the market value of firm equity. The losses, however, are of similar magnitudes to the legal penalties imposed, and in the cross section, the market value loss is related to the size of the legal penalty. Thus, environmental violations are disciplined largely through legal and regulatory penalties, not through reputational penalties.
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Citations
Cites
Toward a New Conception of the Environment-Competitiveness Relationship
Porter, M. E., & Linde, C. V. D. (1995) · Journal of Economic Perspectives · doi:10.1257/jep.9.4.97 · Cited by 13,365
The Role of Market Forces in Assuring Contractual Performance
Klein, B., & Leffler, K. B. (1981) · Journal of Political Economy · doi:10.1086/260996 · Cited by 3,653
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Environmental externalities and cost of capital
Chava, S. (2014) · Management Science · doi:10.1287/mnsc.2013.1863 · Cited by 1,851
Why Do Investors Hold Socially Responsible Mutual Funds?
RIEDL, A., & SMEETS, P. (2017) · The Journal of Finance · doi:10.1111/jofi.12547 · Cited by 1,378
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Lys, T., Naughton, J. P., & Wang, C. (2015) · Journal of Accounting and Economics · doi:10.1016/j.jacceco.2015.03.001 · Cited by 952
Spinning gold: The financial returns to stakeholder engagement
Henisz, W. J., Dorobantu, S., & Nartey, L. J. (2014) · Strategic Management Journal · doi:10.1002/smj.2180 · Cited by 546
Metadata
- Authors
- Karpoff, J. M., Lott, Jr., & Wehrly, E. W.
- Venue
- The Journal of Law and Economics
- Publisher
- University of Chicago Press
- Published
- 2005-10
- Volume
- 48
- Issue
- 2
- Pages
- 653-675
- ISSN
- 0022-2186 (ISSN-L)
- 1537-5285
- OpenAlex
- W2119104230
- Cited by
- 777
- References
- 2
- FWCI
- 34.19
- Type
- journal article
- Language
- en
- Open access
- green
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Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).
Semantic Scholar’s data is described in: Kinney, R., et al. (2023). The Semantic Scholar Open Data Platform. arXiv:2301.10140.
