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Cited by 344Corporate Finance and GovernanceCorporate Social Responsibility ReportingPolitical Influence and Corporate Strategies

The DOI matches its Crossref record; 42 of the 42 references it cites were found in a registry or an index.

Corporate Governance and Pollution Externalities of Public and Private Firms*

Open access
Shive, Sophie A, Forster, Margaret M·2020·The Review of Financial Studies
DOI 10.1093/rfs/hhz079
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Abstract

The number of U.S. publicly traded firms has halved in 20 years. How will this shift in ownership structure affect the economy’s externalities? Using comprehensive data on greenhouse gas emissions from 2007 to 2016, we find that independent private firms are less likely to pollute and incur EPA penalties than are public firms, and we find no differences between private sponsor-backed firms and public firms, controlling for industry, time, location, and a host of firm characteristics. Within public firms, we find a negative association between emissions and mutual fund ownership and board size, suggesting that increased oversight may decrease externalities.

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Crossref · 10.1093/rfs/hhz079

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42 of 42 references verified0 citation errors · 0 not checkable

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Citations

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Research works printed but not linked: 2

  1. Hart,, 2017, Should a company pursue shareholder value?
  2. 2017, European investors lead US counterparts for ESG adoption

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Metadata

Authors
Shive, S. A., & Forster, M. M.
Affiliations
University of Notre Dame (US)
Corresponding author
Shive, Sophie A
ORCID
Shive, Sophie A
Venue
The Review of Financial Studies
Publisher
Oxford University Press (OUP)
Published
2020-02-14
Volume
33
Issue
3
Pages
1296-1330
ISSN
  • 0893-9454 (ISSN-L)
  • 1465-7368
DOI
10.1093/rfs/hhz079
OpenAlex
W2969724914
Cited by
343
References
42
Citations by year
2026: 40 · 2025: 89 · 2024: 69 · 2023: 49 · 2022: 38 · 2021: 32 · 2020: 14
FWCI
58.04
Type
journal article
Language
en
Open access
Licence
academic.oup.com/journals/pages/open_access/funder_policies/chorus/standard_publication_model (vor)
Locations
  • Review of Financial Studies (publishedVersion)
  • SSRN Electronic Journal (publishedVersion)
  • RePEc: Research Papers in Economics (submittedVersion)
Funders
University of Notre Dame
Topics
  • Social Sciences › Economics, Econometrics and Finance › Finance › Corporate Finance and Governance
  • Social Sciences › Business, Management and Accounting › Strategy and Management › Corporate Social Responsibility Reporting
  • Social Sciences › Business, Management and Accounting › Strategy and Management › Political Influence and Corporate Strategies
Keywords
corporate governance, pollution externalities, greenhouse gas emissions, public companies, private enterprises, ownership structure, mutual fund ownership, board size, ownership concentration

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