This study investigates environmental R&D (ER&D) risk choice by polluting duopoly firms under environmental corporate social responsibility (ECSR) guideline. We show that the ER&D risk level under cooperative ER&D is always higher than under non-cooperative ER&D, resulting in a higher expected...

Abstract This study investigates the impact of target emissions from polluting firms on the production of green technology and the optimal policy decisions of privatization on the eco-industry under their voluntary commitments. For this, we formulate a vertical structure consisting of a...