The literature on trade openness, economic development, and the environment is largely inconclusive about the environmental consequences of trade. This study treats trade and income as endogenous and estimates the overall impact of trade openness on environmental quality using the instrumental...

The environmental performance of a listed firm could affect its level of investment in pollution prevention and its access to financial markets. Previous studies using Tobin’s q that explore market response to environmental performance do not distinguish between the impact of performance on...

Using Japanese facility-level data from an OECD survey, we estimate the effects of implementation of ISO14001 and publication of environmental reports on the facilities' environmental performance. While most previous studies focused on an index of emissions toxicity, this study examines three...

This paper seeks to understand the effect of social, economic and political conditions on the selection and effectiveness of voluntary policy in Japan. Borrowing from two sets of literature, the paper develops a two-dimensional framework for analysis of voluntary policy that helps clarify the...