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Voluntary Corporate Environmental Initiatives and Shareholder Wealth

Fisher-Vanden, Karen; Thorburn, Karin S - C.E.P.R. Discussion Papers - 2008

Researchers debate whether environmental investments reduce firm value or can actually improve financial performance. We provide some first evidence on shareholder wealth effects of voluntary corporate environmental initiatives. Companies announcing membership in Climate Leaders and Ceres - two...

Persistent link: https://www.econbiz.de/10005662265

What is the Top Priority on Climate Change?

Klemperer, Paul - C.E.P.R. Discussion Papers - 2009

What should be the West's top priority for climate-change policy? This article is a revised and updated version of my talk to the Potsdam Global Sustainability Symposium (which drafted the Potsdam Declaration presented to the 2007 UN Climate Change Conference in Bali).

Persistent link: https://www.econbiz.de/10005123837

Optimal taxes on fossil fuel in general equilibrium

Golosov, Mikhail; Hassler, John; Krusell, Per; … - C.E.P.R. Discussion Papers - 2011

We analyze a dynamic stochastic general-equilibrium (DSGE) model with an externality---through climate change---from using fossil energy. A central result of our paper is an analytical derivation of a simple formula for the marginal externality damage of emissions. This formula, which holds...

Persistent link: https://www.econbiz.de/10009246613

Enforcement of Regulation, Informal Labour, Firm Size and Firm Performance

Almeida, Rita; Carneiro, Pedro - C.E.P.R. Discussion Papers - 2006

This paper investigates how enforcement of labour regulation affects the firm's use of informal labour, firm size and … level, and administrative data on enforcement of regulation at the city level, we show that in areas where law enforcement … labour productivity. We control for different regional and firm characteristics, and we instrument enforcement with the …

Persistent link: https://www.econbiz.de/10005661940

Structural Reforms and Growth: Product and Labor Market Deregulations

Eijffinger, Sylvester C W; Rossi, Alberto - C.E.P.R. Discussion Papers - 2006

The paper focuses on labor and product market deregulations, as fundamental elements in the passage from an investment to an innovation-based economy. The approach undertaken is prominently empirical. After a very brief description of the regulatory levels on the two sides of the Atlantic, we...

Persistent link: https://www.econbiz.de/10005792522

Effects of Deregulation and Vertical Unbundling on the Performance of China's Electricity Generation Sector

Gao, Hang; Van Biesebroeck, Johannes - C.E.P.R. Discussion Papers - 2011

productivity in the generation segment of the industry. Controlling explicitly for sources of price-heterogeneity across firms and …

Persistent link: https://www.econbiz.de/10009385757

Does the Separation of Regulatory Powers Reduce the Threat of Capture? Evidence from the US Maritime Bureaucracy

Uribe, Marín; Luis, Pedro; Sicotte, Richard - C.E.P.R. Discussion Papers - 2003

Recent economic theories have investigated the susceptibility of diverse public bureaucratic structures to capture by private industry. In particular, Laffont and Martimort (1999) propose that the separation of regulatory powers will reduce the threat of capture. We analyse investor reaction to...

Persistent link: https://www.econbiz.de/10005504380

Third Party Monitoring and Golden Parachutes

Iossa, Elisabetta; Legros, Patrick - C.E.P.R. Discussion Papers - 2001

When today’s actions can affect tomorrow's value of an asset and when the principal does not have access to hard information, either about productive activity or monitoring activity, two incentive problems must be simultaneously solved: first, the ‘ex-ante’ moral hazard problem of inducing...

Persistent link: https://www.econbiz.de/10005504381

Law Enforcement under Incomplete Law: Theory and Evidence from Financial Market Regulation

Pistor, Katharina; Xu, Cheng-Gang - C.E.P.R. Discussion Papers - 2003

the history of financial market regulation. …

Persistent link: https://www.econbiz.de/10005504579

Footloose Monopolies: Regulating a "National Champion"

Calzolari, Giacomo; Scarpa, Carlo - C.E.P.R. Discussion Papers - 2007

We analyze the design of optimal regulation of a domestic monopolist that also competes in an unregulated foreign … market. We show how foreign activities by the regulated firm affect domestic regulation, consumers’ surplus and firm …

Persistent link: https://www.econbiz.de/10005504706