Using data on 48 states from 1982-1994, we estimate the impact of environmental regulation on technical inefficiency of U.S. states' manufacturing sector. The result indicates that environmental stringency has significant and positive impacts on U.S. states' technical inefficiency.

This study employs state-level panel data to examine the effect of income inequality on crime in the United States. Using panel cointegration techniques, we find a significant negative effect of inequality on crime.

We explore how powerful CEOs view investments in corporate social responsibility (CSR). The agency view suggests that CEOs invest in CSR to enhance their own private benefits. On the contrary, the conflict resolution view argues that CSR investments are made to resolve the conflicts among...