Empirical research on the characteristics of environmentally responsive companies has focussed almost exclusively on US and Japanese firms. For Europe, which is commonly considered as the greenest of the three major developed economic markets, similar research is lacking. This paper seeks to...

This model explicitly incorporates thedynamic aspects of conservation programs withincomplete compliance and it allows landholders’behaviour to change over time. We find that incompleteand instrument-specific enforcement can have asignificant impact on the choice between subsidyschemes and...