We test recent theory on the benefits of auctions and bargaining as alternative procurement mechanisms using data on the procurement of medical devices by Italian hospitals. Theory suggests that auctions perform well when cost control is the key concern, but are less effective at producing the...

Voluntary agreements (VAs) negotiated between environmental regulators and polluters are increasingly popular in developing countries. According to proponents, they can sidestep weak institutions and other pervasive barriers to conventional mandatory regulation in such countries. Yet little is...

We theorize that social media will reduce the incidence of corporate greenwash. Drawing on the management literature on decoupling and the economic literature on information disclosure, we characterize specifically where this effect is likely to be most pronounced. We identify important...

Jarrell (J Law Econ 21:269–295, <CitationRef CitationID="CR11">1978</CitationRef>) found that electricity prices fell more slowly in states that adopted state regulation before 1917, suggesting that regulators were “captured” by the interests of the regulated electric utilities. An alternative explanation is that state regulation...</citationref>

We find that firms winning Green Company Awards in China from 2008 to 2011 experienced on average insignificant and in some cases significantly negative effects on shareholder value. Various robustness checks suggest that these findings are not driven by the inefficiency of the Chinese stock...