We investigate the capital structure implications of corporate environmental liabilities, which are captured using the amount of firms' toxic production-related waste. We document that firms with higher environmental liabilities maintain lower financial leverage ratios, suggesting that...

We provide empirical evidence on the adverse effects of supplier firms' environmental risk exposures on their relationships with principal customers. We document that supplier firms with high environmental risk are less likely to have principal customers. Moreover, from the principal customers'...

Inspections have a statistically significant impact on firms' environmental performance in the Chinese city of Zhenjiang, and citizens' complaints have a significant impact on inspections. So stronger information and education campaigns may improve social welfare in the city. - Little empirical...

The empirical literature on environmental performance or compliance has followed two strands: one based on the impact of formal regulation as a means of inducing better environmental performance, and another centered on the role of informal regulation which mainly emphasizes the role of...

Only a small number of studies have empirically examined the determinants of the monitoring and enforcement performed by environmental regulators, and most of these have focused on industrial countries. In contrast, the authors empirically examine the determinants of enforcement in China. More...

The empirical literature on environmental performance or compliance has followed two strands: one based on the impact of formal regulation as a means of inducing better environmental performance, and another centered on the role of informal regulation which mainly emphasizes the role of...

In dealing with local environmental authorities, Chinese firms facing adverse financial situations have more bargaining power than other firms, while those generating more complaints from the public about their emissions have less. Only a small number of studies have empirically examined the...

Inspections have a statistically significant impact on firms' environmental performance in the Chinese city of Zhenjiang, and citizens' complaints have a significant impact on inspections. So stronger information and education campaigns may improve social welfare in the city. Little empirical...