The Reputational Penalties for Environmental Violations
Empirical Evidence
Datos Bibliográficos
| ID | 23315531 |
|---|---|
| Autores | Jonathan M Karpoff (0000-0002-5981-8320, University of Washington), John R Lott, Jr John R Lott, Eric W Wehrly (Western Washington University) |
| Año | 2005 |
| Volumen | 48 |
| Número | 2 |
| Páginas | 653-675 |
| Fecha de publicación | 2005-10-01 |
| Peer Reviewed | Sí |
| Open Access | No |
| Tipo | ARTICLE |
| Revista | The Journal of Law and Economics (JOURNAL) |
| Identificadores de la revista | ISSN: 0022-2186 • E-ISSN: 1537-5285 |
| Editorial | University of Chicago Press (PUBLISHER • US) |
| DOI | 10.1086/430806 |
| OpenAlex | W2119104230 |
| Idioma | EN |
| Citas recibidas | 53 |
| Referencias citadas | 36 |
This paper examines the sizes of the fines, damage awards, remediation costs, and market value losses imposed on companies that violate environmental regulations. Firms that violate environmental laws suffer statistically significant losses in the market value of firm equity. The losses, however, are of similar magnitudes to the legal penalties imposed, and in the cross section, the market value loss is related to the size of the legal penalty. Thus, environmental violations are disciplined largely through legal and regulatory penalties, not through reputational penalties.
Business · Economics · Equity (law) · Market failure · Market value · Microeconomics · Natural resource economics · Value (mathematics) · Finance · Law · Law, Economics, and Judicial Systems · Regulation and Compliance Studies · Wildlife Conservation and Criminology Analyses
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| Obras citantes distintas | 53 |
|---|---|
| Citas por año | 2,94 |
| Intervalo de citas | 2008 - 2026 (19) |
| Velocidad de citación | current |
| Altamente citado | No |
| Tipos de cita | Neutras: 53 |