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Book Disclosure of Environmental Violations and the Stock Market in the Republic of Korea

Download or read book Disclosure of Environmental Violations and the Stock Market in the Republic of Korea written by Susmita Dasgupta and published by . This book was released on 2016 with total page 39 pages. Available in PDF, EPUB and Kindle. Book excerpt: For almost 20 years, the Ministry of Environment of the Republic of Korea has published on a monthly basis a list of enterprises that fail to comply with national environmental laws and regulations. In this paper, the authors examine the reaction of investors to the publication of these lists and show that enterprises appearing on these lists have experienced a significant decline in their market valuation.Firms in developing countries are often said to have no incentives to invest in pollution control because they typically face weak monitoring and enforcement of environmental regulations. The findings of the authors, however, indicate that the inability of formal institutions to control pollution through fines and penalties may not be as serious an impediment to pollution control as is generally argued. Environmental regulators in developing countries could harness market forces by introducing structured programs to release firm-specific information about environmental performance.This paper - a product of the Infrastructure and Environment Team, Development Research Group - is part of the group's work on industrial pollution control.

Book Disclosure of Environmental Violations and the Stock Market in the Republic of Korea

Download or read book Disclosure of Environmental Violations and the Stock Market in the Republic of Korea written by Susmita Dasgupta and published by . This book was released on 2013 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: For almost 20 years, the Ministry of Environment of the Republic of Korea has published on a monthly basis a list of enterprises that fail to comply with national environmental laws and regulations. In this paper, the authors examine the reaction of investors to the publication of these lists and show that enterprises appearing on these lists have experienced a significant decline in their market valuation. Firms in developing countries are often said to have no incentives to invest in pollution control because they typically face weak monitoring and enforcement of environmental regulations. The findings of the authors, however, indicate that the inability of formal institutions to control pollution through fines and penalties may not be as serious an impediment to pollution control as is generally argued. Environmental regulators in developing countries could harness market forces by introducing structured programs to release firm-specific information about environmental performance.

Book Public Disclosure of Environmental Violations in the Republic of Korea

Download or read book Public Disclosure of Environmental Violations in the Republic of Korea written by Jong Ho Hong and published by . This book was released on 2016 with total page 20 pages. Available in PDF, EPUB and Kindle. Book excerpt: Since 1989, environmental authorities of the Republic of Korea have published on a monthly basis a list of enterprises violating the country's environmental rules and regulations. This may be the longest environmental public disclosure program currently in existence. Over the period 1993-2001 in excess of 7,000 violations have been recorded in these monthly violation lists, involving more than 3,400 different companies. In this paper, Hong, Laplante, and Meisner provide a comprehensive descriptive analysis of this dataset. Results suggest that the news media have given an important, though perhaps declining coverage, to the violation lists, with a focus on publicly traded companies, failures to operate pollution abatement equipment, and prosecutions.This paper - a product of Infrastructure and Environment, Development Research Group - is part of a larger effort in the group to analyze the role of public disclosure as an environmental policy tool.

Book Environmental Regulation and Public Disclosure

Download or read book Environmental Regulation and Public Disclosure written by Shakeb Afsah and published by Routledge. This book was released on 2013-03-05 with total page 150 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is a remarkable case study of an environmental policy initiative for a national environmental regulatory system in the information age. In 1995 the Indonesian Ministry of Environment took the bold step to launch an environmental disclosure initiative called the Program for Pollution Control, Evaluation and Rating (PROPER). Under PROPER, environmental performance of companies is mapped into a five-color grading scale – Gold for excellent, Green for very good, Blue for good, Red for non-compliance, and Black for causing environmental damage. These ratings are then publicly disclosed through a formal press conference and posted on the internet. Not only did this simple rating scheme create a major media buzz and enhanced environmental awareness of the general public, but it also unleashed a wide range of performance incentives that showed how markets with environmental information could function in a developing country setting. The authors provide a multidisciplinary analysis of how the PROPER program harnessed the power of public disclosure to abate the problem of industrial pollution. They describe how the program has successfully improved the average environmental compliance rate from close to thrity per cent in 1995 to as high as seventy per cent in 2011. This improvement was driven primarily by information disclosure, which avoided expensive and unpredictable legal enforcement through the court system of Indonesia. The combination of institutional history and detailed economic and analyses sheds light on the role of policy entrepreneurs who laid the foundation for disclosure and transparency, despite the constraints of the Suharto regime. The PROPER program is now internationally recognized and continues to serve as a model for many developing countries.

Book World Bank Research Program

Download or read book World Bank Research Program written by World Bank and published by . This book was released on 2006 with total page 204 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Book Annual World Bank Conference on Development Economics 2010 Global

Download or read book Annual World Bank Conference on Development Economics 2010 Global written by Justin Yifu Lin and published by World Bank Publications. This book was released on 2011-05-17 with total page 392 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Annual World Bank Conference on Development Economics (ABCDE) is one of the world’s best-known series of conferences for the presentation and discussion of new knowledge on development. The conference provides a forum for the world’s leading development thinkers to share new knowledge and ideas. 'Lessons from East Asia and the Global Financial Crisis' was the theme of the ABCDE held in Seoul, Republic of Korea, on June 22–24, 2009. The conference was co-organized by the Government of the Republic of Korea, the Korea Development Institute (KDI), and the World Bank.

Book The World Bank Research Program 2005 2007

Download or read book The World Bank Research Program 2005 2007 written by and published by World Bank Publications. This book was released on 2008 with total page 286 pages. Available in PDF, EPUB and Kindle. Book excerpt: This pocket-sized reference on key environmental data for over 200 countries includes key indicators on agriculture, forestry, biodiversity, energy, emission and pollution, and water and sanitation. The volume helps establish a sound base of information to help set priorities and measure progress toward environmental sustainability goals.

Book Corporations in Evolving Diversity

Download or read book Corporations in Evolving Diversity written by Masahiko Aoki and published by Oxford University Press. This book was released on 2010-05-06 with total page 227 pages. Available in PDF, EPUB and Kindle. Book excerpt: The 2008-9 financial crisis demands we look anew at the role of corporations, and the working of financial markets around the world. In this book, Masahiko Aoki provides a compelling new analysis of the corporate firm; the role of shareholders, managers and workers; and institutional governance structures.

Book The Impact of Coffee Market Reforms on Producer Prices and Price Transmission

Download or read book The Impact of Coffee Market Reforms on Producer Prices and Price Transmission written by Ekaterina Krivonos and published by . This book was released on 2004 with total page 46 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Book Social and Environmental Disclosure by Chinese Firms

Download or read book Social and Environmental Disclosure by Chinese Firms written by Yingjun Lu and published by Routledge. This book was released on 2014-03-26 with total page 253 pages. Available in PDF, EPUB and Kindle. Book excerpt: Given the increased social and environmental problems in China, this book looks into the social and environmental (environmental) disclosure practices of socially responsible Chinese listed firms by constructing a stakeholder-driven, three-dimensional, disclosure index. The book contains a three-part study: the first part explores the current status of social and environment disclosure practices. The second part empirically examines the relationship between corporate social and environmental disclosure and various influencing factors (i.e. stakeholders’ power and corporate characteristics). The third part empirically examines the link between corporate social responsibility (CSR) reporting (i.e. publishing a CSR report and the quality of the CSR report) and socially responsible reputation. The book finds that the CSR report provided more stakeholder-relevant social and environmental disclosure than the annual report. It also finds that corporate characteristics such as firm size, profitability and industry classification are all statistically significant factors influencing social and environmental disclosure of the Chinese firms studied. Shareholders significantly influenced firms’ social and environmental disclosure, and creditors significantly influenced firms’ disclosure related to their environmental performance. The final part of the study reports that publishing a CSR report and CSR reporting quality had a positive influence on firms’ socially responsible reputation and that the CEO/chairman duality negatively influenced firms’ socially responsible reputation. The book also highlights that financial performance and firm size were the two corporate characteristics that had a positive influence on corporate socially responsible reputation. This book will be of interest to those who are keen to learn more about corporate social responsibilities in the context of Chinese firms.

Book Firms Environmental Performance

Download or read book Firms Environmental Performance written by and published by World Bank Publications. This book was released on 2006 with total page 20 pages. Available in PDF, EPUB and Kindle. Book excerpt: "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 communities and capital markets. The authors analyze the impact of environmental news in print media on firms' environmental performance. Using data from a survey of industrial facilities in the Republic of Korea, probit estimation results indicate that the publication of environmental news in print media and the firm's awareness of this publication are important predictors of a firm's environmental performance, more so than environmental laws, regulations, and environmental training. This paper thus reemphasizes the key role of media in influencing firms' environmental performance. "--World Bank web site.

Book Index to International Statistics

Download or read book Index to International Statistics written by and published by . This book was released on 2005 with total page 1064 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Book Bibliographie Mensuelle

Download or read book Bibliographie Mensuelle written by United Nations Library (Geneva, Switzerland) and published by . This book was released on 2004-07 with total page 944 pages. Available in PDF, EPUB and Kindle. Book excerpt: