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| Author: | Khanna, M. Damon, L. |
| Title: | EPA's voluntary 33/50 program: impact on toxic releases and economic performance of firms |
| Journal: | Journal of Environmental Economics and Management
1999 : JAN, VOL. 37:1, p. 1-25 |
| Index terms: | COMPANIES ENVIRONMENT ECONOMICS |
| Language: | eng |
| Abstract: | This paper examines the motivations for participation in the voluntary 35/50 Program and the program's impact on the toxic releases and economic performance of firms in the US chemical industry. It demonstrates that the benefits due to public recognition and the potentially avoided costs of liabilities and compliance under mandatory environmental regulations provide strong incentives for participation. After controlling the sample selection bias and the impact of other firm-specific characteristics, this paper shows that program participation led to a statistically significant decline in toxic releases over the period 1991-93. |
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