TY - GEN
T1 - Environmental information provisions and response of the market
T2 - 2006 1st International Symposium on Environment Identities and Mediterranean Area, ISEIM
AU - Hibiki, Akira
AU - Managi, Shunsuke
PY - 2006
Y1 - 2006
N2 - To explore how information gives firms an incentive to improve environmental performance, we test: (1) whether the financial market values the disclosure of information about the release and transfer of toxic chemical substances; (2) whether market valuation affects an incentive of the firms to reduce their risk and (3) whether the firms with higher releases and transfers have an incentive to reduce their risk even without the market valuation. We find that the Japanese financial market does not value the risk but that, even without market valuation, the firms have an incentive to reduce it.
AB - To explore how information gives firms an incentive to improve environmental performance, we test: (1) whether the financial market values the disclosure of information about the release and transfer of toxic chemical substances; (2) whether market valuation affects an incentive of the firms to reduce their risk and (3) whether the firms with higher releases and transfers have an incentive to reduce their risk even without the market valuation. We find that the Japanese financial market does not value the risk but that, even without market valuation, the firms have an incentive to reduce it.
UR - http://www.scopus.com/inward/record.url?scp=50049124865&partnerID=8YFLogxK
UR - http://www.scopus.com/inward/citedby.url?scp=50049124865&partnerID=8YFLogxK
U2 - 10.1109/ISEIMA.2006.344976
DO - 10.1109/ISEIMA.2006.344976
M3 - Conference contribution
AN - SCOPUS:50049124865
SN - 1424402328
SN - 9781424402328
T3 - 2006 1st International Symposium on Environment Identities and Mediterranean Area, ISEIM
SP - 345
EP - 350
BT - 2006 1st International Symposium on Environment Identities and Mediterranean Area, ISEIM
Y2 - 9 July 2006 through 12 July 2006
ER -
