کد مقاله | کد نشریه | سال انتشار | مقاله انگلیسی | نسخه تمام متن |
---|---|---|---|---|
10489646 | 938142 | 2005 | 32 صفحه PDF | دانلود رایگان |
عنوان انگلیسی مقاله ISI
An investigation of regulatory and voluntary environmental capital expenditures
دانلود مقاله + سفارش ترجمه
دانلود مقاله ISI انگلیسی
رایگان برای ایرانیان
موضوعات مرتبط
علوم انسانی و اجتماعی
مدیریت، کسب و کار و حسابداری
حسابداری
پیش نمایش صفحه اول مقاله
چکیده انگلیسی
This paper investigates the firm-specific economic consequences of regulatory and voluntary environmental capital expenditures. Using firm-level environmental data, I decompose total environmental capital expenditures into estimates of regulatory and voluntary components. I then examine the relations of regulatory and voluntary environmental capital outlays with future abnormal earnings, stock prices, and stock returns. As predicted, the empirical analysis reveals that regulatory environmental capital expenditures are negatively associated with future abnormal earnings. Moreover, market-based tests indicate that the regulatory component of environmental capital expenditures is negatively priced. Finally, the results suggest that voluntary environmental capital expenditures and regulatory environmental capital expenditures have different firm-specific economic consequences.
ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Journal of Accounting and Public Policy - Volume 24, Issue 3, MayâJune 2005, Pages 175-206
Journal: Journal of Accounting and Public Policy - Volume 24, Issue 3, MayâJune 2005, Pages 175-206
نویسندگان
Derek Johnston,