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Lender Liability for Environmental Harm: An Argument Against Negligence Based Rules

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  • Eberhard Feess

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File URL: http://hdl.handle.net/10.1023/A:1008799526682
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Bibliographic Info

Article provided by Springer in its journal European Journal of Law and Economics.

Volume (Year): 8 (1999)
Issue (Month): 3 (November)
Pages: 231-250

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Handle: RePEc:kap:ejlwec:v:8:y:1999:i:3:p:231-250

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Web page: http://www.springerlink.com/link.asp?id=100264

Related research

Keywords: lender liability; limited liability effect; monitoring; vague negligence rule;

References

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Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
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  1. Dominique Demougin & Claude Fluet, 1996. "Mechanism Sufficient Statistic in the Risk-Neutral Agency Problem," Cahiers de recherche du Département des sciences économiques, UQAM 9602, Université du Québec à Montréal, Département des sciences économiques.
  2. Posey, Lisa Lipowski, 1993. "Limited liability and incentives when firms can inflict damages greater than net worth," International Review of Law and Economics, Elsevier, vol. 13(3), pages 325-330, September.
  3. Schwartz, Alan., 1984. "Products Liability, Corporate Structure and Bankruptcy: Toxic Substances and the Remote Risk Relationship," Working Papers 542, California Institute of Technology, Division of the Humanities and Social Sciences.
  4. Dominique Demougin & Claude Fluet, 1997. "Monitoring versus Incentives: Substitutes or Complements?," Cahiers de recherche CREFE / CREFE Working Papers 47, CREFE, Université du Québec à Montréal.
  5. Boyd, James & Ingberman, Daniel E, 1997. "The Search for Deep Pockets: Is "Extended Liability" Expensive Liability?," Journal of Law, Economics and Organization, Oxford University Press, vol. 13(1), pages 232-58, April.
  6. Newman, Harry A. & Wright, David W., 1990. "Strict liability in a principal-agent model," International Review of Law and Economics, Elsevier, vol. 10(3), pages 219-231, December.
  7. Balkenborg, D., 1997. "Bargaining power and the impact of lender liability for environmental damages," Discussion Paper Series In Economics And Econometrics 9709, Economics Division, School of Social Sciences, University of Southampton.
  8. Heyes, Anthony G, 1996. "Lender Penalty for Environmental Damage and the Equilibrium Cost of Capital," Economica, London School of Economics and Political Science, vol. 63(250), pages 311-23, May.
  9. Shavell, Steven, 1997. "The optimal level of corporate liability given the limited ability of corporations to penalize their employees," International Review of Law and Economics, Elsevier, vol. 17(2), pages 203-213, June.
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Citations

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Cited by:
  1. Helm, Carsten, 2005. "How Liable should an Exporter be? The Case of Trade in Hazardous Goods," Darmstadt Discussion Papers in Economics 36799, Darmstadt Technical University, Department of Business Administration, Economics and Law, Institute of Economics (VWL).
  2. Juan José Ganuza & Fernando Gómez, 2003. "Optimal negligence rule under limited liability," Economics Working Papers 759, Department of Economics and Business, Universitat Pompeu Fabra, revised May 2004.
  3. Hutchinson, Emma & van 't Veld, Klaas, 2005. "Extended liability for environmental accidents: what you see is what you get," Journal of Environmental Economics and Management, Elsevier, vol. 49(1), pages 157-173, January.
  4. Henry van Egteren & R. Smith & Dean McAfee, 2004. "Harmonization of Environmental Regulations When Firms are Judgment Proof," European Journal of Law and Economics, Springer, vol. 17(2), pages 139-164, March.
  5. Steven Shavell, 2005. "Liability for Accidents," NBER Working Papers 11781, National Bureau of Economic Research, Inc.
  6. Garmon, Christopher, 2005. "A Note on Negligence and Collusion-Proof Liability," International Review of Law and Economics, Elsevier, vol. 25(2), pages 256-263, June.
  7. Feess, E. & Hege, U., 2000. "Safety Monitoring, Capital Structure, and "Financial Responsibility"," Discussion Paper 2000-33, Tilburg University, Center for Economic Research.

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