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Firm Pollution and Reputational Risk: Where Do We Stand?

In: New Challenges for the Banking Industry

Author

Listed:
  • Alexia Ventouri

    (King’s College London)

  • Georgios Chortareas

    (King’s College London)

  • Fangyuan Kou

    (King’s College London)

Abstract

This chapter considers the association between a firm’s pollution abatement behavior and reputational risk. We examine the contemporary literature on the interplay between a company’s environmental performance and financial performance, environmental performance and financing costs, and environmental performance and corporate governance characteristics. We discuss the interconnections between corporate ownership and environmental responsibility. We then analyze the links between reputational risk and polluting activities, focusing on the driving factors of corporate reputation risk and CSR. We provide an exploratory analysis of reputational risk, considering the experience of U.S. companies over 13 years before the COVID-19 pandemic. We use corporate chemical emission and reputational risk data from the United Toxic Release Inventory of the U.S. Environmental Protection Agency and the RepRisk database, respectively. Our exploratory results reveal a strong link between corporate pollution and the reputational risk of firms.

Suggested Citation

  • Alexia Ventouri & Georgios Chortareas & Fangyuan Kou, 2023. "Firm Pollution and Reputational Risk: Where Do We Stand?," Palgrave Macmillan Studies in Banking and Financial Institutions, in: Santiago Carbó-Valverde & Pedro J. Cuadros-Solas (ed.), New Challenges for the Banking Industry, chapter 0, pages 119-143, Palgrave Macmillan.
    • Handle: RePEc:pal:pmschp:978-3-031-32931-9_6
    DOI: 10.1007/978-3-031-32931-9_6
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