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The impact of environmental performance rating and disclosure: an empirical analysis of perceptions by polluting firms'managers in China

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  • Jin, Yanhong
  • Wang, Hua
  • Wheeler, David
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Abstract

Environmental performance rating and disclosure has emerged as a substitute or complement for traditional pollution regulation, especially in developing countries. Using data from China's Green Watch program, this study extends previous research on performance rating and disclosure by considering firms'perceptions of public and market responses to their ratings. The results suggest that the Green Watch has significantly increased market and stakeholder pressures on managers to improve their firms’ environmental performance. More specifically, controlling for the characteristics of locations, firms, and individual managers, the analysis finds that firms with better ratings perceive positive impacts on market competitiveness, overall market value, and relationships with different stakeholders, while the firms with bad ratings are more likely to perceive deterioration. Among these factors, managers perceive a more active role for markets than for stakeholder relations.

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Bibliographic Info

Paper provided by The World Bank in its series Policy Research Working Paper Series with number 5419.

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Date of creation: 01 Sep 2010
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Handle: RePEc:wbk:wbrwps:5419

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Keywords: Markets and Market Access; Microfinance; Water and Industry; Brown Issues and Health; Green Issues;

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References

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  1. Konar, Shameek & Cohen, Mark A., 1997. "Information As Regulation: The Effect of Community Right to Know Laws on Toxic Emissions," Journal of Environmental Economics and Management, Elsevier, vol. 32(1), pages 109-124, January.
  2. Khanna, Madhu & Quimio, Wilma Rose H. & Bojilova, Dora, 1998. "Toxics Release Information: A Policy Tool for Environmental Protection," Journal of Environmental Economics and Management, Elsevier, vol. 36(3), pages 243-266, November.
  3. Kiel Katherine A. & McClain Katherine T., 1995. "House Prices during Siting Decision Stages: The Case of an Incinerator from Rumor through Operation," Journal of Environmental Economics and Management, Elsevier, vol. 28(2), pages 241-255, March.
  4. Kennedy, P. & Laplante, B. & Maxwell, J., 1990. "Pollution Policy: The Role of Publicly Provided Information," Papers 9021, Laval - Recherche en Energie.
  5. Pargal, Sheoli & Wheeler, David, 1996. "Informal Regulation of Industrial Pollution in Developing Countries: Evidence from Indonesia," Journal of Political Economy, University of Chicago Press, vol. 104(6), pages 1314-27, December.
  6. Lanoie, Paul & Laplante, Benoit & Roy, Maite, 1998. "Can capital markets create incentives for pollution control?," Ecological Economics, Elsevier, vol. 26(1), pages 31-41, July.
  7. Felix Oberholzer-Gee & Miki Mitsunari, 2006. "Information regulation: Do the victims of externalities pay attention?," Journal of Regulatory Economics, Springer, vol. 30(2), pages 141-158, 08.
  8. Mark Thayer & Heidi Albers & Morteza Rahmatian, 1992. "The Benefits of Reducing Exposure to Waste Disposal Sites: A Hedonic Housing Value Approach," Journal of Real Estate Research, American Real Estate Society, vol. 7(3), pages 265-282.
  9. Katherine A. Kiel, 1995. "Measuring the Impact of the Discovery and Cleaning of Identified Hazardous Waste Sites on House Values," Land Economics, University of Wisconsin Press, vol. 71(4), pages 428-435.
  10. Hua Wang & Jun Bi & Wheeler, David & Jinnan Wang & Dong Cao & Genfa Lu & Yuan Wang, 2002. "Environmental performance rating and disclosure - China's green-watch program," Policy Research Working Paper Series 2889, The World Bank.
  11. Tom Tietenberg, 1998. "Disclosure Strategies for Pollution Control," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 11(3), pages 587-602, April.
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Cited by:
  1. Gozun, Elisea G. & Laplante, Benoit & Wang, Hua, 2011. "Design and implementation of environmental performance rating and public disclosure programs : a summary of issues and recommendations based on experiences in East Asian countries," Policy Research Working Paper Series 5551, The World Bank.

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