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Small Firms and Superfund: Assessing the Impact

Author

Listed:
  • Jeffrey E. Sohl

    (University of New Hampshire)

  • William E. Wetzel

    (University of New Hampshire)

Abstract

While all firms experience varying degrees of difficulty in complying with environmental regulations, small firms have their own set of special problems in dealing with environmental compliance. The lack of legal and engineering staffs, the management structure, and a high cost per unit of production to comply with environmental regulations implies a diversion of a small firm’s limited resources to formulating a cost effective response to the rapidly changing landscape of environmental regulations. The cornerstone of the shifting focus towards hazardous waste regulation, in terms of both actual and potential impacts, is the Comprehensive Environmental Response, Compensation, and Liability Act, commonly referred to as Superfund. Given the unique liability features of Superfund, the objective of this research is to assess the impact of Superfund liability on the ability of small firms to raise capital, invest in plant and equipment, and to continue their role as the principal job generating segment of the U.S. economy.

Suggested Citation

  • Jeffrey E. Sohl & William E. Wetzel, 1994. "Small Firms and Superfund: Assessing the Impact," Journal of Entrepreneurial Finance, Pepperdine University, Graziadio School of Business and Management, vol. 3(2), pages 141-157, Spring.
  • Handle: RePEc:pep:journl:v:3:y:1994:i:2:p:141-157
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    Cited by:

    1. Garber, Steven & Hammitt, James K., 1998. "Risk Premiums for Environmental Liability: Does Superfund Increase the Cost of Capital?," Journal of Environmental Economics and Management, Elsevier, vol. 36(3), pages 267-294, November.

    More about this item

    Keywords

    Small Firms; Small Business; Superfund;

    JEL classification:

    • Q21 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - Demand and Supply; Prices
    • L25 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Firm Performance
    • Q28 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - Government Policy

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