Abatement investments and green goodwill
This paper develops and estimates a dynamic model that links profits to green goodwill. Assuming that abatement investments generate green goodwill, and using data from the Swedish pulp industry, we are able to test the effects of green goodwill on firm level output price and profits. The results suggests that Swedish pulp plant output prices and profits may be positively related to changes in green goodwill. Furthermore, no evidence is found to support the existence of adjustment costs due to abatement investments.
Volume (Year): 35 (2003)
Issue (Month): 18 ()
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References listed on IDEAS
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- Hamilton James T., 1995. "Pollution as News: Media and Stock Market Reactions to the Toxics Release Inventory Data," Journal of Environmental Economics and Management, Elsevier, vol. 28(1), pages 98-113, January.
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- Lundgren, Tommy & Sjöström, Magnus, 1998. "A Dynamic Factor Demand Model for the Swedish Pulp Industry, 1998," Umeå Economic Studies 479, Umeå University, Department of Economics.
- Runar Brannlund & Karl-Gustaf Lofgren, 1996. "Emission Standards and Stochastic Waste Load," Land Economics, University of Wisconsin Press, vol. 72(2), pages 218-230.
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