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Narcissism, political tenure, financial indicators and the effectiveness of environmental regulation

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  • Minhua Yang
  • Vikash Ramiah
  • Imad Moosa
  • Yu He

Abstract

This article explores the factors that determine the effectiveness of environmental regulation in the United States and Australia. Unlike prior literature, in which lagging performance measures (such as carbon emissions) are used, we use financial data to develop effectiveness scores and identify the determinants of effectiveness, including narcissistic behaviour, tenure of political leaders and financial indicators. Consistent with the emerging literature on environmental finance, we find that abnormal returns are associated with environmental regulation and that effectiveness is adversely affected when narcissistic leaders are in power. Our results remain robust when we control for various event windows and models.

Suggested Citation

  • Minhua Yang & Vikash Ramiah & Imad Moosa & Yu He, 2018. "Narcissism, political tenure, financial indicators and the effectiveness of environmental regulation," Applied Economics, Taylor & Francis Journals, vol. 50(21), pages 2325-2338, May.
    • Handle: RePEc:taf:applec:v:50:y:2018:i:21:p:2325-2338
    DOI: 10.1080/00036846.2017.1394977
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    Cited by:

    1. Yang, Minhua & He, Yu, 2019. "How does the stock market react to financial innovation regulations?," Finance Research Letters, Elsevier, vol. 30(C), pages 259-265.
    2. Lee, Chien-Chiang & Wang, Chih-Wei & Ho, Shan-Ju, 2022. "The dimension of green economy: Culture viewpoint," Economic Analysis and Policy, Elsevier, vol. 74(C), pages 122-138.
    3. Antunes, Jorge Junio Moreira & Neves, Juliana Campos & Elmor, Larissa Rosa Carneiro & Araujo, Michel Fontaine Reis De & Wanke, Peter Fernandes & Tan, Yong, 2023. "A new perspective on the U.S. energy efficiency: The political context," Technological Forecasting and Social Change, Elsevier, vol. 186(PA).

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