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| 題 名 | Characteristics of Firms Releasing Toxic Waste into the Air |
|---|---|
| 作 者 | Ragothaman, Srinivasan; Carr, David L.; Rosacker, Kirsten M.; | 書刊名 | Academy of Taiwan Business Management Review |
| 卷 期 | 4:3 2008.12[民97.12] |
| 頁 次 | 頁1-9 |
| 分類號 | 445.6 |
| 關鍵詞 | |
| 語 文 | 英文(English) |
| 英文摘要 | The United States Environmental Protection Agency (EPA) requires manufacturing facilities located within the U.S. to disclose their release, above a specified amount, of specific toxic chemicals to the EPA. This data is referred to as the Toxic Release Inventory (TRI). This research builds on prior research and examines the determinants of TRI disclosures. Our sample comes from TRI disclosures for “top 100” corporate polluters based on COMPUSTAT data. Descriptive statistics and correlation measures are also provided. The regression results indicate that firms that release large amounts of waste into the air incur high amounts of capital expenditure, are less profitable and have bigger investments in property, plant and equipment. Tobin’s q is used as a measure of firm value and it is negatively related to waste discharge. Firm size as proxied by the number of employees has a moderate impact on waste discharge. Industry type is a significant predictor of waste discharge. A firm’s beta and the corporate governance variable are statistically insignificant. The sample used in this study is small and hence caution is warranted when generalizing the results. |
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