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Corporate environmental performance, legal origin, and investor protection

Corporate environmental performance, legal origin, and investor protection Global environmental disasters caused by corporate malfeasance have raised the public's consciousness for improvements in corporate environmental performance (CEP). There are many unknowns in the determinants of CEP. Adopting a legal origin framework, this study examines how CEP of a sample of large international firms relates to legal origin and investor protection. Consistent with expectations, we find CEP to positively relate to the civil law origin as well as investor rights and law enforcement quality. This study contributes to the literature by updating the measure of investor rights as applied to CEP studies, considering the enforcement dimension of investor protection, introducing more comprehensive proxies of CEP and corporate governance, and clarifying the influence of investor protection on CEP. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Interdisciplinary Environmental Review Inderscience Publishers

Corporate environmental performance, legal origin, and investor protection

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Publisher
Inderscience Publishers
Copyright
Copyright © Inderscience Enterprises Ltd
ISSN
1521-0227
eISSN
2042-6992
DOI
10.1504/IER.2020.112597
Publisher site
See Article on Publisher Site

Abstract

Global environmental disasters caused by corporate malfeasance have raised the public's consciousness for improvements in corporate environmental performance (CEP). There are many unknowns in the determinants of CEP. Adopting a legal origin framework, this study examines how CEP of a sample of large international firms relates to legal origin and investor protection. Consistent with expectations, we find CEP to positively relate to the civil law origin as well as investor rights and law enforcement quality. This study contributes to the literature by updating the measure of investor rights as applied to CEP studies, considering the enforcement dimension of investor protection, introducing more comprehensive proxies of CEP and corporate governance, and clarifying the influence of investor protection on CEP.

Journal

Interdisciplinary Environmental ReviewInderscience Publishers

Published: Jan 1, 2020

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