Capital Market Responses to Environmental Performance in Developing Countries PDF Download
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Author: Susmita Dasgupta
Publisher: World Bank Publications
ISBN:
Category :
Languages : en
Pages : 40
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Book Description
Author: Susmita Dasgupta
Publisher: World Bank Publications
ISBN:
Category :
Languages : en
Pages : 40
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Author: Benoît Laplante
Publisher:
ISBN:
Category :
Languages : en
Pages : 42
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Book Description
Capital markets do respond to information about a firm's environmental performance and if properly informed, may provide appropriate financial and reputational incentives for pollution control. Perhaps more resources should be used for disseminating firm-specific information about environmental performance to allow all stakeholders to make informed decisions.Firms in developing countries are often said to have no incentives to invest in pollution control because they typically face weak monitoring and enforcement of environmental regulations. But the inability of formal institutions to control pollution through fines and penalties may not be as serious an impediment to pollution control as is generally argued, contend Dasgupta, Laplante, and Mamingi.Capital markets may react negatively to news of adverse environmental incidents (such as spills or violations of permits) as well as positively to the announcement that a firm is using cleaner technologies.The authors assess whether capital markets in Argentina, Chile, Mexico, and the Philippines react to the announcement of firm-specific environmental news. They show that:deg; Capital markets react positively (the firms' market value increases) to the announcement of rewards and explicit recognition of superior environmental performance.deg; They react negatively (the firms' value decreases) to citizens' complaints. Environmental regulators in developing countries could (1) harness market forces by introducing structured programs to release firm-specific information about environmental performance, and (2) empower communities and stakeholders through environmental education programs.This paper - a product of the Development Research Group - is part of the group's ongoing work on industrial pollution and also to study whether capital markets in developing countries can provide incentives needed for pollution control. The study was funded by the Bank's Research Support Budget under the research project Incentives for Pollution Control: The Role of Capital Markets (RPO 680-76).
Author: Mark A. Cohen
Publisher: Investor Responsibility
ISBN: 9781879775268
Category : Corporate profits
Languages : en
Pages : 27
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Book Description
Discover which foreign companies are conducting or are considering conducting business in southern Africa. Abstracts of nearly 2000 firms include the locations, product lines, number of employees & the amount of assets & sales in southern Africa. For companies with non-equity links, abstracts include the name & location of the company's South African distributor or licensee. Appendices sort companies by industry sector, size & location. The "Company Watch" section identifies firms that have announced plans to establish business ties to southern Africa.
Author: Sabri Boubaker
Publisher: Edward Elgar Publishing
ISBN: 1786432633
Category : Business & Economics
Languages : en
Pages : 681
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Book Description
The severe consequences of the global financial crisis 2008-2009 and numerous accounting frauds and financial scandals over the last fifteen years have let to calls for more ethical and responsible actions in all economic activities including consumption, investing, governance and regulation. Despite the fact that ethics in business and corporate social responsibility rules have been adopted in various countries, more efforts have to be devoted to motivate and empower more actors to integrate ethical behavior and rules in making business and managerial decisions. The Research Handbook of Finance and Sustainability will provide the readers but particularly investors, managers, and policymakers with comprehensive coverage of the issues at the crossroads of finance, ethics and sustainable development as well as proposed solutions, while focusing on three different levels: corporations, investment funds, and financial markets.
Author:
Publisher: World Bank Publications
ISBN:
Category :
Languages : en
Pages : 49
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Book Description
Author: Stijn Claessens
Publisher: World Bank Publications
ISBN:
Category : Internacionalizacion - Asia
Languages : en
Pages : 64
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Book Description
April 1998 Asian countries should consider the benefits of opening their financial service sectors more quickly-at the same time that they are liberalizing capital accounts and deregulating domestic financial markets. The internationalization of financial services-eliminating discrimination between the treatment of foreign and domestic providers of financial services and removing barriers to the cross-border provision of financial services-is of global interest, especially in Asia. Most of Asia limits the entry of foreign financial firms much more than otherwise comparable countries do. Empirical evidence for Asia and elsewhere suggests that this slows down institutional development and that, as a result, it costs more to provide financial services. Asian countries could benefit from accelerating the opening of the financial services sector, in conjunction with the further liberalization of capital accounts and domestic deregulation of financial markets. Apart from other benefits, internationalization helps build more robust, efficient financial systems by introducing international practices and standards; by improving the quality, efficiency, and breadth of financial services; and by allowing more stable sources of funds. The ongoing WTO negotiation of financial services under GATS gives countries the opportunity to commit to opening their financial sectors. Safeguards can be built into the process, and the liberalization can be phased in gradually. This paper-a product of the Economic Policy Division, Poverty Reduction and Economic Management Network-is part of a larger effort in the network to study financial reform in developing countries. The paper was written during the summer of 1997, before the East Asia financial crisis and before the conclusion of the WTO negotiations in December 1997.
Author:
Publisher: Gyan Publishing House
ISBN: 9788178357645
Category : Globalization
Languages : en
Pages : 372
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Book Description
Abstracts of papers presented during a seminar.
Author: Samuel Paul
Publisher: World Bank Publications
ISBN:
Category : Civil service
Languages : en
Pages : 29
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Book Description
May 1998 A citizen's assessment of public services provided evidence of inefficiency and corruption and stimulated public service providers to be more responsive to customers. So, public feedback can change behavior. Paul reports how a report card on public services in the Indian city of Bangalore was used by citizen groups to create greater public awareness about the poor performance of public service providers and to challenge them to be more efficient and responsive to their customers. The report card was the result of a survey of a sample of users (both rich and poor) of the city's services and rated public agencies in terms of public satisfaction with different dimensions of their services. Public feedback was used to quantify the extent of corruption and other indirect costs of the services. The result was a citizens' assessment of public services. The survey was completed in 1993, but the follow-up activities continued for three years, with the active involvement of several concerned citizen groups and nongovernment bodies. Paul discusses how the media disseminated the report card findings, how public agencies responded to it, and how agencies joined citizen groups in joint initiatives to improve services. Similar report cards have since been prepared on several other large cities in India. It is not easy to measure the impact of the report card on the quality and responsiveness of Bangalore's service providers. Paul examines the problems involved and gives some intermediate indicators. There is some evidence that public awareness of the problems has increased as a result of the experiment. Civil society institutions seem to be more active and their interactions with public agencies have become better organized, more purposeful, and continuous. As a result, some public agencies in Bangalore have begun to take steps to improve their services. This paper is a product of the Development Research Group. The study was funded by the Bank's Research Support Budget under the research project Effectiveness of Client Surveys in Improving Service Delivery (RPO 682-07). The author may be contacted at
[email protected].
Author: Jem Bendell
Publisher: Routledge
ISBN: 1351282700
Category : Business & Economics
Languages : en
Pages : 342
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Book Description
Business and NGOs are seen by many to be locked in a perpetual war of values and ideologies. What this book demonstrates is that the war has moved on. Many companies are now engaging with their stakeholders – even those with which they have traditionally had antagonistic relationships – as part of their strategies for improved social and environmental performance. With contributions from an outstanding and diverse group of experts from business, consultancy, research institutes, NGOs and academia, Terms for Endearment investigates the how and why of these new collaborations and provides concrete examples of business working with stakeholder pressure for sustainable development. The book forcibly argues the notion of organizations of civil society setting the standards for business behaviour in the 21st century. For those companies that choose not to pursue high standards of social and environmental performance, confrontation with NGOs must be expected, with negative consequences for sales, costs and social capital, i.e. the bottom line. Terms for Endearment therefore presents business with both a threat and opportunity as we move closer to establishing a social basis for global economic activity.
Author: Hua Wang
Publisher: World Bank Publications
ISBN: 0210030410
Category :
Languages : en
Pages : 32
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Book Description
This paper describes a new incentive-based pollution control program in China in which the environmental performance of firms is rated and reported to the public. Firms are rated from best to worst using five colors-green, blue, yellow, red, and black-and the ratings are disseminated to the public through the media. The impact has been substantial, suggesting that public disclosure provides a significant incentive for firms to improve their environmental performance. The paper focuses on the experience of the first two disclosure programs, in Zhenjiang, Jiangsu Province and Hohhot, Inner Mongolia. Successful implementation of these programs at two very different levels of economic and institutional development suggests that public disclosure should be feasible in most of China. The Zhenjiang and Hohhot experiences have also shown that performance disclosure can significantly reduce pollution, even in settings where environmental nongovernmental organizations are not very active and there is no formal channel for public participation in environmental regulation.
