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Stranlund, John K.; Chavez, Carlos A.; Villena, Mauricio G.. |
We consider the pricing of a uniformly mixed pollutant when enforcement is costly with a model of optimal, possibly firm-specific, emissions taxes and their enforcement. We argue that optimality requires an enforcement strategy that induces full compliance by every firm. This holds whether or not regulators have complete information about firms’ abatement costs, the costs of monitoring them for compliance, or the costs of collecting penalties from noncompliant firms. Moreover, ignoring several unrealistic special cases, optimality requires discriminatory emissions taxes except when regulators are unable to observe firms’ abatement costs, the costs of monitoring individual firms, or any firm-specific characteristic that is known to be jointly distributed... |
Tipo: Working or Discussion Paper |
Palavras-chave: Compliance; Enforcement; Emissions Taxes; Monitoring; Asymmetric Information; Uncertainty; Environmental Economics and Policy; L51; Q58. |
Ano: 2007 |
URL: http://purl.umn.edu/7387 |
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Bressan, Valéria Gama Fully; Bressan, Aureliano Angel. |
The study verifies, between march 2005 and march 2006, if there is any difference between the stock yields of a sample of companies listed in Bovespa that adopt the principles of Corporate Governance, in different levels, in relation to the companies of the traditional market. The data were extracted from Economatica’s database; 130 non-financial companies with higher liquidity stock were selected, of which 65 adopt Corporate Governance practices, and 65 operate according to the traditional market. To conduct the study, the Analysis of Variance (ANOVA) and Student’s t test were used. The results show that the mean yield of companies that adopt different Corporate Governance levels was superior to that of the companies which did not adopt these practices.... |
Tipo: Journal Article |
Palavras-chave: Stock Yield; Corporate Governance; Agency Theory; Asymmetric Information; Agribusiness; Agricultural Finance. |
Ano: 2008 |
URL: http://purl.umn.edu/60711 |
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