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首页> 外文期刊>Journal of comparative economics >Are environmentally responsible firms less vulnerable when investing abroad? The role of reputation
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Are environmentally responsible firms less vulnerable when investing abroad? The role of reputation

机译:对环境负责的公司在海外投资时是否较不容易受到影响?声誉的作用

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摘要

Globalization allows multinational firms to locate strategically the polluting activities in lax countries. This paper revisits the empirical evidence by exploiting heterogeneity in firms' environmental image. While locating in countries with weak environmental standards is likely to be detrimental for a firm's image and reputation, investing in corporate environmental responsibility can help firms to convince consumers that they have good environmental practices, even when investing in the "dirty" countries. Exploiting an original database that records an index of environmental responsibility for large European firms, we find that the firms viewed as environment-friendly are more often than others located in countries with weak environmental regulations. We show that our findings are not likely to be driven by omitted variables bias, specific sectors nor particular countries. Interestingly, this relationship is observed only among the firms with a well established reputation for environmental responsibility. Journal of Comparative Economics 45 (2017) 520-543. Univ. Paris 1 Pantheon Sorbonne, CES, CNRS UMR 8174, Maison des Sciences Economiques, 106-112 Boulevard de l'Hopital, 75647 Paris cedex 13, France; University of Lausanne (HEC) - DEEP, Switzerland; Universite Paris 13 - CEPN and CNRS, France. (C) 2016 Association for Comparative Economic Studies. Published by Elsevier Inc. All rights reserved.
机译:全球化使跨国公司能够在松懈的国家中战略性地定位污染活动。本文通过利用企业环境形象的异质性来重新审视经验证据。虽然将环境标准设在弱国可能会损害公司的形象和声誉,但对公司的环境责任进行投资可以帮助公司说服消费者,即使在“肮脏”的国家进行投资也具有良好的环境实践。利用原始数据库记录大型欧洲公司的环境责任指数,我们发现被认为是环境友好型的公司比环境法规薄弱的国家中的其他公司更多。我们表明,我们的发现不太可能受到遗漏的变量偏见,特定部门或特定国家的驱动。有趣的是,这种关系仅在具有良好环境责任声誉的公司中观察到。比较经济学杂志45(2017)520-543。大学巴黎1 Pantheon Sorbonne,CES,CNRS UMR 8174,科学之家科学馆,医院大道106-112,75647巴黎cedex 13,法国;洛桑大学(HEC)-DEEP,瑞士;巴黎13大学-CEPN和CNRS,法国。 (C)2016年比较经济研究协会。由Elsevier Inc.出版。保留所有权利。

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