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Third party inspections on environme...

Kang, Yong.

Third party inspections on environmental and safety regulation: Theory and empirical evidence.

Record Type:	Electronic resources : Monograph/item
Title/Author:	Third party inspections on environmental and safety regulation: Theory and empirical evidence.
Author:	Kang, Yong.
Description:	163 p.
Notes:	Adviser: Howard Kunreuther.
Notes:	Source: Dissertation Abstracts International, Volume: 66-06, Section: A, page: 2313.
Contained By:	Dissertation Abstracts International66-06A.
Subject:	Economics, General.
Online resource:	http://pqdd.sinica.edu.tw/twdaoapp/servlet/advanced?query=3179756
ISBN:	0542198991

Third party inspections on environmental and safety regulation: Theory and empirical evidence.
Kang, Yong.

Third party inspections on environmental and safety regulation: Theory and empirical evidence. - 163 p.

Adviser: Howard Kunreuther.

Thesis (Ph.D.)--University of Pennsylvania, 2005.

Limited regulatory resources and increasing public concern about environmental protection and industrial safety push policy makers to consider market-based mechanisms as a complement to traditional command-and-control regulation. This research studies the use of one such mechanism, third party inspections, in the area of environmental and safety regulations. We first develop a theoretical model based on Rothschild-Stiglitz (1976) to show that voluntary third party inspections coupled with insurance can provide a credible signal to the public about firms' safety levels, through which social welfare can be improved. To further investigate the efficacy of third party inspections, we conduct an empirical study on the adoption and impact of ISO 14001 certifications in the United States by using the Toxics Release Inventory (TRI) data as a metric of facilities' environmental performance. The key findings are: (1) Even though ISO 14001 is usually certified at the facility level, firm-level factors are more decisive in the adoption of ISO 14001. In particular, the larger the size and the better the environmental performance of the parent company, the more likely its facilities will adopt ISO 14001. (2) The type of industry may also have a significant influence on the ISO 14001 adoption. Facilities in industries with tighter supply chains are more likely to pursue ISO 14001 certification. (3) ISO 14001 has a positive impact on facilities' environmental performance. After a facility is ISO 14001 certified, its toxics releases reduce faster than non-certified facilities. (4) It may take some time for an ISO 14001 certified facility to fully reap the benefits of the new approach to environmental management system. The positive impact of ISO 14001 is usually at its highest one year after the certification is awarded and may decrease over time. To better understand ISO 14001, we also conduct a case study of a major chemical company. We conclude with policy implications and future research.

ISBN: 0542198991Subjects--Topical Terms:

212429
Economics, General.

Third party inspections on environmental and safety regulation: Theory and empirical evidence.
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245 1 0 $a Third party inspections on environmental and safety regulation: Theory and empirical evidence.
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500 $a Adviser: Howard Kunreuther.
500 $a Source: Dissertation Abstracts International, Volume: 66-06, Section: A, page: 2313.
502 $a Thesis (Ph.D.)--University of Pennsylvania, 2005.
520 # $a Limited regulatory resources and increasing public concern about environmental protection and industrial safety push policy makers to consider market-based mechanisms as a complement to traditional command-and-control regulation. This research studies the use of one such mechanism, third party inspections, in the area of environmental and safety regulations. We first develop a theoretical model based on Rothschild-Stiglitz (1976) to show that voluntary third party inspections coupled with insurance can provide a credible signal to the public about firms' safety levels, through which social welfare can be improved. To further investigate the efficacy of third party inspections, we conduct an empirical study on the adoption and impact of ISO 14001 certifications in the United States by using the Toxics Release Inventory (TRI) data as a metric of facilities' environmental performance. The key findings are: (1) Even though ISO 14001 is usually certified at the facility level, firm-level factors are more decisive in the adoption of ISO 14001. In particular, the larger the size and the better the environmental performance of the parent company, the more likely its facilities will adopt ISO 14001. (2) The type of industry may also have a significant influence on the ISO 14001 adoption. Facilities in industries with tighter supply chains are more likely to pursue ISO 14001 certification. (3) ISO 14001 has a positive impact on facilities' environmental performance. After a facility is ISO 14001 certified, its toxics releases reduce faster than non-certified facilities. (4) It may take some time for an ISO 14001 certified facility to fully reap the benefits of the new approach to environmental management system. The positive impact of ISO 14001 is usually at its highest one year after the certification is awarded and may decrease over time. To better understand ISO 14001, we also conduct a case study of a major chemical company. We conclude with policy implications and future research.
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