CEO Hometown Preference in Corporate Environmental Policies

References

• Adams RB, Almeida H, Ferreira D (2005) Powerful CEOs and their impact on corporate performance. Rev. Financial Stud. 18(4):1403–1432.Crossref, Google Scholar
• Akey P, Appel I (2021) The limits of limited liability: Evidence from industrial pollution. J. Finance 76(1):5–55.Crossref, Google Scholar
• Andrikogiannopoulou A, Ventouri A, Yonker S (2024) Not in my backyard: Intrinsic motivation and corporate pollution abatement. Preprint, submitted December 13, http://dx.doi.org/10.2139/ssrn.5045768.Google Scholar
• Ballew MT, Leiserowitz A, Roser-Renouf C, Rosenthal SA, Kotcher JE, Marlon JR, Lyon E, Goldberg MH, Maibach EW (2019) Climate change in the American mind: Data, tools, and trends. Environ. Sci. Policy Sustainable Development 61(3):4–18.Crossref, Google Scholar
• Bartram SM, Hou K, Kim S (2022) Real effects of climate policy: Financial constraints and spillovers. J. Financial Econom. 143(2):668–696.Crossref, Google Scholar
• Berg F, Koelbel JF, Rigobon R (2020) Aggregate confusion: The divergence of ESG ratings. Rev. Finance 26(6):1315–1344.Google Scholar
• Bernile G, Bhagwat V, Rau PR (2017) What doesn’t kill you will only make you more risk-loving: Early-life disasters and CEO behavior. J. Finance 72(1):167–206.Crossref, Google Scholar
• Bui LT, Mayer CJ (2003) Regulation and capitalization of environmental amenities: Evidence from the toxic release inventory in Massachusetts. Rev. Econom. Statist. 85(3):693–708.Crossref, Google Scholar
• Chen Y-C, Hung M, Wang Y (2018) The effect of mandatory CSR disclosure on firm profitability and social externalities: Evidence from China. J. Accounting Econom. 65(1):169–190.Crossref, Google Scholar
• Christensen DM, Serafeim G, Sikochi A (2022) Why is corporate virtue in the eye of the beholder? The case of ESG ratings. Accounting Rev. 97(1):147–175.Crossref, Google Scholar
• Chu J, Fisman R, Tan S, Wang Y (2021) Hometown ties and the quality of government monitoring: Evidence from rotation of Chinese auditors. Amer. Econom. J. Appl. Econom. 13(3):176–201.Crossref, Google Scholar
• Cohn J, Deryugina T (2018) Firm-level financial resources and environmental spills. NBER Working Paper No. 24516, National Bureau of Economic Research, Cambridge, MA.Google Scholar
• Cohn JB, Liu Z, Wardlaw MI (2022) Count (and count-like) data in finance. J. Financial Econom. 146(2):529–551.Crossref, Google Scholar
• Cornaggia JN, Cornaggia KJ, Israelsen RD (2020) Where the heart is: Information production and the home bias. Management Sci. 66(12):5532–5557.Link, Google Scholar
• Currie J, Walker R (2019) What do economists have to say about the Clean Air Act 50 years after the establishment of the Environmental Protection Agency? J. Econom. Perspect. 33(4):3–26.Crossref, Google Scholar
• Dahl MS, Sorenson O (2010) The social attachment to place. Soc. Forces 89(3):633–658.Crossref, Google Scholar
• Dai R, Liang H, Ng L (2021) Socially responsible corporate customers. J. Financial Econom. 142(2):598–626.Crossref, Google Scholar
• Dyck A, Lins KV, Roth L, Wagner HF (2019) Do institutional investors drive corporate social responsibility? International evidence. J. Financial Econom. 131(3):693–714.Crossref, Google Scholar
• Fee CE, Hadlock CJ, Pierce JR (2013) Managers with and without style: Evidence using exogenous variation. Rev. Financial Stud. 26(3):567–601.Crossref, Google Scholar
• Fullilove MT (1996) Psychiatric implications of displacement: Contributions from the psychology of place. Amer. J. Psychiatry 153(12):1516–1523.Crossref, Google Scholar
• Gantchev N, Sevilir M, Shivdasani A (2020) Activism and empire building. J. Financial Econom. 138(2):526–548.Crossref, Google Scholar
• Harrington JR, Gelfand MJ (2014) Tightness–looseness across the 50 United States. Proc. Natl. Acad. Sci. USA 111(22):7990–7995.Crossref, Google Scholar
• Henderson JV (1996) Effects of air quality regulation. Amer. Econom. Rev. 86(4):789–813.Google Scholar
• Hernández B, Martín AM, Ruiz C, del Carmen Hidalgo M (2010) The role of place identity and place attachment in breaking environmental protection laws. J. Environ. Psych. 30(3):281–288.Crossref, Google Scholar
• Hoek G, Krishnan RM, Beelen R, Peters A, Ostro B, Brunekreef B, Kaufman JD (2013) Long-term air pollution exposure and cardio-respiratory mortality: A review. Environ. Health 12(1):1–16.Crossref, Google Scholar
• Holusha J (1990) Ed Woolard walks Du Pont’s tightrope. New York Times (October 14), https://www.nytimes.com/1990/10/14/business/ed-woolard-walks-du-pont-s-tightrope.html.Google Scholar
• Iacus SM, King G, Porro G (2011) Multivariate matching methods that are monotonic imbalance bounding. J. Amer. Statist. Assoc. 106(493):345–361.Crossref, Google Scholar
• Jiang F, Qian Y, Yonker SE (2019) Hometown biased acquisitions. J. Financial Quant. Anal. 54(5):2017–2051.Crossref, Google Scholar
• Keiser DA, Shapiro JS (2019) US water pollution regulation over the past half century: Burning waters to crystal springs? J. Econom. Perspect. 33(4):51–75.Crossref, Google Scholar
• Kim S, Yoon A (2023) Analyzing active fund managers’ commitment to ESG: Evidence from the United Nations principles for responsible investment. Management Sci. 69(2):741–758.Link, Google Scholar
• King G, Nielsen R, Coberley C, Pope JE, Wells A (2011) Comparative effectiveness of matching methods for causal inference. Working paper, Harvard University, Cambridge, MA.Google Scholar
• Krueger P, Sautner Z, Starks LT (2020) The importance of climate risks for institutional investors. Rev. Financial Stud. 33(3):1067–1111.Crossref, Google Scholar
• Lai S, Li Z, Yang YG (2020) East, west, home’s best: Do local CEOs behave less myopically? Accounting Rev. 95(2):227–255.Crossref, Google Scholar
• Lim I, Nguyen DD (2021) Hometown lending. J. Financial Quant. Anal. 56(8):2894–2933.Crossref, Google Scholar
• Liu Z, Shen H, Welker M, Zhang N, Zhao Y (2021) Gone with the wind: An externality of earnings pressure. J. Accounting Econom. 72(1):101403.Crossref, Google Scholar
• Morse A, Nanda V, Seru A (2011) Are incentive contracts rigged by powerful CEOs? J. Finance 66(5):1779–1821.Crossref, Google Scholar
• Naaraayanan SL, Sachdeva K, Sharma V (2020) The real effects of environmental activist investing. Preprint, submitted December 5, http://dx.doi.org/10.2139/ssrn.3483692.Google Scholar
• Owens J (2023) Famed former DuPont CEO Woolard dies at 89. Delaware Bus. Times (December 6), https://delawarebusinesstimes.com/news/woolard-dupont-obit/.Google Scholar
• Relph E (1976) Place and Placelessness, vol. 67 (Pion, London).Google Scholar
• Ren S, Cheng Y, Hu Y, Yin C (2021) Feeling right at home: Hometown CEOs and firm innovation. J. Corporate Finance 66:101815.Crossref, Google Scholar
• Rupasingha A, Goetz SJ, Freshwater D (2006) The production of social capital in US counties. J. Socio-Economics 35(1):83–101.Crossref, Google Scholar
• Schiller C (2017) Global supply-chain networks and corporate social responsibility. Preprint, submitted December 18, http://dx.doi.org/10.2139/ssrn.3089311.Google Scholar
• Schoar A, Zuo L (2017) Shaped by booms and busts: How the economy impacts CEO careers and management styles. Rev. Financial Stud. 30(5):1425–1456.Crossref, Google Scholar
• Shapira R, Zingales L (2017) Is pollution value-maximizing? The DuPont case. NBER Working Paper No. 23866, National Bureau of Economic Research, Cambridge, MA.Google Scholar
• Shive SA, Forster MM (2020) Corporate governance and pollution externalities of public and private firms. Rev. Financial Stud. 33(3):1296–1330.Crossref, Google Scholar
• Vaske JJ, Kobrin KC (2001) Place attachment and environmentally responsible behavior. J. Environ. Ed. 32(4):16–21.Crossref, Google Scholar
• Winston A (2019) What 1,000 CEOs really think about climate change and inequality. Harvard Bus. Rev. (September 24), https://hbr.org/2019/09/what-1000-ceos-really-think-about-climate-change-and-inequality.Google Scholar
• Xu Q, Kim T (2022) Financial constraints and corporate environmental policies. Rev. Financial Stud. 35(2):576–635.Crossref, Google Scholar
• Yonker SE (2017a) Do managers give hometown labor an edge? Rev. Financial Stud. 30(10):3581–3604.Crossref, Google Scholar
• Yonker SE (2017b) Geography and the market for CEOs. Management Sci. 63(3):609–630.Link, Google Scholar