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Article: Regulation, innovation, and firm selection: The porter hypothesis under monopolistic competition

TitleRegulation, innovation, and firm selection: The porter hypothesis under monopolistic competition
Authors
KeywordsPollution
Heterogeneous firms
Environmental regulations
Porter Hypothesis
Monopolistic competition
Issue Date2017
PublisherAcademic Press. The Journal's web site is located at http://www.elsevier.com/locate/jeem
Citation
Journal of Environmental Economics and Management, 2017 How to Cite?
AbstractThe Porter Hypothesis (PH) posits that well-designed environmental regulations can stimulate innovation, which may lead to efficiency gains or even profit increase in regulated firms. In this study, we revisit the PH under monopolistic competition by incorporating two important features in our model and analysis, namely, firm heterogeneity and general equilibrium. We show that the PH holds for high-capability firms, but not for low-capability firms. Heterogeneous responses exist in innovation investment, but the average industry productivity increases. We obtain an interesting finding that adds a new feature to the PH. This finding indicates that strict environmental regulations can encourage firm entry and exit, thereby improving the composition of firms in the regulated industry.
Persistent Identifierhttp://hdl.handle.net/10722/258896
ISSN
2017 Impact Factor: 2.635
2015 SCImago Journal Rankings: 2.915

 

DC FieldValueLanguage
dc.contributor.authorQiu, LD-
dc.contributor.authorZhou, M-
dc.contributor.authorWei, X-
dc.date.accessioned2018-09-03T03:57:41Z-
dc.date.available2018-09-03T03:57:41Z-
dc.date.issued2017-
dc.identifier.citationJournal of Environmental Economics and Management, 2017-
dc.identifier.issn0095-0696-
dc.identifier.urihttp://hdl.handle.net/10722/258896-
dc.description.abstractThe Porter Hypothesis (PH) posits that well-designed environmental regulations can stimulate innovation, which may lead to efficiency gains or even profit increase in regulated firms. In this study, we revisit the PH under monopolistic competition by incorporating two important features in our model and analysis, namely, firm heterogeneity and general equilibrium. We show that the PH holds for high-capability firms, but not for low-capability firms. Heterogeneous responses exist in innovation investment, but the average industry productivity increases. We obtain an interesting finding that adds a new feature to the PH. This finding indicates that strict environmental regulations can encourage firm entry and exit, thereby improving the composition of firms in the regulated industry.-
dc.languageeng-
dc.publisherAcademic Press. The Journal's web site is located at http://www.elsevier.com/locate/jeem-
dc.relation.ispartofJournal of Environmental Economics and Management-
dc.subjectPollution-
dc.subjectHeterogeneous firms-
dc.subjectEnvironmental regulations-
dc.subjectPorter Hypothesis-
dc.subjectMonopolistic competition-
dc.titleRegulation, innovation, and firm selection: The porter hypothesis under monopolistic competition-
dc.typeArticle-
dc.identifier.emailQiu, LD: larryqiu@hku.hk-
dc.identifier.authorityQiu, LD=rp01093-
dc.identifier.hkuros289338-
dc.identifier.volumeforthcoming-
dc.publisher.placeUnited States-

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