English, Article, Journal or magazine article edition: ESTIMATING THE IMPACT ON EFFCIENCY FROM VOLUNTARY REGULATION: AN EMPIRICAL STUDY OF THE GLOBAL COPPER MINING INDUSTRY Lise Tole

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Bookmark: http://trove.nla.gov.au/version/1273
Physical Description
  • preprint
Language
  • English

Edition details

Title
  • ESTIMATING THE IMPACT ON EFFCIENCY FROM VOLUNTARY REGULATION: AN EMPIRICAL STUDY OF THE GLOBAL COPPER MINING INDUSTRY
Author
  • Lise Tole
Physical Description
  • preprint
Notes
  • This paper uses plant level data on the worlds copper min- ing industry to measure changes in e¢ ciency from the adoption of the ISO 14001 environmental standard. The ISO 14001 is a voluntary standard that sets out minimum guidelines and procedures that …rms should follow in order to achieve more e¤ective management of the environment. Anecdotal and case study lit- erature suggests that …rms are motivated to adopt the ISO 14001 standard and seek certi…cation for a number of reasons. One important reason is the desire to achieve greater e¢ ciency and cost savings through changes in operating proce- dures and processes aimed at the minimization of waste pollution and reduction in the use of resource inputs. Using plant level data from 1992-2007 on virtually all of the worlds industrial copper mines the study tests this hypothesis in a stochastic frontier and random e¤ects model framework. The study measures the impact on operations of ISO 14001 adoption both in respect to the inten- tion to seek ISO 14001 certi…cation (the period before certi…cation when …rms must make necessary changes to their operations and management) and the pe- riod when and after certi…cation is achieved. The study …nds no evidence that adoption of the ISO 14001 standard imposes a cost on …rms either through lower e¢ ciencies or higher costs. In fact, in many cases adoption is associated with higher e¢ ciency, and to a certain extent, lower costs. Thus, the studys …ndings would tend to go against the claims of much of the academic literature that regulation has negative impacts on the …rm. Although …ndings were not robust to model choice or a subset sample, our results clearly indicate that, at a minimum, the adoption of the ISO 14001 does not raise costs or lower e¢ ciency for …rms.
  • ISO 14001; stochastic frontier production function; e¢ - ciency; cost savings; mining.
  • RePEc:rim:rimwps:03-09
Language
  • English
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