English, Article edition: CERCLA AND DEEP POCKETS: MARKET RESPONSE TO THE SUPERFUND PROGRAM RICHARD K. HARPER; STEPHEN C. ADAMS

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Physical Description
  • article
Language
  • English

Edition details

Title
  • CERCLA AND DEEP POCKETS: MARKET RESPONSE TO THE SUPERFUND PROGRAM
Author
  • RICHARD K. HARPER
  • STEPHEN C. ADAMS
Physical Description
  • article
Notes
  • This paper uses event study methods to estimate wealth effects upon shareholders who are named by the U.S. Environmental Protection Agency (EPA) as potentially responsible parties at a Superfund site. Impacts appear to be divided into three periods: an initial program period where stock market effects depend largely on prior visibility of the site, a second period where likely financial impact is more important, and a third period where notification has little association with either visibility or financial measures. However, the expected remediation cost burden is not borne evenly. "Deep-pocket" firms appear to be disproportionately penalized by the market during the second period. Copyright 1996 Western Economic Association International.
  • RePEc:bla:coecpo:v:14:y:1996:i:1:p:107-115
Language
  • English
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