Liability for Past Environmental Contamination and Privatization
dc.contributor.author | Earnhart, Dietrich | en_US |
dc.date.accessioned | 2006-08-01T16:14:15Z | |
dc.date.available | 2006-08-01T16:14:15Z | |
dc.date.issued | 2000-03-01 | en_US |
dc.identifier.other | RePEc:wdi:papers:2000-302 | en_US |
dc.identifier.uri | https://hdl.handle.net/2027.42/39686 | en_US |
dc.description.abstract | This paper examines the role of liability for past environmental contamination in the privatization processes of Central and Eastern Europe. The theoretical section establishes a link between a risk-averse investor's amount of information regarding the extent of past environmental contamination (and its cleanup costs) and the investor's willingness to pay for a particular enterprise, i.e., bid. As the investor obtains a more precise estimate of the uncertain cleanup costs, the investor faces less risk; therefore, the investor's risk premium falls and the investor's bid rises. This link generates four hypotheses regarding a privatization agency's responses to the investor's knowledge of cleanup costs. The empirical section of this paper proposes to test these hypotheses with forthcoming analysis using data from the Czech Republic. | en_US |
dc.format.extent | 46683 bytes | |
dc.format.extent | 3151 bytes | |
dc.format.extent | 112512 bytes | |
dc.format.mimetype | text/plain | |
dc.format.mimetype | text/plain | |
dc.format.mimetype | application/pdf | |
dc.language.iso | en_US | en_US |
dc.relation.ispartofseries | 302 | en_US |
dc.subject | Liability, Privatization, Risk, Environmental Contamination | en_US |
dc.subject.other | D80, K32, Q24, Q25 | en_US |
dc.title | Liability for Past Environmental Contamination and Privatization | en_US |
dc.type | Working Paper | en_US |
dc.subject.hlbsecondlevel | Economics | en_US |
dc.subject.hlbtoplevel | Business | en_US |
dc.description.bitstreamurl | http://deepblue.lib.umich.edu/bitstream/2027.42/39686/3/wp302.pdf | en_US |
dc.owningcollname | William Davidson Institute (WDI) - Working Papers |
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