SELF-REGULATION AND REGULATORY DISCRETION: WHY FIRMS MAY BE RELUCTANT TO SIGNAL GREEN
STRATEGY BEYOND MARKETS, pp. 301-329, 2016.
Self-regulationsignalingregulatory discretionasymmetric informationprivate governance
A large literature studies why firms self-regulate and "signal green." However, it has ignored that regulators have enforcement discretion, and may act strategically. We fill this gap. We build a game theoretic model of whether a firm should signal its type through substantial self-regulation. We find self-regulation is a double-edged swo...More
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