Shades of Green: Business, Regulation, and Environment

How much does regulation matter in shaping corporate behavior? This pathbreaking, in-depth study of fourteen pulp manufacturing mills in the United States, Canada, Australia, and New Zealand reveals that steadily tightening regulatory standards have been crucial for raising environmental performance. But while all firms have shown improvement, some have improved more than others, many going substantially beyond compliance.

What explains the variation in compliance? It's not necessarily the ...