PT  - JOURNAL ARTICLE
AU  - Wang, Zhongmin
TI  - Firm Visibility and Voluntary Environmental Behavior: Evidence from Hydraulic Fracturing
AID  - 10.3368/le.93.4.654
DP  - 2017 Nov 01
TA  - Land Economics
PG  - 654--666
VI  - 93
IP  - 4
4099  - http://le.uwpress.org/content/93/4/654.short
4100  - http://le.uwpress.org/content/93/4/654.full
SO  - Land Econ2017 Nov 01; 93
AB  - Larger firms are often found to be more likely to participate in voluntary environmental programs, but few studies have investigated the mechanism through which firm size matters. This paper studies oil and gas firms’ likelihood of voluntarily disclosing information on hydraulic fracturing, an industrial process that involves the use of toxic chemicals. I find evidence that firm visibility is an important mechanism through which firm size affects the voluntary disclosure rate. My findings suggest that voluntary approaches to environmental protection are unlikely to be effective if many targeted firms are small and not visible to the public. (JEL D21, Q58)