caa a22 4500 445855401 CHVBK 20180317145426.0 cr unu---uuuuu 170323e20111001xx s 000 0 eng 10.1007/s10640-011-9469-7 doi (NATIONALLICENCE)springer-10.1007/s10640-011-9469-7 Corporate Environmental Management and Environmental Efficiency [Elektronische Daten] [Madhu Khanna, Surender Kumar] This paper examines the potential of environmental management systems (EMSs) to provide opportunities for reducing toxic releases cost-effectively and increasing environmental efficiency of a sample of S&P 500 firms. We use directional distance function to estimate firm-specific environmental efficiency. A truncated regression model with bootstraping is then estimated to analyze the determinants of the environmental efficiency of firms. The analysis shows that the comprehensiveness of an EMS, pressures to reduce toxic releases cost-effectively, innovativeness of firms and the threat of costly regulations in the future lead firms to become more environmental efficient. Regression results indicate that increasing the comprehensiveness of EMS by adopting one additional practice benefits the average firm by approximately US$ 35.5 million by increasing its environmental efficiency by 0.3%. Springer Science+Business Media B.V., 2011 Environmental management systems nationallicence Environmental efficiency nationallicence Directional distance function nationallicence Toxic releases nationallicence Khanna Madhu Department of Agricultural and Consumer Economics, University of Illinois at Urbana-Champaign, 326 Mumford Hall, 1301 W. Gregory Dr., 61801, Urbana, IL, USA aut Kumar Surender Department of Business Economics South Campus, University of Delhi, Benito Juarez Marg, Dhulan kuan, 110021, New Delhi, India aut Environmental and Resource Economics Springer Netherlands 50/2(2011-10-01), 227-242 0924-6460 50:2<227 2011 50 10640 https://doi.org/10.1007/s10640-011-9469-7 text/html Onlinezugriff via DOI 1 research-article jats NATIONALLICENCE 856 40 https://doi.org/10.1007/s10640-011-9469-7 text/html Onlinezugriff via DOI NATIONALLICENCE 700 1- Khanna Madhu Department of Agricultural and Consumer Economics, University of Illinois at Urbana-Champaign, 326 Mumford Hall, 1301 W. Gregory Dr., 61801, Urbana, IL, USA aut NATIONALLICENCE 700 1- Kumar Surender Department of Business Economics South Campus, University of Delhi, Benito Juarez Marg, Dhulan kuan, 110021, New Delhi, India aut NATIONALLICENCE 773 0- Environmental and Resource Economics Springer Netherlands 50/2(2011-10-01), 227-242 0924-6460 50:2<227 2011 50 10640 Metadata rights reserved Springer special CC-BY-NC licence nationallicence BK010053 XK010053 XK010000 NATIONALLICENCE NATIONALLICENCE NL-springer