环境规制对大公司生产的影响：以西班牙为例的实证分析外文翻译.doc

本科毕业论文外文翻译 题目：The Effects of Environmental Regulation on the Productivity of Large Companies: An Empirical Analysis of Spanish Case 出 处：Journal of Management and Governance Volume 5,Number 2,129-152,DOI:10.1023/A:1013061723180 作 者：CONCHITA GARCéS AYERBE and CARMEN GALVE GóRRIZ 原文： Abstract：This article provides evidence to the debate about whether or not investments designated for compliance with environmental performance and technology standards favor or harm the work productivity of companies. A panel data model is analyzed, which panel refers to 53 large Spanish companies quoted on the stock exchange and that have participated in a subsidized environmental protection program during the 1990–1995 period, specifically in the Industrial and Technological Program for the Environment (PITMA). A Cobb-Douglas production function is used to relate the work productivity to a measure of the pollution abatement investment dedicated to compliance with standards. The resulting negative coefficient, although close to zero, should not be interpreted as a result derived from just any kind of regulation, but rather a result of the kind of regulation analyzed in this work, meaning the command and control regulation that often binds companies to make environmental investments that are not productive in the conventional economic sense, although they are productive in terms of environmental quality. In addition , and in order to specify the kind of company to which the conclusions of this paper are applicable, the characteristics of the companies that participated in PITMA are analyzed comparatively with companies that did not participate . Key words: environmental regulation. Pollution abatement investment, porter hypothesis, productivity 2．Theories about the Effect of Environmental Regulation on the Productivity of Companies. The most generalized belief evident in conventional literature indicates that envi