How the level of census data and TRI releases affect empirical models estimating the amount spent on supplemental environmental projects Online publication date: Mon, 30-Jul-2018
by William B. Galose; Musa Essayyad
American J. of Finance and Accounting (AJFA), Vol. 5, No. 4, 2018
Abstract: This environmental finance paper estimates models of the amount spent on the Supplemental Environmental Projects (SEPs) included in the settlements of a sample of US Environmental Protection Agency (EPA) administrative cases. Demographic variables were generally statistically significant in estimates of models employing US Census Bureau tract-level data for demographic variables. US Census Bureau block group data within a three-mile radius of the involved facility were obtained from US EPA Facility Reports. The block group data demographic variables were generally not statistically significant in models which were similar to the tract-level data models. The inclusion of TRI control variables did not substantially affect the results. Thus, when employing SEPs to finance environmental projects, the scale of demographic variables influences empirical models estimating the amount spent on SEPs.
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