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Environment drives financial performance: The Jury is in
Author(s) -
Kiernan Matthew J.,
Levinson Jonathan
Publication year - 1997
Publication title -
environmental quality management
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.249
H-Index - 27
eISSN - 1520-6483
pISSN - 1088-1913
DOI - 10.1002/tqem.3310070202
Subject(s) - damages , restructuring , capitalization , nothing , business , stock (firearms) , finance , bankruptcy , market capitalization , stock market , law , history , political science , archaeology , linguistics , philosophy , epistemology , context (archaeology)
In a single day, June 13, 1994, the total stock market capitalization of Exxon dropped by a full 5 percent, with news of the company's exposure to additional legal damages from the Exxon Valdez disaster. Despite what should have been a jarring wake‐up call, however, Wall Street investors and company CEOs continue for the most part to conduct business as usual, unpersuaded that environmental considerations are anything more than a superficial and temporary blip on their Bloomberg screens. There is mounting evidence that they're dead wrong. In this article, the authors contend what they're currently sleeping through is nothing less than the beginnings of a profound, worldwide industrial restructuring.