Pollution and Human Capital Migration: Evidence from Corporate Executives

Ross Levine (), Chen Lin and Zigan Wang

No 24389, NBER Working Papers from National Bureau of Economic Research, Inc

Abstract: We study the impact of pollution on the migration of high human capital employees. We link data on the opening of toxic-emitting plants with the career paths of executives at S&P 1500 firms. We discover that toxic-emitting plant openings increase executive departures from neighboring firms with adverse effects on stock prices. The results: are larger when polluting plants and firms are geographically closer, hold only for executives physically-based at treated firms, hold only for the opening of polluting plants, do not reflect other local factors or prior stock price performance, and are larger among executives with more general human capital.

JEL-codes: G3 J61 J63 Q5 R32 (search for similar items in EconPapers)
Date: 2018-03
New Economics Papers: this item is included in nep-lab, nep-mig and nep-res
Note: CF EEE
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Citations: View citations in EconPapers (5)

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