I am currently focusing on corporate environmental performance in a capital markets context. In polluting industries, current corporate environmental performance will determine future environmental liabilities with regards to clean-up and compliance costs. Future environmental liabilities tend to be difficult to quantify and thus, they often remain off-balance sheet. These costs have different implications for shareholders, creditors and the general public. Shareholders have limited liability and can profit from a polluting industry, while creditors can end up with a worthless (i.e. polluted) asset. The general public will often end up bearing the burden of living with a polluted environment or paying for a costly clean-up. I am very interested in quantifying this benefit to shareholders and exploring how it affects the behaviour of creditors and policy makers.
||Bewley, K. and T. Schneider. Triple bottom-line accounting in the socail housing sector: An exploratory case study. Accounting and the Public Interest: forthcoming.
||Dixon, R.; A. Sandilya, M. Maier and T. Schneider. "Qualifying Environmental Trusts as Financial Security for Oil Sands Reclamation Liabilities". Oil Sands eserach and Information Network, Technical Report 24. Available at: https://era.library.ualberta.ca/public/view/item/uuid:c664cb50-d82a-420e-bb62-7b4fdca0f7a9
||Schneider, T. "Is environmental performance a determinant of bond pricing? Evidence from the U.S. pulp and paper and chemical industries." Contemporary Accounting Research 28 (5): 1537-1561.
||Schneider, T. "Environmental Liabilities and the move to International Financial Reporting Standards". Oil Sands Research and Information Network, Technical Report 9. Avalibale at: https://era.library.ualberta.ca/public/view/item/uuid:14b5eb37-22bf-430c-a707-b2dd1b861c4b
“Environmental liabilities and diversity in practice under International Financial Reporting Standards”; with M. Maier, University of Alberta and G. Michelon, University of Padova.
“The use of ‘lucky’ numbers in the pricing of Chinese A-share initial public offerings”, with Sun Na, Beijing National Accounting Institute.
Available at: http://papers.ssrn.com/sol3/cf_dev/AbsByAuth.cfm?per_id=1154144