Advertising and Environmental Stewardship: Evidence from the BP Oil Spill
研究了2010年英国石油公司漏油事件后，消费者是否惩罚了该公司，以及此前“超越石油”绿色广告活动如何影响这种惩罚，发现广告削弱了价格反应，表明企业可能仅通过广告而非实际环保投入获得激励。
This paper explores whether private markets can incentivize environmental stewardship. We examine the consumer response to the 2010 BP oil spill and test how BP's investment in the 2000-2008 "Beyond Petroleum" green advertising campaign affected this response. We find evidence consistent with consumer punishment: BP station margins and volumes declined by 2.9 cents per gallon and 4.2 percent, respectively, in the month after the spill. However, pre-spill advertising significantly dampened the price response, and may have reduced brand switching by BP stations. These results indicate that firms may have incentives to engage in green advertising without investments in environmental stewardship.