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The purpose of this paper is to investigate whether air pollution has significant impact on corporate cash holdings and financial leverage.

The data of 199 firms listed on Istanbul Stock Exchange during the period 2009–2020 is analyzed by using pooled ordinary least squares and two-step system generalized method of moments models.

The results indicate that firms in regions with high air pollution tend to increase cash level. In addition, the positive effect of air pollution on cash level is stronger and more significant for environmentally sensitive firms and firms with low operational and distress risk. The results also show insignificant effect of air pollution on financial leverage.

Firms in regions with high air pollution should conduct proactive environmental protection procedures and enhance their eco-efficiency instead of holding excess cash that could negatively affect financial performance. In this context, policymakers should provide financial facilities to firms located in regions with high air pollution and that have low ability to finance environmental investments. On the other hand, the environmental laws and regulations introduced by regulatory authorities can enhance the economic development and firm performance by decreasing the adverse influences of air pollution on corporate financial policies.

To the best of the author’s knowledge, this research is one of few that examines the impact of air pollution on corporate cash holdings and financial leverage in emerging markets.

This paper seeks to examine the impact of foreign direct investments (FDI) on air pollution in China using 286 cities from 2001 to 2007. It is a particular interest of this paper to observe the relationship between FDI and air pollution in particular after China joined to World Trade Organization in 2001. This paper provides a better understanding of economic growth and foreign investment while maintaining a sustainable environment. In order to achieve this task, this paper tests whether or not FDI inflow has impact on environmental deterioration in particular on air quality.

Since the data are both cross‐sectional and time series, panel data analyses (fixed effects and random effects) were applied. In order to detect the presence of serial correlation of error term, Durbin‐Watson test was used. As serial correlation problem was determined, generalized least square (GLS) using Ar(1) model was used to overcome serial correlation.

The findings show that FDI has no negative impact on the air quality in China. Contrary to expectations, the presence of FDI reduces the air pollution. This result can be attributed by the role of FDIs in the economy that FDIs are perceived as main sources of advanced technology in China. One of the striking findings of the paper shows that FDI has no significant impact on air quality in the central and western cities. The reason is that low level of FDI inflows to cities located in the Center and West. The findings are robust under both panel data (fixed effects and random effects) and GLS estimations.

The results provide a wide array of information useful to practitioners, policy makers. Since the paper shows that FDI has no negative impact on the air quality, this result is crucial in attracting FDI to China.

This paper provides the largest sample including 286 cities all over China from 2001 to 2007. Considering the distribution of FDI across China, the sample is divided into three regions. Making sub‐samples of the FDI distribution allowed us to examine how the impact of FDI differs on air quality in the East, Central and West regions.

The purpose of this paper is to review the management of air pollution in Mexico and strategies that have been considered to correct the issues, including potential future directions to further improve air quality for Mexico’s environment and people.

Different serious academic databases were searched for material regarding the issue of air pollution in Mexico, such as Scopus and Social Science Citation Index. Regional concern was an important factor that was considered in this review. Material was considered based on its recency, academic importance and veracity. The studies selected mainly ranged from the mid-1990s to 2018.

Air pollution in Mexico has been a primary issue for the country’s administration and that of Mexico’s North American neighbour, the USA. It has contributed significantly to climate change and has had detrimental effects on both the environment and on the health of Mexican citizens in various ways. While efforts to ameliorate the situation have been relatively strong, it is hoped that ongoing cooperation between Mexico, the USA and Canada will influence the development of stricter emissions standards.

This paper considers current circumstances and whether enough has been done to mitigate Mexico’s significant air pollution problem. It also considers several recommendations made by commentators as to potential future directions to rectify the issues, as no similar review has been made for a developing Country.

The purpose of the study is to examine the relationship between air pollution and life expectancy considering the roles of institutional quality, agricultural output, foreign direct investment (FDI) and other socio-economic variables in Nigeria from 1981Q1 to 2019Q4.

The study employed spliced quarterly data from annual series collected from the World Bank development indicators and Central Bank of Nigeria. The dynamic multivariate models were analysed using the vector error correction mechanism (VECM), variance decomposition and Granger causality techniques.

The VECM result indicated a statistically significant adverse effect of air pollution on life expectancy. However, institutional quality, gross domestic product per capita, agricultural output, government social expenditure and school enrolment rate ameliorate the adverse health effects of air pollution, while FDI had mixed effects on life expectancy at different significance levels and at varying lag lengths. The Granger causality result revealed a uni-directional causality from air pollution to life expectancy; bidirectional causal chain between agriculture, FDI, government social expenditure and life expectancy, while a uni-directional causal linkage run from life expectancy to income per head and from school enrolment to life expectancy respectively. However, there is no evidence of causation between institutional quality and life expectancy due to weak institutional quality, but foreign direct invest causes carbon emission in a uni-directional manner in line with pollution haven hypothesis.

The study's modelling is limited by not considering the resource curse variable in the model due to paucity of data. Nigeria is the biggest crude oil exporter in Africa and ranks 13th globally with daily output of about 2.4 m barrels. Thus, the negation of resource curse in air pollution–life expectancy nexus de-emphasises the effectiveness of rich resources on health and environment. Future studies could address this limitation by incorporating resource curse in environmental-health models for Nigeria.

It is imperative for the country to adopt stringent anti-air pollution strategies that would establish a balance between FDI attraction and agricultural expansion to the benefits of her citizens' longevity. Also, education should be considered as a strategic action to enhance life expectancy through expansion in the provision, accessibility and affordability to improved school enrolment rate. The choice of quarterly time series over annual data helped to establish the current relationship between air pollution and life expectancy using efficient estimators.

The study contributes to literature by disaggregating yearly series into quarterly series, which has implications for the efficiency of the estimates, unlike earlier studies which ignored this fundamental process. The result of this study produced reliable policy direction for improvement in life expectancy in an emerging economy since quarterly estimates are more robust and reliable for forecasting than its yearly counterpart. The outcome of the study extended the original tenets of the Grossman's health stock theory using the environmental Kuznets curve (EKC) and pollution haven hypotheses (PHH).

This systematic review examined the emerging threat of indoor and outdoor pollutants to public health in Latin America and the Caribbean (LAC).

Pollutants and pollution levels are becoming an increasing cause for concern within the LAC region, primarily because of the rapid increase in urbanization and the use of fossil fuels. The rise in indoor and outdoor air pollutants impacts public health, and there are limited regional studies on the impact of these pollutants and how they affect public health. A comprehensive literature search was conducted using Google Scholar, PubMed, Scopus, EBSCOhost, Web of Science and ScienceDirect databases. Significant search terms included “indoor air pollution,” “outdoor air pollution,” “pollution,” “Latin America,” “Central America,” “South America” and “Caribbean was used.” The systematic review utilized the Rayyan systematic software for uploading and sorting study references.

Database searches produced 1,674 results, of which, after using the inclusion–exclusion criteria and assessing for bias, 16 studies were included and used for the systematic review. These studies covered both indoor and outdoor pollution. Various indoor and outdoor air pollutants linked to low birth weight, asthma, cancer and DNA impairment were reported in this review. Even though only some intervention programs are available within the region to mitigate the harmful effects of pollution, these programs need to be robust and appropriately implemented, causing possible threats to public health. Significant gaps in the research were identified, especially in the Caribbean.

Limitations of the study include limited available research done within LAC, with most of the research quantifying pollutants rather than addressing their impacts. Additionally, most studies focus on air pollution but neglect water and land pollution’s effects on public health. For this reason, the 16 studies included limited robustness of the review.

Although available studies quantifying pollution threats in LAC were identified in this review, research on the adverse impacts of pollution, especially concerning public health, is limited. LAC countries should explore making cities more energy-efficient, compact and green while improving the transportation sector by utilizing clean power generation. In order to properly lessen the effects of pollution on public health, more research needs to be done and implemented programs that are working need to be strengthened and expanded.

Tanneries present heavy environmental impacts due to air emissions. Specific quality objectives are fixed by European Directives concerning air and, in particular, volatile organic compounds. The purpose of this paper is to present a proposal for the management of air emissions with a view to achieve quality standards in the Italy's largest tannery district by means of a tradable emissions permits (TEPs) system.

A methodological approach is presented and analysed. The proposed system is based on the “bubble” configuration, which appears to be an effective and feasible application based on the total maximum daily load criterion, supported by the air quality standards or the environmental risk assessment (ERA) procedure.

The TEP system favours technological improvements in the reduction of emissions. The system may not provide a solution to the unpleasant odours deriving from the tanneries, but its application supported by ERA will make it possible to define the admissible levels of air pollution and improve the general state of air quality.

Although the study is not exhaustive and requires further investigation in the economic, legal, administrative and air pollution sectors, it does give the basic elements for a preliminary analysis. The evident lack of experimental data concerning weather and climatic features, intrinsic to exposure assessment, has been pointed out.

This study proposes a methodological pathway aimed at defining the system of tradable permits by verifying the existence and availability of the necessary data. The proposed TEP system can be extended to other homogeneous industrial districts with an appropriate selection of one or more critical parameters.

Air quality, noise and proximity to urban infrastructure can arguably have an important impact on the quality of life. Environmental quality (the price of good health) has become a central tenet for consumer choice in urban locales when deciding on a residential neighbourhood. Unlike the market for most tangible goods, the market for environmental quality does not yield an observable per unit price effect. As no explicit price exists for a unit of environmental quality, this paper aims to use the housing market to derive its implicit price and test whether these constituent elements of health and well-being are indeed capitalised into property prices and thus implicitly priced in the market place.

A considerable number of studies have used hedonic pricing models by incorporating spatial effects to assess the impact of air quality, noise and proximity to noise pollutants on property market pricing. This study presents a spatial analysis of air quality and noise pollution and their association with house prices, using 2,501 sale transactions for the period 2013. To assess the impact of the pollutants, three different spatial modelling approaches are used, namely, ordinary least squares using spatial dummies, a geographically weighted regression (GWR) and a spatial lag model (SLM).

The findings suggest that air quality pollutants have an adverse impact on house prices, which fluctuate across the urban area. The analysis suggests that the noise level does matter, although this varies significantly over the urban setting and varies by source.

Air quality and environmental noise pollution are important concerns for health and well-being. Noise impact seems to depend not only on the noise intensity to which dwellings are exposed but also on the nature of the noise source. This may suggest the presence of other externalities that arouse social aversion. This research presents an original study utilising advanced spatial modelling approaches. The research has value in further understanding the market impact of environmental factors and in providing findings to support local air zone management strategies, noise abatement and management strategies and is of value to the wider urban planning and public health disciplines.

The purpose of this paper is to explore the significance impact of air quality as a contributing factor on residential property rents by applying geo-informatics to economic issues. Since air pollution poses a severe health threat, city residents should have a right to know about the (invisible) hazards they are exposed to.

Within spatial-temporal modeling of air pollutants in Berlin, Germany, three interpolation techniques are tested. The most suitable one is selected to create seasonal maps for 2018 and 2021 with pollution concentrations for particulate matter values and nitrogen dioxide for each 1,000 m² cell within the administrative boundaries. Based on the evaluated pollution particulate matter values, which are used as additional variables for semi-parametric regressions the impact of the air quality on rents is estimated.

The findings reveal a compelling association between air quality and the economic aspect of the residential real estate market, with noteworthy implications for both tenants and property investors. The relationship between air pollution variables and rents is statistically significant. However, there is only a “willingness-to- pay” for low particulate matter values, but not for nitrogen dioxide concentrations. With good air quality, residents in Berlin are willing to pay a higher rent (3%).

These results suggest that a “marginal willingness-to-pay” occurs in a German city. The research underscores the multifaceted impact of air quality on the residential rental market in Berlin. The evidence supports the notion that a cleaner environment not only benefits human health and the planet but also contributes significantly to the economic bottom line of property investors.

The paper has a unique data engineering approach. It collects spatiotemporal data from network of state-certified measuring sites to create an index of air pollution. This spatial information is merged with residential listings. Afterward non-linear regression models are estimated.