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Peer Effects and Voluntary Green Building Certification

Author

Listed:
  • Yueming Qiu

    (Technological Entrepreneurship and Management Program, Arizona State University, Tempe, AZ 85281, USA)

  • Shuai Yin

    (Morrison School of Agribusiness, Arizona State University, Tempe, AZ 85281, USA)

  • Yi David Wang

    (School of Banking and Finance, University of International Business and Economics, Beijing 100029, China)

Abstract

Empirical evidence is provided to show that peer effects have statistically significant and positive impacts on the diffusion of green building certificates. Application and approval records of green certificates by commercial buildings in NY and AZ are used. The challenge of self-selection is addressed by the usage of fixed effects and the challenge of reflection is addressed by the time lag delay between a building’s application and its approval. Empirical results show that an additional approved LEED certificate within a zip code will increase the probability of a commercial building in the same zip code to apply for a LEED certificate by 3–4 percentage points; an additional approved Energy Star certificate within a zip code will increase the probability of a commercial building in the same zip code to apply for an Energy Star certificate by 1–2 percentage points.

Suggested Citation

  • Yueming Qiu & Shuai Yin & Yi David Wang, 2016. "Peer Effects and Voluntary Green Building Certification," Sustainability, MDPI, vol. 8(7), pages 1-15, July.
    • Handle: RePEc:gam:jsusta:v:8:y:2016:i:7:p:632-:d:73344
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    Cited by:

    1. Qiu, Yueming & Kahn, Matthew E., 2019. "Impact of voluntary green certification on building energy performance," Energy Economics, Elsevier, vol. 80(C), pages 461-475.
    2. Liang, Quanxi & Li, Qiumei & Lu, Meiting & Shan, Yaowen & Wang, Peipei, 2024. "Peer effects on corporate environmental protection: Competition, information cascades or career concerns?," Pacific-Basin Finance Journal, Elsevier, vol. 84(C).
    3. David T. Tan & Yi Gong & José Gabriel Siri, 2017. "The Impact of Subsidies on the Prevalence of Climate-Sensitive Residential Buildings in Malaysia," Sustainability, MDPI, vol. 9(12), pages 1-26, December.
    4. Yueming (Lucy) Qiu & Xin Su & Yi David Wang, 2017. "Factors influencing commercial buildings to obtain green certificates," Applied Economics, Taylor & Francis Journals, vol. 49(20), pages 1937-1949, April.
    5. Niina Leskinen & Jussi Vimpari & Seppo Junnila, 2020. "A Review of the Impact of Green Building Certification on the Cash Flows and Values of Commercial Properties," Sustainability, MDPI, vol. 12(7), pages 1-22, March.
    6. Siwei Chen & Zhonghua Gou, 2022. "An Investigation of Green Roof Spatial Distribution and Incentive Policies Using Green Buildings as a Benchmark," Land, MDPI, vol. 11(11), pages 1-23, November.

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