Analyzing the effect of corporate environmental performance on corporate financial performance in developed and developing countries
Manrique, Sergio (Universitat Autònoma de Barcelona. Departament d'Empresa)
Martí-Ballester, Carmen-Pilar (University of Edinburgh. Business School)

Date:	2017
Abstract:	The relationship between corporate environmental performance and corporate financial performance has been extensively studied in developed countries, and has received less attention in developing countries. For this reason, the main objective of this paper is to examine the effect of corporate environmental performance on corporate financial performance during a global financial crisis, depending on the economic development level of the country where a firm is located. To this end, we obtain data for a sample of 2982 large firms from 2008 to 2015. We apply Petersen's approach to these data, adjusting the standard errors for clustering by both firm and year. The results obtained show that the adoption of environmental practices significantly and positively affects the corporate financial performance in developed and developing countries. However, this effect is stronger for firms located in developing countries than those located in developed countries.
Rights:	Aquest document està subjecte a una llicència d'ús Creative Commons. Es permet la reproducció total o parcial, la distribució, la comunicació pública de l'obra i la creació d'obres derivades, fins i tot amb finalitats comercials, sempre i quan es reconegui l'autoria de l'obra original.
Language:	Anglès
Document:	Article ; recerca ; Versió publicada
Subject:	Corporate environmental performance ; Corporate financial performance ; Developed countries ; Developing countries ; Panel data
Published in:	Sustainability, Vol. 9 Núm. 11 (2017) , p. 1957, ISSN 2071-1050

DOI: 10.3390/su9111957

30 p, 334.8 KB

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