Next Article in Journal
Energy Savings from Optimised In-Field Route Planning for Agricultural Machinery
Previous Article in Journal
Shopping for Society? Consumers’ Value Conflicts in Socially Responsible Consumption Affected by Retail Regulation
Article Menu
Issue 11 (November) cover image

Export Article

Open AccessArticle
Sustainability 2017, 9(11), 1957; doi:10.3390/su9111957

Analyzing the Effect of Corporate Environmental Performance on Corporate Financial Performance in Developed and Developing Countries

1
Business Department, Universitat Autònoma de Barcelona, Cerdanyola del Vallès 08193, Spain
2
Business School, University of Edinburgh, Edinburgh EH8 9YL, UK
*
Author to whom correspondence should be addressed.
Received: 11 July 2017 / Revised: 16 October 2017 / Accepted: 16 October 2017 / Published: 27 October 2017
(This article belongs to the Section Economic, Business and Management Aspects of Sustainability)
View Full-Text   |   Download PDF [335 KB, uploaded 31 October 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. View Full-Text
Keywords: corporate environmental performance; corporate financial performance; developing countries; developed countries; panel data corporate environmental performance; corporate financial performance; developing countries; developed countries; panel data
This is an open access article distributed under the Creative Commons Attribution License which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited. (CC BY 4.0).

Scifeed alert for new publications

Never miss any articles matching your research from any publisher
  • Get alerts for new papers matching your research
  • Find out the new papers from selected authors
  • Updated daily for 49'000+ journals and 6000+ publishers
  • Define your Scifeed now

SciFeed Share & Cite This Article

MDPI and ACS Style

Manrique, S.; Martí-Ballester, C.-P. Analyzing the Effect of Corporate Environmental Performance on Corporate Financial Performance in Developed and Developing Countries. Sustainability 2017, 9, 1957.

Show more citation formats Show less citations formats

Note that from the first issue of 2016, MDPI journals use article numbers instead of page numbers. See further details here.

Related Articles

Article Metrics

Article Access Statistics

1

Comments

[Return to top]
Sustainability EISSN 2071-1050 Published by MDPI AG, Basel, Switzerland RSS E-Mail Table of Contents Alert
Back to Top