메뉴 건너뛰기




Volumn 70, Issue 9, 2011, Pages 1691-1700

How does environmental performance affect financial performance? Evidence from Japanese manufacturing firms

Author keywords

Environmental performance; Financial performance; Greenhouse gas emissions; Japanese manufacturing firms; Waste emissions

Indexed keywords

CARBON EMISSION; ENVIRONMENTAL IMPACT ASSESSMENT; ENVIRONMENTAL ISSUE; ENVIRONMENTAL MANAGEMENT; GREENHOUSE GAS; GROWTH RATE; INDUSTRIAL ENTERPRISE; INDUSTRIAL WASTE; MANUFACTURING;

EID: 79958291116     PISSN: 09218009     EISSN: None     Source Type: Journal    
DOI: 10.1016/j.ecolecon.2011.05.010     Document Type: Article
Times cited : (258)

References (31)
  • 1
    • 58249109340 scopus 로고    scopus 로고
    • Does it pay to be green? a systematic overview
    • Ambec S., Lanoie P. Does it pay to be green? a systematic overview. Academy of Management Perspectives 2008, 22(4):45-62.
    • (2008) Academy of Management Perspectives , vol.22 , Issue.4 , pp. 45-62
    • Ambec, S.1    Lanoie, P.2
  • 2
    • 67149104200 scopus 로고    scopus 로고
    • The economic impacts of voluntary environmental performance of firms: a critical review
    • Blanco E., Rey-Maquieira J., Lozano J. The economic impacts of voluntary environmental performance of firms: a critical review. Journal of Economic Surveys 2009, 23(3):462-502.
    • (2009) Journal of Economic Surveys , vol.23 , Issue.3 , pp. 462-502
    • Blanco, E.1    Rey-Maquieira, J.2    Lozano, J.3
  • 3
    • 79958250735 scopus 로고    scopus 로고
    • Socially Responsible Investment: A Statistical Analysis of Returns
    • Butz C., Plattner A. Socially Responsible Investment: A Statistical Analysis of Returns. Bank Sarasin Basic Report, Basel 2000.
    • (2000) Bank Sarasin Basic Report, Basel
    • Butz, C.1    Plattner, A.2
  • 4
    • 33748094433 scopus 로고    scopus 로고
    • Globalization, firm-level characteristics and environmental management: a study of Japan
    • Cole M.A., Elliott R.J.R., Shimamoto K. Globalization, firm-level characteristics and environmental management: a study of Japan. Ecological Economics 2006, 59(3):312-323.
    • (2006) Ecological Economics , vol.59 , Issue.3 , pp. 312-323
    • Cole, M.A.1    Elliott, R.J.R.2    Shimamoto, K.3
  • 5
    • 0030693848 scopus 로고    scopus 로고
    • Environmental proactivism and firm performance: evidence from security analyst earnings forecasts
    • Cordeiro J.J., Sarkis J. Environmental proactivism and firm performance: evidence from security analyst earnings forecasts. Business Strategy and the Environment 1997, 6(2):104-114.
    • (1997) Business Strategy and the Environment , vol.6 , Issue.2 , pp. 104-114
    • Cordeiro, J.J.1    Sarkis, J.2
  • 6
    • 23444437084 scopus 로고    scopus 로고
    • The impact of environmental performance on firm performance: static and dynamic panel data evidence
    • Elsayed K., Paton D. The impact of environmental performance on firm performance: static and dynamic panel data evidence. Structural Change and Economic Dynamics 2005, 16(3):395-412.
    • (2005) Structural Change and Economic Dynamics , vol.16 , Issue.3 , pp. 395-412
    • Elsayed, K.1    Paton, D.2
  • 7
    • 9344224062 scopus 로고
    • A natural-resource-based view of the firm
    • Hart S.L. A natural-resource-based view of the firm. Academy of Management Review 1995, 20(4):986-1014.
    • (1995) Academy of Management Review , vol.20 , Issue.4 , pp. 986-1014
    • Hart, S.L.1
  • 8
    • 0030478892 scopus 로고    scopus 로고
    • Does it pay to be green? an empirical examination of the relationship between emission reduction and firm performance
    • Hart S.L., Ahuja G. Does it pay to be green? an empirical examination of the relationship between emission reduction and firm performance. Business Strategy and the Environment 1996, 5(1):30-37.
    • (1996) Business Strategy and the Environment , vol.5 , Issue.1 , pp. 30-37
    • Hart, S.L.1    Ahuja, G.2
  • 9
    • 21144468931 scopus 로고
    • Functional form in regression models of Tobin's q
    • Hirsch B.T., Seaks T.G. Functional form in regression models of Tobin's q. Review of Economics and Statistics 1993, 75(2):381-385.
    • (1993) Review of Economics and Statistics , vol.75 , Issue.2 , pp. 381-385
    • Hirsch, B.T.1    Seaks, T.G.2
  • 10
    • 0036475749 scopus 로고    scopus 로고
    • Exploring the locus of profitable pollution reduction
    • King A., Lenox M. Exploring the locus of profitable pollution reduction. Management Science 2002, 48(2):289-299.
    • (2002) Management Science , vol.48 , Issue.2 , pp. 289-299
    • King, A.1    Lenox, M.2
  • 11
    • 0035634411 scopus 로고    scopus 로고
    • Does the market value environmental performance?
    • Konar S., Cohen M.A. Does the market value environmental performance?. Review of Economics and Statistics 2001, 83(2):281-289.
    • (2001) Review of Economics and Statistics , vol.83 , Issue.2 , pp. 281-289
    • Konar, S.1    Cohen, M.A.2
  • 12
    • 0001021595 scopus 로고    scopus 로고
    • In search of pollution havens? dirty industry in the world economy, 1960 to 95
    • Mani M., Wheeler D. In search of pollution havens? dirty industry in the world economy, 1960 to 95. Journal of Environment and Development 1998, 7(3):215-247.
    • (1998) Journal of Environment and Development , vol.7 , Issue.3 , pp. 215-247
    • Mani, M.1    Wheeler, D.2
  • 15
    • 50849104014 scopus 로고    scopus 로고
    • An empirical study on the impact of environmentally-friendly news on stock prices in Japan
    • Nagayama S., Takeda F. An empirical study on the impact of environmentally-friendly news on stock prices in Japan. Global Business and Economics Anthology 2007, 1:129-137.
    • (2007) Global Business and Economics Anthology , vol.1 , pp. 129-137
    • Nagayama, S.1    Takeda, F.2
  • 16
    • 33847280477 scopus 로고    scopus 로고
    • Relationship between environmental performance and financial performance: an empirical analysis of Japanese corporations
    • Nakao Y., Amano A., Matsumura K., Genba K., Nakano M. Relationship between environmental performance and financial performance: an empirical analysis of Japanese corporations. Business Strategy and the Environment 2007, 16(2):106-118.
    • (2007) Business Strategy and the Environment , vol.16 , Issue.2 , pp. 106-118
    • Nakao, Y.1    Amano, A.2    Matsumura, K.3    Genba, K.4    Nakano, M.5
  • 17
    • 79958253632 scopus 로고    scopus 로고
    • Nikkei Digital Media, Tokyo, (online), Nikkei Digital Media
    • Nikkei Digital Media NEEDS Financial Quest 2.0 2010, Nikkei Digital Media, Tokyo, (online).
    • (2010) NEEDS Financial Quest 2.0
  • 18
    • 0001269204 scopus 로고
    • Toward a new conception of the environment-competitiveness relationship
    • Porter M.E., van der Linde C. Toward a new conception of the environment-competitiveness relationship. Journal of Economic Perspectives 1995, 9(4):97-118.
    • (1995) Journal of Economic Perspectives , vol.9 , Issue.4 , pp. 97-118
    • Porter, M.E.1    van der Linde, C.2
  • 19
    • 77950691610 scopus 로고    scopus 로고
    • Does the Porter hypothesis explain expected future financial performance? the effect of clean water regulation on chemical manufacturing firms
    • Rassier D.G., Earnhart D. Does the Porter hypothesis explain expected future financial performance? the effect of clean water regulation on chemical manufacturing firms. Environmental and Resource Economics 2010, 45(3):353-377.
    • (2010) Environmental and Resource Economics , vol.45 , Issue.3 , pp. 353-377
    • Rassier, D.G.1    Earnhart, D.2
  • 20
    • 0031510753 scopus 로고    scopus 로고
    • A resource-based perspective on corporate environmental performance and profitability
    • Russo M.V., Fouts P.A. A resource-based perspective on corporate environmental performance and profitability. Academy of Management Journal 1997, 40(3):534-559.
    • (1997) Academy of Management Journal , vol.40 , Issue.3 , pp. 534-559
    • Russo, M.V.1    Fouts, P.A.2
  • 21
    • 23444455833 scopus 로고    scopus 로고
    • A note on the impact of environmental performance on financial performance
    • Salama A. A note on the impact of environmental performance on financial performance. Structural Change and Economic Dynamics 2005, 16(3):413-421.
    • (2005) Structural Change and Economic Dynamics , vol.16 , Issue.3 , pp. 413-421
    • Salama, A.1
  • 22
    • 0035900280 scopus 로고    scopus 로고
    • An empirical evaluation of environmental efficiencies and firm performance: pollution prevention versus end-of-pipe practice
    • Sarkis J., Cordeiro J.J. An empirical evaluation of environmental efficiencies and firm performance: pollution prevention versus end-of-pipe practice. European Journal of Operational Research 2001, 135(1):102-113.
    • (2001) European Journal of Operational Research , vol.135 , Issue.1 , pp. 102-113
    • Sarkis, J.1    Cordeiro, J.J.2
  • 23
    • 50849127132 scopus 로고    scopus 로고
    • A change in market responses to the environmental management ranking in Japan
    • Takeda F., Tomozawa T. A change in market responses to the environmental management ranking in Japan. Ecological Economics 2008, 67(3):465-472.
    • (2008) Ecological Economics , vol.67 , Issue.3 , pp. 465-472
    • Takeda, F.1    Tomozawa, T.2
  • 28
    • 79958259970 scopus 로고    scopus 로고
    • Toyo Keizai, Tokyo, (in Japanese), Toyo Keizai
    • Toyo Keizai Kabuka (Stock prices) CD-ROM 2010 2010, Toyo Keizai, Tokyo, (in Japanese).
    • (2010) Kabuka (Stock prices) CD-ROM 2010
  • 29
    • 10244228792 scopus 로고    scopus 로고
    • The relationship between the environmental and economic performance of firms: an empirical analysis of the European paper industry
    • Wagner M., Van Phu N., Azomahou T., Wehrmeyer W. The relationship between the environmental and economic performance of firms: an empirical analysis of the European paper industry. Corporate Social Responsibility and Environmental Management 2002, 9(3):133-146.
    • (2002) Corporate Social Responsibility and Environmental Management , vol.9 , Issue.3 , pp. 133-146
    • Wagner, M.1    Van Phu, N.2    Azomahou, T.3    Wehrmeyer, W.4
  • 31
    • 53649094891 scopus 로고    scopus 로고
    • Reexamination of stock price reaction to environmental performance: a GARCH application
    • Yamaguchi K. Reexamination of stock price reaction to environmental performance: a GARCH application. Ecological Economics 2008, 68(1-2):345-352.
    • (2008) Ecological Economics , vol.68 , Issue.1-2 , pp. 345-352
    • Yamaguchi, K.1


* 이 정보는 Elsevier사의 SCOPUS DB에서 KISTI가 분석하여 추출한 것입니다.