One thing that should be considered in environmental considerations and climate change is the transportation sector’s contribution to producing carbon dioxide. Unfortunately, in developing countries such as Iran, due to high tariff support, manufacturers have no incentive to improve the combustion quality of their products. Most likely, significant restrictions on CO2 emissions will be applied in the coming years, and companies whose activities or products are related to high-level greenhouse gas emissions will be affected by these restrictions. Therefore, due to the application of these restrictions, investors are most concerned about the risk associated with the return of purchased shares. Considering these cases, it can be expected that the risk related to carbon emissions will be reflected in the yield level and, thus, the stock price. Therefore, the present study deals with the effect of CO2 gas emissions on the market value, price and stock returns of Iranian automobile companies. The data collected as tabular data include six automobile companies from 2018–2019. By conducting various tests and panel data estimations, especially the dynamic panel data method, it was determined that CO2 emissions reduce stock prices, returns and market value of automobile companies. In addition, the results of the causality test indicate that the direction of causality is only from CO2 emissions to stock returns.

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Purpose -The purpose of this paper is to assess the degree of process approach implementation in the businesses studied and to identify the major motives behind the actions undertaken in the scope of reorientation towards processes. Design/methodology/approach -The paper provides a discussion on the results of empirical research conducted in the year 2015 in 100 companies by means of the CATI system. The research comprised assessment of the process approach implementation in Polish enterprises which had deployed a quality management system (QSM). Specific motives providing grounds for process approach implementation in the organisations examined were also analysed. The results thus obtained were verified with reference to previous studies conducted in the field in question; they were statistically validated and then critically analysed, all in order to draw final conclusions. Findings -It was observed that the evolution of experience of Polish entrepreneurs in the area of process management affects the growing number of organisations evaluating themselves as highly advanced in terms of process approach implementation, and at the same time, the number of companies classified as representing an intermediate level is dropping. Assessment of the extent of advancement of process approach implementation suggests that processes are measured in most businesses studied, but it also implies certain problems with process management. It was established that improvement of business credibility and deployment of the QSM were the most significant reasons motivating companies to implement the process approach. Practical implications -Individual practical aspects are associated with the barriers identified and the solutions proposed to remove them. Such recommendations may be used by persons responsible for the implementation or improvement of the process approach in an enterprise. Originality/value -The research addressed in the paper is not the first study of the process approach implementation level in Polish enterprises, but it followed the steps of other authors and the discourse they initiated. The research results provided in the paper are the most recent ones and reflect the latest trends. At the same time, the conclusions drawn may provide grounds for further scientific studies in this field.