2019
DOI: 10.1016/j.eneco.2019.01.028
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Eco-friendly policies and financial performance: Was the financial crisis a game changer for large US companies?

Abstract: We gratefully appreciate all the comments received by two anonymous referees. We apologize for not mentioning the name of each of the seminar participants who helped us improve the paper. I am entirely liable for any mistakes that this document may contain.

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Cited by 76 publications
(47 citation statements)
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References 16 publications
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“…The other thing from the results of this test is that financial performance has a significant positive effect on environmental disclosure because the coefficient value is positive and the value is significant <0.05 so that the second hypothesis related to financial performance that is positively influenced by environmental disclosure is accepted. These results are in line with research conducted by Danso (2019), Liu (2020), Tzouvanas (2019) and Petitjean (2019) where environmental performance is positively related to financial performance (Danso et al, 2019;Liu, 2020;Petitjean, 2019;Tzouvanas et al, 2019). Companies that care about the environment will get financial added value for a company, and it is a positive signal for investors in considering decision making so that it can provide positive values that will increase company profitability which is a measure of corporate financial performance (Danso et al, 2019).…”
Section: Discussionsupporting
confidence: 87%
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“…The other thing from the results of this test is that financial performance has a significant positive effect on environmental disclosure because the coefficient value is positive and the value is significant <0.05 so that the second hypothesis related to financial performance that is positively influenced by environmental disclosure is accepted. These results are in line with research conducted by Danso (2019), Liu (2020), Tzouvanas (2019) and Petitjean (2019) where environmental performance is positively related to financial performance (Danso et al, 2019;Liu, 2020;Petitjean, 2019;Tzouvanas et al, 2019). Companies that care about the environment will get financial added value for a company, and it is a positive signal for investors in considering decision making so that it can provide positive values that will increase company profitability which is a measure of corporate financial performance (Danso et al, 2019).…”
Section: Discussionsupporting
confidence: 87%
“…The results of research by Liu (2020) and Tzouvanas (2019) show that financial performance is positively influenced by environmental performance (Liu, 2020;Tzouvanas et al, 2019). In addition, the influence of leadership integration (Danso et al, 2019) will improve environmental performance which in turn will improve financial performance especially during crises (Petitjean, 2019). Based on the description, the first hypothesis to be tested is H1 = Financial performance is positively influenced by environmental performance.…”
Section: Hypothesis Developmentmentioning
confidence: 99%
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“…Financial performance research results indicate factors related to financial performance including CSR (Franco et al, 2019;Jahmane & Gaies, 2020;Rhou et al, 2016;Theodoulidis et al, 2017), CSP (Esteban-Sanchez et al, 2017;H. Wang et al, 2016), environment (Liu, 2020;Lucato et al, 2017;Petitjean, 2019;Tzouvanas, Kizys, Chatziantoniou, & Sagitova, 2019), digital business strategies (Ukko, Nasiri, Saunila, & Rantala, 2019), organizational and stakeholder regulation (Baah, Jin, & Tang, 2020), networking and innovation (Etriya, Scholten, Wubben, & Omta, 2019), agency cost (Gan, Park, & Suh, 2020), corporate governance (Alahdal, Alsamhi, Tabash, & Farhan, 2020), energy efficiency (Moon & Min, 2020), family involvement (Hansen & Block, 2020), and the disclosure of information contributions (S. Wang, Wang, Wang, & Yang, 2020). Based on previous research relating to financial performance, factors related to financial performance and still interesting to study are the environment and agency costs.…”
Section: Introductionmentioning
confidence: 99%