Environmental projects and financial performance: Exploring the impact of project characteristics

The effect of environmental performance and preference disclosure on financial performance: Empirical evidence from unbalanced panel data of heavy-pollution industries in China

“…Environmental responsibility activists argue that greater environmental performance can attract more institutional investors, incline environmental cost and political risk cost etc, and then improve corporate financial performance (Orlitzky, Schmidt & Rynes, 2003;Salama, 2005;Montabon, Sroufe & Narasimhan, 2007;Lucas & Wilson, 2008;Wahba, 2008). Strictly environmental regulation policies compel corporate managers to carry out environmental management practices, to promote green environmental-protection investment and management innovation, those environmental policies effectively improve corporate financial performance and meet -22-Journal of Industrial Engineering and Management -http://dx.doi.org/10.3926/jiem.1240 stakeholders environmental interests demand (Nakao, Amano, Matsumura, Genba & Nakano, 2007;Monevan & Ortas, 2010;Sueyoshi & Goto, 2010;Rassier & Earnhart, 2011;Thoumy & Vachon, 2012). Resource and management efficiency theory advocates that environmental pollution denote lower social resource usage, strictly environmental regulation and environmental information mechanism motivate corporate to improve environment-protection technology progress and environmental management innovation, those policies may promote corporate social images, strengthen institutional investors confidence, effectively capture market opportunity and then increase resource usage efficiency.…”

Environmental management practices, environmental technology portfolio, and environmental commitment: A content analytic approach for UK manufacturing firms

“…For example, there is a significant body of literature that explores how a firm can use EMP or ETP to improve its financial and environmental performance (e.g. Hofer, Cantor and Dai, 2012;Montabon et al, 2007;Thoumy and Vachon, 2012). The findings show that there is a "win-win" situation for firms that adopt a certain set of EMPs and ETPs to improve performance.…”

“…However, literature refutes such assumptions. For instance, Thoumy and Vachon (2012) find that green projects that involve less intensive procedural changes (infrastructural) are more beneficial than those projects that require extensive changes (structural). Therefore, even highly committed firms may be sceptical before adopting EMPs or targeting ETPs that require significant investment in terms of resources and managerial effort.…”

The Influence of Green External Integration on Firm Performance: Does Firm Size Matter?

“…As indicated by OC, large and medium firms will be more capable of integrating leading customers into their environmental activities, because customers are more willing to do business with large firms [24,25]. On the other hand, small firms may be unable to convince leading customers to involve themselves in their environmental activities due to their low brand awareness [26,27].…”

“…These capabilities include general routines that enhance inter-functional coordination, as well as firm-specific processes that aid in facilitating communication [4,17]. It is easier for large firms to internalize and transfer what they have learnt from customers [24,25], while small firms may lack the resources, skills and capabilities that facilitate the effective transmission of green information and knowledge gained from green customer integration [29,30]. Moreover, small firms are less likely to hire experienced specialists who directly manage environmental issues and green customer integration activities, and are less likely to invest in and develop skills in managing inter-organizational partnerships [27].…”