Green Investments – Between Necessity, Fiscal Constraints and Profit

Voica, Marian Cătălin; Panait, Mirela; Rădulescu, Irina Gabriela

doi:10.1016/s2212-5671(15)00228-2

Cited by 46 publications

(18 citation statements)

References 2 publications

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“…In time, the entire world has realized the need to adapt the new policies regarding climatic changes, and started to accepted an environmentally friendly behaviour [81]. Sustainability, green innovation, and investment in no-waste and green initiatives have been proven to promote sustainable economic growth and wealth [82] and represent the most efficient way to elevate a country [83].…”

Section: Concluding Remarks and Policy Implicationsmentioning

confidence: 99%

The Impact of Globalization, Energy Use, and Trade on Ecological Footprint in Pakistan: Does Environmental Sustainability Exist?

Rehman

Rădulescu

et al. 2021

Energies

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Globalization has contributed to several advances in technology including linking people around the globe and driving us to modern economies. With fast economic growth and industrialization progress, the negative impact of globalization on biodiversity can be easily ignored. Globalization is an undeniable factor in our planetary devastation from pollution to global warming and climate change. The major intention of our recent analysis was to examine the globalization, energy consumption, trade, economic growth, and fuel importation to determine the ecological footprint in Pakistan by taking the annual data variables from 1974–2017. A linear ARDL (autoregressive distributed lag) technique with limited information maximum likelihood and linear Gaussian model estimation were utilized to check the variables association. Outcomes show that in the long run, globalization, energy usage, trade, and GDP growth have consistently productive interactions with the ecological footprint, while an examination of fuel importation uncovers an adversative linkage to impacts on the ecological footprint in Pakistan. Similarly, the findings of short-run interactions also reveal that globalization, energy usage, trade, and GDP growth have constructive linkages; however, an examination of fuel importation also uncovers an adversative linkage to impacts on the ecological footprint. The outcomes of limited information maximum likelihood also expose that the variables of globalization, energy usage, trade, and fuel importation have productive linkages, while an examination the GDP growth uncovers an adversative linkage to the ecological footprint. Furthermore, the outcomes of the linear Gaussian model estimation also uncover that globalization and energy usage demonstrate a constructive linkage, while other variables reveal an adverse linkage to the ecological footprint. Environmental pollution is now an emerging issue which causes the climatic variations associated with greenhouse gases emissions. The Pakistani government must adopt new strategies to ensure that CO2 emissions are reduced in order to stimulate economic growth.

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Section: Concluding Remarks and Policy Implicationsmentioning

confidence: 99%

The Impact of Globalization, Energy Use, and Trade on Ecological Footprint in Pakistan: Does Environmental Sustainability Exist?

Rehman

Rădulescu

et al. 2021

Energies

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“…Martin and Moser (2016) regard green investments as a special kind of CSR activity which aims at the reduction of carbon emissions. Voica et al (2015) argue that green investments are fundamentally considered to be the climate resilient or low-carbon investments made by firms in the areas of climate change, renewable energy and clean technologies. Since the definition of green investments varies among researchers, it is important to clarify how the concept is used in this paper.…”

Section: The Definition Of Corporate Green Investmentsmentioning

confidence: 99%

“…First, our study extends green finance and environmental accounting literature by demonstrating the importance of green investment efficiency. Previous literature focuses almost exclusively on green investments (Antonietti & Marzucchi, 2014;Ateş et al, 2012;Bahn et al, 2012;Bostian et al, 2016;Doval & Negulescu, 2014;Eyraud et al, 2013;Inderst, Kaminker, & Stewart, 2012;Karásek & Pavlica, 2016;Kim, 2013;Maggioni & Santangelo, 2017;Schaltenbrand et al, 2016;Song et al, 2017;Voica, Panait, & Radulescu, 2015). Nevertheless, we quantify firm-level green investment efficiency and provide the initial evidence, which suggests the main problem of lowefficiency firms is that managers ignore the efficient allocation and value-creating use of resources in terms of reducing pollutant emissions.…”

Section: Introductionmentioning

confidence: 99%

Do corporate green investments improve environmental performance? Evidence from the perspective of efficiency

Jian

2019

China Journal of Accounting Studies

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By linking green investments to corporate environmental performance from the perspective of efficiency, this paper quantifies and evaluates firm-level green investment efficiency, with SBM-DEA approach and hand-collected emission data of Chinese listed companies in polluting industries. We find that corporate green investment efficiency is overall low, primarily due to excessive green investments, suggesting that managers only invest extensively in environmental dimensions without considering the efficient allocation and value-creating use of limited resources. Further, we conduct the Tobit regression and demonstrate that local environmental enforcement has an inverted U-shaped effect on green investment efficiency of polluting firms. Notably, this effect is only statistically significant in Non-SOEs and small-scale enterprises. Moreover, we document a U-shaped relationship between local environmental enforcement and excessive green investments, and this relationship is also only pronounced in Non-SOEs and small-scale firms. Our findings indicate that local governments should optimize corporate green investment efficiency through differentiated environmental regulation. KEYWORDS Corporate green investment efficiency; green investments; environmental performance; local environmental enforcement; SBM-DEA CONTACT Yutao Chen

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“…In time, the companies have realized they need to adapt to the new climatic changes, and that made them adopt an environmentally friendly behavior and promotion of social responsible strategies [119]. Sustainability, business model innovation and investment in no-waste and green initiatives were proved to promote a sustainable economic growth and wealth [120] and represent the most efficient way to lift up a country [121].…”

Section: Limitations and Future Researchmentioning

confidence: 99%

Harmonization of Green Motives and Green Business Strategies towards Sustainable Development of Hospitality and Tourism Industry: Green Environmental Policies

Yousaf¹,

Rădulescu

Sinisi

et al. 2021

Sustainability

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This study aims to investigate the direct impact of green motives (GM) and green business strategies (GBS) on sustainable development (SD) in the hospitality sector. It explores the direct links between GM and SD. Moreover, the mediating role of GBS between GM and SD was tested. The research relies on the stakeholders’ theory, which states that the organization’s success and future development depends on the satisfaction of stakeholders. Data were collected from 451 top managers and owners from 54 hotels (5, 4 and 3-star hotels) operating in Pakistan. Quantitative analysis including correlation, regression, confirmatory factor analysis and structural equation model techniques were used. The mediating role of GBS was assessed using the bootstrapping method. Results proved that GM and GBS enable hotel industry to achieve the targets of SD. Finding also proved that GBS act as a mediator between the GM and SD link. The hotel industry needs attention to achieve the targets of SD and customers’ inclination towards more hygienic and environmental issues after the worldwide COVID-19 pandemic situation has forced the hotel industry to adapt GBS initiated through GM. The current research articulated this upcoming issue and offered a SD model for the hotel industry.

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Green Investments – Between Necessity, Fiscal Constraints and Profit

Cited by 46 publications

References 2 publications

The Impact of Globalization, Energy Use, and Trade on Ecological Footprint in Pakistan: Does Environmental Sustainability Exist?

The Impact of Globalization, Energy Use, and Trade on Ecological Footprint in Pakistan: Does Environmental Sustainability Exist?

Do corporate green investments improve environmental performance? Evidence from the perspective of efficiency

Harmonization of Green Motives and Green Business Strategies towards Sustainable Development of Hospitality and Tourism Industry: Green Environmental Policies

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