Is there a Connection among Environmental and Financial Performance of a Company in Developing Countries? Evidence from Romania.

Pintea, Mirela-Oana; Stanca, Liana; Achim, Sorin-Adrian; Pop, Ioana

doi:10.1016/s2212-5671(14)00527-9

Cited by 24 publications

(17 citation statements)

References 37 publications

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“…Although the topic of sustainable growth peaks the interest of the economic medium, the transparency level of Romanian companies is still low [69]. The studies conducted by the specialty literature also reached the same conclusion: the majority of environmental information provided by firms in Romania is incomplete and irrelevant [70,71] and fails to identify a significant connection between financial and environmental performance [72,73], the tendency being to publish solely positive aspects that could constitute a competitive advantage or a means to improve the company's image [74].…”

Section: Integrated Reporting In Romaniamentioning

confidence: 99%

Is Sustainability Reporting a Business Strategy for Firm’s Growth? Empirical Study on the Romanian Capital Market

et al. 2019

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This study analyzed the impact of sustainability reporting on firms' growth as a result of adopting an environmentally and socially responsible behavior. The information published by companies listed on the main section of the Bucharest Stock Exchange during a period spanning six financial years (2012-2017) was used to assess the influence exerted by the conduct of activities related to sustainability; the integrated reporting of economic, social and environmental protection information; and the quality of published reports on certain indicators relevant to appreciating a firm's growth (price-to-book ratio, sales growth and cost of capital). The results obtained indicate a low influence of sustainable reporting on a firm's growth indicators. Current and potential investors, lenders and business partners interpret sustainability reporting as insufficiently documented and as having a low capacity for integration within the decision-making process. However, significant dependency relationships were identified, and particularized on various connections without following a correlation pattern between a firm's growth directions and the indicators of sustainability reporting. The results remain robust even after the introduction of certain control variables, such as sustainability sensitive industry sectors, company size and age, or increase of investments. Our paper sets out to contribute to expanding the specialty literature by highlighting the involvement of sustainable reporting as a factor in optimizing firms' growth strategies and, at a methodological level, by using a quantile regression.

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Section: Integrated Reporting In Romaniamentioning

confidence: 99%

Is Sustainability Reporting a Business Strategy for Firm’s Growth? Empirical Study on the Romanian Capital Market

et al. 2019

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“…Environmental problems are often extremely complex and this is widely recognised as a multidimensional problem. While previous research focused mainly on environmental performance, including CO 2 emissions (Fujii et al 2013) (Pintea et al 2014) (Misani and Pogutz 2015), GHG emissions (Hatakeda et al 2012), environmental disclosure (Cong and Freedman 2011) and environmental management (Busch and Hoffmann 2011) (Uhlaner et al 2012) (Tao and Zhang 2014), the focus of this study is on firms' environmental governance.…”

Section: Variable Measurementmentioning

confidence: 99%

The Effect of Board Roles on Firm Environmental Governance

Shahgholian

2017

Proceedings

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In recent years much attention has been paid to firms' environmental profile. Implementing and improving firm's environmental profile are twofold. First, launching the environmental governance is a foundation for firm's environmental profile. Second, the characteristics of board of directors directly affect the decisions made by board on all firm's performance. Drawing on the resourcedependence theory and agency theory, board characteristics represent board resource-provision role and board monitoring role.This paper aims to understand how the board monitoring and board resource-provision roles influence firm's environmental governance for 267 US firms from 2010 to 2012. The findings confirm that effective boards increase their monitoring of management when there are more independent directors on the board, higher CEO-chairman duality, higher share ownership for insiders and the CEO and finally lower share ownership for outsider-directors. Boards with strong social network connections, larger board size and lower board tenure are classified as resource-rich boards. The results also confirm that resource-rich boards with effective monitoring roles tend to have a board, or a committee appointed by the board that is responsible for environmental initiatives, paying incentives for the management of climate change issues, publishing information in annual reports, voluntary communications and other regulatory filings.

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“…This is changing, as there is also a growing body of green marketing research within Asian economies (Wang, Cui and Liang, 2015;Polonsky et al, 2014;Du, 2012) as well as work in other developing countries (Mishra and Sharma, 2010;Pintea, Stanca, Achim and Po, 2014;Gupta and Goldar, 2005). This global examination is essential for preserving the natural environment, for unless firms in developing countries learn how to proactively integrate environmental issues into their strategy, long term sustainability will not be achieved, preventing firms contributing to solving social and environmental issues (Achrol and Kotler 2012;Crilly, Zollo and Hansen, 2012;Zollo, Cennamo and Neumann 2013).…”

Section: Literature Reviewmentioning

confidence: 99%

Enviropreneurial marketing in greening corporate activities

Song-Turner

Polonsky

2016

EBR

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Purpose The purpose of this study is to explore the enviropreneurial marketing approach used by firms in China and its impact on the success of green marketing actions, with the aim of drawing useful lessons from the literature and successful green firms. Design/methodology/approach This study follows the inductive case study approach, and the qualitative data come from a study of four firms engaging in enviropreneurial marketing activities. Interview data were triangulated with qualitative data from other sources. Findings The evidence from this study indicates that enviropreneurial marketing plays a central role in developing innovative product or services, adopting an innovative and pragmatic green marketing mix that differentiates and creates changes within industry and markets. Research limitations/implications The main limitation of this study is that data samples are from successful firms labelled as “green” by the Chinese authorities, based on winning “official” awards. These do not necessarily represent the opinions of a cross section of firms within China with respect to enviropreneurial marketing. Future studies should include a mixed population of firms. Practical implications Policy makers and marketing practitioners need to consider drivers to ensure that Chinese firms integrate enviropreneurial marketing activities, which need to complement the delivery of functional value. Social implications Green initiatives/changes within the firm seem to be partly driven by the environmental orientation of these firms’ founders, thus, developing an environmental orientation in managers may be important to drive enviropreneurial marketing activities. Originality/value This study contributes by confirming the current literature on green marketing and examining the positive impact of enviropreneurial marketing on firms’ performance in the context of marketing in emerging markets.

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Is there a Connection among Environmental and Financial Performance of a Company in Developing Countries? Evidence from Romania.

Cited by 24 publications

References 37 publications

Is Sustainability Reporting a Business Strategy for Firm’s Growth? Empirical Study on the Romanian Capital Market

Is Sustainability Reporting a Business Strategy for Firm’s Growth? Empirical Study on the Romanian Capital Market

The Effect of Board Roles on Firm Environmental Governance

Enviropreneurial marketing in greening corporate activities

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