The curvilinear relationship between environmental performance and financial performance: An investigation of listed french firms using panel smooth transition model

Does Water, Waste, and Energy Consumption Influence Firm Performance? Panel Data Evidence from S&P 500 Information Technology Sector

“…Hence, corporations should undergo extra actions that increase cost but generate no value for clients. Additionally, Lahouel, Bruna, and Zaied [ 77 ] argued that greater ecological regulations and severe national environmental guidelines adversely influence companies’ performance by involving supplementary, irredeemable charges.…”

“…The selected variables are described in Table 4 . Consistent with earlier research, in order to measure firm performance, the quantitative investigation comprised both accounting measures—such as return on assets [ 2 , 19 , 20 , 25 , 26 , 30 , 32 , 33 , 34 , 35 , 39 , 41 , 77 , 78 , 85 , 86 , 87 , 88 , 99 , 100 , 101 ], return on common equity [ 19 , 20 , 25 , 30 , 32 , 33 , 39 , 42 , 44 , 86 , 99 ], return on capital [ 19 , 20 ], and return on invested capital [ 25 ]—and market-based measures of performance like price-to-book value [ 34 ]. Additionally, several measures of firm characteristics were included in order to counteract any bias and error that may have distorted the association among selected variables [ 41 ].…”

“…Corporate liquidity measures are covered driven by that fact that enterprises that suffer from a low liquidity level may attempt to lifting their disclosure level of the CSR and voluntary actions [ 102 ]. In line with earlier research [ 13 , 24 , 26 , 29 , 31 , 33 , 34 , 36 , 38 , 41 , 42 , 43 , 77 , 84 , 86 , 88 , 90 , 99 , 100 , 101 ], indebtedness was included here because of the fact that a minor financial risk motivates an enterprise to implement technical innovation because it is convenient to persuade lenders and attract capital [ 18 ]. Fakoya [ 41 ] noticed that indebtedness measures the amount that a firm is funded by debt capital and shows the level to which external resources finance ecological investments.…”

“…Like prior studies [ 3 , 13 , 20 , 24 , 25 , 26 , 27 , 30 , 31 , 33 , 35 , 39 , 42 , 44 , 46 , 77 , 78 , 79 , 83 , 85 , 90 , 91 , 99 , 100 , 101 ], firm size was included since large companies generally register a superior profit level compared with small corporations [ 20 ]. Larger firms are supposed to invest more in ecologically responsive machineries, as they are expected to have more funds and because they accept higher litigation risks [ 79 ].…”

Environmental performance and firm financing during COVID-19 outbreaks: Evidence from SMEs

“…The performance of firms with respect to corporate social responsibility (CSR) has been a topic of interest for both researchers and policymakers (see Bruna and Nicolò, 2020 ; Lahouel et al., 2020 ). In particular, the environmental performance of firms is one of the vital factors that affect lending decisions ( Wellalage and Kumar, 2021 ) and conditions of lending ( Goss and Roberts, 2011 ).…”