CO2 Emissions and Financial Performance of Socially Responsible Firms: An Empirical Survey

被引：45

作者：

Sariannidis, Nikolaos ^{[1
]}

Zafeiriou, Eleni ^{[2
]}

Giannarakis, Grigoris ^{[3
]}

Arabatzis, Garyfallos ^{[4
]}

机构：

[1] Technol Educ Inst Western Macedonia, Dept Financial Applicat, Kila, Kozani, Greece

[2] Democritus Univ Thrace, Dept Agr Dev, Pantazidou, Orestiada, Greece

[3] Univ Aegean, Dept Shipping Trade & Transport, Korai, Chios, Greece

[4] Democritus Univ Thrace, Dept Forestry & Management Environm & Nat Resourc, Pantazidou, Orestiada, Greece

来源：

BUSINESS STRATEGY AND THE ENVIRONMENT | 2013年 / 22卷 / 02期

关键词：

financial performance; GARCH model; environmental performance; CSR firms; ENVIRONMENTAL PERFORMANCE; ENERGY-CONSUMPTION; OIL PRICES; CORPORATE; MANAGEMENT; MARKETS; DETERMINANTS; INVESTMENT; INNOVATION; POLICIES;

D O I：

10.1002/bse.1737

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

A firm's financial performance is closely related to its environmental behavior. This result is valid especially in the case of socially responsible firms. In the present study a data econometric analysis is conducted based on a GARCH model for socially responsible and conventional firms. According to our findings, the performance of socially responsible firms is negatively related to an increase of global CO2 emissions. The firms' costs for implementing environmental policies and the investors' attitude towards the aforementioned firms may account for our results. Copyright (c) 2012 John Wiley & Sons, Ltd and ERP Environment.

引用

页码：109 / 120

页数：12

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