CO2 Emissions and Financial Performance of Socially Responsible Firms: An Empirical Survey. (7th December 2012)

• Record Type: Journal Article
• Authors: Sariannidis, Nikolaos; Zafeiriou, Eleni; Giannarakis, Grigoris; Arabatzis, Garyfallos
• Is Part Of: Business strategy and the environment. Volume 22:Number 2(2013)
• Page Start: 109
• Page End: 120
• Publication Date: 2012-12-07
• Subjects: Industrial management -- Environmental aspects -- Periodicals; Industries -- Environmental aspects -- Periodicals; 658.4083
• DOI: 10.1002/bse.1737
• Languages: English
• ISSNs: 0964-4733

Abstract

<abstract abstract-type="main"> <title>ABSTRACT</title> <p>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 © 2012 John Wiley &amp; Sons, Ltd and ERP Environment.</p> </abstract>