TY - JOUR
T1 - NEXUS of CORPORATE ENVIRONMENTAL STRATEGY, ENVIRONMENTAL PERFORMANCE, and FINANCIAL PERFORMANCE
AU - Aslam, Shoaib
AU - Rehman, Ramiz U.R.
AU - Naeem, Muhammad Abubakr
AU - Taghizadeh-Hesary, Farhad
N1 - Publisher Copyright:
© 2022 World Scientific Publishing Company.
PY - 2022
Y1 - 2022
N2 - The interrelationships among environmental strategy, environmental performance and financial performance have become a subject of ongoing debate. This study investigates the association between environmental strategies and environmental performance by utilizing the generalized method of moments technique to analyze a dataset of listed firms from 2007 to 2018. From a neo-institutional theory perspective, the findings are four-fold. First, environmental strategies are negatively correlated with financial performance. Second, the environmental performance has inversed relationship with financial performance. Third, there is a significant and positive association between the adoption of environmental management practice and environmental performance. Finally, the environmental expenditure-environmental management practice nexus is positively moderated by environmental audits.
AB - The interrelationships among environmental strategy, environmental performance and financial performance have become a subject of ongoing debate. This study investigates the association between environmental strategies and environmental performance by utilizing the generalized method of moments technique to analyze a dataset of listed firms from 2007 to 2018. From a neo-institutional theory perspective, the findings are four-fold. First, environmental strategies are negatively correlated with financial performance. Second, the environmental performance has inversed relationship with financial performance. Third, there is a significant and positive association between the adoption of environmental management practice and environmental performance. Finally, the environmental expenditure-environmental management practice nexus is positively moderated by environmental audits.
KW - environmental audit
KW - Environmental strategy
KW - financial performance
KW - neo-institutional theory
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U2 - 10.1142/S0217590822500291
DO - 10.1142/S0217590822500291
M3 - Article
AN - SCOPUS:85131955736
SN - 0217-5908
JO - Singapore Economic Review
JF - Singapore Economic Review
ER -