Does environmental CSR performance matter for corporate financial performance? Evidence from panel quantile regression

Younes Ben Zaied () and Béchir Ben Lahouel
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Younes Ben Zaied: EDC Paris Business School

Economics Bulletin, 2021, vol. 41, issue 3, 938-951

Abstract: The paper re-investigates the relationship between European firms' Environmental performance and their financial performance using a robust fixed effect panel quantile regression. We used data describing 303 European firms covering the period 2005-2017. We demonstrate that the influence of corporate green investment on financial performance takes different effects along the quantiles. Green investment might affect negatively corporate financial performance only for large quantiles of financial performance (75% and 90%). However, for lower quantile, green investment is likely to increase firms' financial performance.

Keywords: Environmental CSR; Financial performance; quantile regression; European firms (search for similar items in EconPapers)
JEL-codes: C4 Q5 (search for similar items in EconPapers)
Date: 2021-07-18
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