Linking Environmental and Financial Performance for Privately Owned Firms: Some Evidence from Australia

Wei Qian and Ke Xing

Journal of Small Business Management, 2018, vol. 56, issue 2, 330-347

Abstract: The debate over whether the “green” strategy pays off has been centered overwhelmingly within large public firms. It remains unclear whether “being green” matters to smaller firms such as privately owned or family controlled firms, which are equally heavy polluters but subject to much less public scrutiny. Using a sample of 138 private companies registered in the Australian National Greenhouse and Energy Reporting database over the 2009–2013 period, this study finds that embracing environmental/carbon responsibility has helped these companies gain higher financial returns. However, reducing carbon emissions has not paid off for environmentally sensitive firms, although lowering energy consumption is evidenced to be value creation.

Date: 2018
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DOI: 10.1111/jsbm.12261

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