Relation between Environmental Impact and Financial Structure of Cement Industry

Engin Demirel and Lknur Eskin
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Engin Demirel: Faculty of Economics and Administrative Sciences, Trakya University, Balkan Campus, Edirne 22030, Turkey
Lknur Eskin: Uzunk pr School of Applied Sciences, Trakya University, Uzunkopru Campus, Edirne 22300, Turkey

International Journal of Energy Economics and Policy, 2017, vol. 7, issue 1, 129-134

Abstract: This study aims to investigate financial structure of cement firms, which facing environmental regulations and impacts. In this study financial ratio of 16 cement firms that are listed in Istanbul stock exchange analyzed for the years 2011-2013. The key concept of this research is related to which debt ratios and financial structure are mainly affected by environmental data at cement firms on an emerging market. We developed two equations in order to analyze the relation between environment and financial structure. We found that there is a significant relation on emission levels while there is no significant relation on carbon dioxide levels with financial ratios. Sales, gross profit margins, current ratios have positive impact on industry emission levels. Moreover, earnings before interest and tax, liquidity ratio, financial leverage ratio and accounts receivable turnover ratios have negative impact on industry emission levels.

Keywords: Cement Industry; Environmental Impact; Financial Ratio; Panel Data Models (search for similar items in EconPapers)
JEL-codes: C23 G30 L61 (search for similar items in EconPapers)
Date: 2017
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Citations: View citations in EconPapers (2)

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Persistent link: https://EconPapers.repec.org/RePEc:eco:journ2:2017-01-14

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