Does Water, Waste, and Energy Consumption Influence Firm Performance? Panel Data Evidence from S&P 500 Information Technology Sector

Liliana Nicoleta Simionescu, Ştefan Gherghina, Ziad Sheikha and Hiba Tawil
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Liliana Nicoleta Simionescu: Department of Finance, Bucharest University of Economic Studies, 010374 Bucharest, Romania
Ziad Sheikha: Department of Finance, Bucharest University of Economic Studies, 010374 Bucharest, Romania
Hiba Tawil: Department of Finance, Bucharest University of Economic Studies, 010374 Bucharest, Romania

IJERPH, 2020, vol. 17, issue 14, 1-31

Abstract: This paper aimed to investigate the impact of water, waste, and energy consumption on firm performance for a sample of enterprises that belong to the S&P 500 Information Technology sector over the period of 2009–2020. The quantitative framework covered both accounting (e.g., return on assets—ROA; return on common equity—ROE; return on capital—ROC; return on invested capital—ROIC) and market-based measures of performance (e.g., price-to-book value—PB), alongside firm and corporate governance specific variables. By estimating multivariate panel data regression models, the empirical results provided support for a negative impact of total water use on PB but a positive effect on ROA. With reference to the total waste, the econometric outcomes revealed a negative influence on the entire selected performance measures, whereas total energy consumption did not reveal any statistically significant influence.

Keywords: water; waste; energy; panel data (search for similar items in EconPapers)
JEL-codes: I I1 I3 Q Q5 (search for similar items in EconPapers)
Date: 2020
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:gam:jijerp:v:17:y:2020:i:14:p:5206-:d:386600

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