Energy efficiency and company performance in Japanese listed companies

Rayenda Brahmana and Hiroya Ono

International Journal of Energy Technology and Policy, 2020, vol. 16, issue 1, 24-40

Abstract: This research empirically investigates the relationship between energy efficiency and company performance for a pooled sample of 177 listed companies in Japan over 2005-2014. We find that energy efficiency plays a significant role in company performance in Japan, thereby debunking the energy efficiency paradox. Our research further indicates that this energy efficiency not only affects the market-based performance (Tobin's Q), but it also significantly impacts the accounting-book performance (return on assets). The findings present significant contributions to both the academic body of knowledge and the industry. The findings can also provide a basis for the Japanese Government to encourage companies to enact more energy efficient practices.

Keywords: energy efficiency; company performance; Tobin's Q; return on asset; ROA; Japan. (search for similar items in EconPapers)
Date: 2020
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Citations: View citations in EconPapers (5)

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