Being green as an instrument for increasing firm value: case of US transport and logistics companies

Angi E. Skhvediani, Svetlana S. Gutman, Maria A. Rodionova and Julia A. Perfilova

International Journal of Logistics Systems and Management, 2024, vol. 47, issue 1, 105-124

Abstract: The article investigates the factors that affect the corporate value (Tobin's Q) of 57 US logistics companies. The research considers financial indicators such as ROI, ROTE, P/E ratio, company's operating efficiency, financial leverage, EPS and net income suggestive of a firm's earning capacity and a non-financial dummy variable 'green' which indicates whether a particular logistics company implements green practices and technologies in its operations. The results of the research indicate that there is a positive and significant relationship between Tobin's Q and P/E ratio, ROA and a green indicator. A negative and significant relationship was found between Tobin's Q and ROI and EPS. Also, the article investigated individual interaction effects with the 'green' variable and other financial indicators. The results indicate a negative and significant relationship between Tobin's Q and value of ROTE and EPS of green logistics companies.

Keywords: green logistics; firm value; sustainable logistics; environment. (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:ids:ijlsma:v:47:y:2024:i:1:p:105-124

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