Corporate Environmental Responsibility and Financial Performance

Panagiotis Dimitropoulos () and Konstantinos Koronios ()
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Panagiotis Dimitropoulos: University of Peloponnese
Konstantinos Koronios: University of Peloponnese

Chapter Chapter 5 in Corporate Environmental Responsibility, Accounting and Corporate Finance in the EU, 2021, pp 91-112 from Springer

Abstract: Abstract The scope of this chapter is to examine the impact of CER related activities on their financial performance taking into consideration potential endogeneity between the examined factors and their bidirectional association, evidenced by previous studies on the field. We respond to the call for more research on the topic by covering a large multi-country sample of listed and unlisted European firms over a long period of time and also by considering the bidirectional association between CER and CFP. Empirical analysis suggested that CER generates competitive resources leading to competitive advantages and enhanced financial performance. Also, the specification of our empirical design verifies the bidirectional association between CER and CFP.

Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:spr:csrchp:978-3-030-72773-4_5

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DOI: 10.1007/978-3-030-72773-4_5

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