Do environmental and energy expenditures pay off? Evidence on firm-level productivity in Romania

Alexandra-Anca Purcel
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Alexandra-Anca Purcel: Universitatea Babeș-Bolyai

Carpathian Stata Conference 2026 from Stata Users Group

Abstract: This study explores the effect of environmental protection effort, both the adoption and the size of environmental protection expenditure, as well as the energy dependence on total factor productivity (TFP) at the firm level. To this end, I focus on an extended sample of Romanian firms observed during the period 2020–2023. The results, consistent across different specifications, indicate that firms engaged in environmental protection activities have, on average, higher TFP than similar firms but that environmental protection expenditures induce additional costs, negatively influencing TFP. Moreover, energy intensity has a positive and significant effect on TFP. Overall, these findings provide important insights into the relationship between these indicators at the firm level and may lead to the development and improvement of more tailored associated policies.

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Persistent link: https://EconPapers.repec.org/RePEc:boc:carp26:09

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