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The Value Relevance Of Environmental Performance
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Book Synopsis The Value Relevance of Environmental Performance by : Lars G. Hassel
Download or read book The Value Relevance of Environmental Performance written by Lars G. Hassel and published by . This book was released on 2005 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper provides insight into how environmental information is reflected in the market value of listed Swedish companies. Using the residual income valuation model, we express market value of equity as a function of book value of equity, accounting earnings, and environmental performance, where the last variable is used as a proxy for other value-relevant information. Our research is motivated by the recommendation of the Swedish Society of Financial Analysts regarding environmental reporting. This recommendation assumes that environmental information has value relevance, since it is likely to affect the expected future earnings of listed companies. We contribute empirical findings to current debate on the relationship between environmental performance and shareholder value. The cost-concerned school argues that environmental investments represent only increased costs, resulting in decreased earnings and lower market values. The value creation school regards environmental efforts as a way to increase competitive advantage and improve financial returns to the investors. The current research finds support for the cost-concerned school, because the results indicate that environmental performance has a negative influence on the market value of firms.
Book Synopsis The Valuation Relevance of Environmental Performance Revisited by : Diogenis Baboukardos
Download or read book The Valuation Relevance of Environmental Performance Revisited written by Diogenis Baboukardos and published by . This book was released on 2018 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This study attempts to broaden our understanding of the value relevance of environmental performance by providing empirical evidence on the moderating role of financial environmental reporting. Previous studies find that firms' environmental performance can be both positively and negatively associated with market value. Such contradictory findings can be attributed to the fact that environmental performance is associated with future economic benefits and costs. This study suggests that firms with recognized environmental provisions on their balance sheets enable investors to disentangle these opposite effects either by signaling strong future financial performance or by enhancing the reliability of environmental performance information. Regardless of the mechanism by which this moderation effect is invoked, it is hypothesized that capital market participants place a positive and significantly higher value on the environmental performance ratings of firms with recognized environmental provisions than on the ratings of firms without environmental provisions. Utilizing a sample of 692 firm-year observations of French listed firms and employing a linear price-level model that associates the market value of a firm's equity with its environmental performance, I provide empirical evidence to corroborate this thesis. In addition to contributing to the academic debate on the market valuation implications of environmental performance, this study intends to provide useful insights from a country that can be considered a pioneer of environmental reporting legislation; hence, it provides valuable lessons for other jurisdictions that are in the process of developing their sustainability reporting regulations. Finally, the findings of this study support the calls for more integrated reporting showing that the interaction of financial and non-financial information has market valuation implications.
Author :Mikael Runsten Publisher :Stockholm School of Economics Efi Economic Research Institut ISBN 13 :9789172584891 Total Pages :363 pages Book Rating :4.5/5 (848 download)
Book Synopsis The Association Between Accounting Information and Stock Prices by : Mikael Runsten
Download or read book The Association Between Accounting Information and Stock Prices written by Mikael Runsten and published by Stockholm School of Economics Efi Economic Research Institut. This book was released on 1998-01-01 with total page 363 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Essays on the Value Relevance of Environmental and Social Performance by : Natalia N. Semenova
Download or read book Essays on the Value Relevance of Environmental and Social Performance written by Natalia N. Semenova and published by . This book was released on 2011 with total page 139 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Theory and Measurement of Business Income by : Edgar O. Edwards
Download or read book The Theory and Measurement of Business Income written by Edgar O. Edwards and published by Univ of California Press. This book was released on 1973 with total page 344 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Environment 2012 written by and published by . This book was released on 2012 with total page 194 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Transportation Research Record: Journal of the Transportation Research Board, No. 2270 consists of 22 papers that explore laboratory tests of tire-pavement noise for hot mix asphalt, temperature effects on onboard sound intensity measurement of tire-pavement noise, annoyance of traffic noise on roads and rail, alternative uses of highway rights-of-way, wildlife crossing structures location and design, use of MOVES and AERMOD emissions models for conformity analysis, generating heavy-duty truck activity data for MOVES emissions model, and exposure of bicyclists to air pollution. This issue of the TRR also examines engine idling emissions from nonroad diesel construction equipment; air quality at bus stops; modeling roadway link PM2.5 emissions; environmentally conscious design of crest vertical curves; carbon footprint of dedicated truck lanes on I-70; predictive ecocruise control system; analysis of intersection emissions with MOVES emissions model; vehicle emissions estimates using traffic microsimulation models; inclusion of regional transit emissions in local greenhouse gas inventories; in-vehicle exposure to traffic-induced emissions; environment-responsive traffic control impact on roadside particulate matter and nitrogen oxides; decomposition analysis for carbon dioxide emissions from car travel; duty cycles, fuels, and emission control technologies of heavy-duty trucks; and quantitative decision-making framework for evaluating environmental commitment tracking systems"--Pub. desc.
Book Synopsis Life Cycle Management by : Guido Sonnemann
Download or read book Life Cycle Management written by Guido Sonnemann and published by Springer. This book was released on 2015-07-16 with total page 352 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides insight into the Life Cycle Management (LCM) concept and the progress in its implementation. LCM is a management concept applied in industrial and service sectors to improve products and services, while enhancing the overall sustainability performance of business and its value chains. In this regard, LCM is an opportunity to differentiate through sustainability performance on the market place, working with all departments of a company such as research and development, procurement and marketing, and to enhance the collaboration with stakeholders along a company’s value chain. LCM is used beyond short-term business success and aims at long-term achievements by minimizing environmental and socio-economic burden, while maximizing economic and social value.
Book Synopsis Economics of Corporate Social Responsibility by : Abagail McWilliams
Download or read book Economics of Corporate Social Responsibility written by Abagail McWilliams and published by Edward Elgar Publishing. This book was released on 2014 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: In recent years, increasing numbers of articles and studies have emerged across the disciplines of economics, accounting, finance and management to examine the importance of considering both the private and social economic benefits of Corporate Social Responsibility (CSR). As stakeholders and their concerns have multiplied, and empirical evidence has accumulated, CSR has become a critical area of interest. This authoritative collection examines the five related and most significant elements of this subject - theoretical perspectives, firm financial performance, socially responsible investing, environmental performance and strategic CSR - to provide a comprehensive exploration of the literature on Corporate Social Responsibility and its economic consequences.
Author :National Academy of Engineering and National Research Council Publisher :National Academies Press ISBN 13 :0309173000 Total Pages :264 pages Book Rating :4.3/5 (91 download)
Book Synopsis Industrial Environmental Performance Metrics by : National Academy of Engineering and National Research Council
Download or read book Industrial Environmental Performance Metrics written by National Academy of Engineering and National Research Council and published by National Academies Press. This book was released on 1999-08-24 with total page 264 pages. Available in PDF, EPUB and Kindle. Book excerpt: Industrial Environmental Performance Metrics is a corporate-focused analysis that brings clarity and practicality to the complex issues of environmental metrics in industry. The book examines the metrics implications to businesses as their responsibilities expand beyond the factory gateâ€"upstream to suppliers and downstream to products and services. It examines implications that arise from greater demand for comparability of metrics among businesses by the investment community and environmental interest groups. The controversy over what sustainable development means for businesses is also addressed. Industrial Environmental Performance Metrics identifies the most useful metrics based on case studies from four industriesâ€"automotive, chemical, electronics, and pulp and paperâ€"and includes specific corporate examples. It contains goals and recommendations for public and private sector players interested in encouraging the broader use of metrics to improve industrial environmental performance and those interested in addressing the tough issues of prioritization, weighting of metrics for meaningful comparability, and the longer term metrics needs presented by sustainable development.
Book Synopsis Business Regulation and Non-State Actors by : Ananya Mukherjee Reed
Download or read book Business Regulation and Non-State Actors written by Ananya Mukherjee Reed and published by Routledge. This book was released on 2013-06-17 with total page 377 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume assesses the achievements and limitations of a new set of non-state or multistakeholder institutions that are concerned with improving the social and environmental record of business, and holding corporations to account. It does so from a perspective that aims to address two limitations that often characterize this field of inquiry. First, fragmentation: articles or books typically focus on one or a handful of cases. Second, the development dimension: what does such regulation imply for developing countries and subaltern groups in terms of well-being, empowerment and sustainability? This volume examines more than 20 initiatives or institutions associated with different regulatory and development approaches, including the business-friendly corporate social responsibility (CSR) agenda, ‘corporate accountability’ and ‘fair trade’ or social economy.
Book Synopsis Environmental Sustainability by : Ouadie Akaaboune
Download or read book Environmental Sustainability written by Ouadie Akaaboune and published by . This book was released on 2016 with total page 140 pages. Available in PDF, EPUB and Kindle. Book excerpt: The purpose of this three-part study is to analyze the concept of sustainability and its pillars at the county level from a cost management prospective. The first chapter, examine the relationship between resource allocation and environmental management, where I attempt to empirically demonstrate that reallocating resources toward social goods without increasing total spending could in fact improve environmental performance by the county. The second chapter, eco-efficiency and its outcome are examined at the county level as an approach to measuring the competitiveness of fiscal policy (input) in improving environmental performance (output) and its impact on the overall financial condition of the county (outcome). The third chapter, assess the extent to which economic development at the county level benefit from the presence of pro-active environmental efforts such as recycling programs. In this three-part study, I employ a sample of 66 Florida counties from 2005 to 2014.
Book Synopsis The Value Relevance of Environmental and Social Disclosures - Evidence from the UK Stock Market by : Cristiana Bernardi
Download or read book The Value Relevance of Environmental and Social Disclosures - Evidence from the UK Stock Market written by Cristiana Bernardi and published by . This book was released on 2017 with total page 51 pages. Available in PDF, EPUB and Kindle. Book excerpt: Motivated by the requirements of the UK Companies Act 2006 and the subsequent Directive 2014/95/EU of the European Parliament and of the Council, we investigate the relationship between environmental and social disclosures (analyst following) and analyst following (environmental and social disclosures). We do so to investigate the value relevance of information about environmental and social performance, in a context where corporate managers have to gauge the level of disclosures necessary to satisfy the requirements of the Act. Our analysis provides support for the requirements of the UK and EU with respect to disclosures concerning environmental and social performance - the evidence is consistent with their value relevance and an associated demand for such disclosures from informed market participants. It further is consistent with the assumption that corporate managers take into account the demand for such value relevant, environmental and social disclosures in gauging the appropriate amount of such disclosures. Stepping outside the policy dimension to our work, we can also argue that our results also suggest positive links between analyst following and the quality of environmental and social disclosure.
Book Synopsis Decision Making for the Environment by : National Research Council
Download or read book Decision Making for the Environment written by National Research Council and published by National Academies Press. This book was released on 2005-07-01 with total page 297 pages. Available in PDF, EPUB and Kindle. Book excerpt: With the growing number, complexity, and importance of environmental problems come demands to include a full range of intellectual disciplines and scholarly traditions to help define and eventually manage such problems more effectively. Decision Making for the Environment: Social and Behavioral Science Research Priorities is the result of a 2-year effort by 12 social and behavioral scientists, scholars, and practitioners. The report sets research priorities for the social and behavioral sciences as they relate to several different kinds of environmental problems.
Book Synopsis U.S. Health in International Perspective by : National Research Council
Download or read book U.S. Health in International Perspective written by National Research Council and published by National Academies Press. This book was released on 2013-04-12 with total page 421 pages. Available in PDF, EPUB and Kindle. Book excerpt: The United States is among the wealthiest nations in the world, but it is far from the healthiest. Although life expectancy and survival rates in the United States have improved dramatically over the past century, Americans live shorter lives and experience more injuries and illnesses than people in other high-income countries. The U.S. health disadvantage cannot be attributed solely to the adverse health status of racial or ethnic minorities or poor people: even highly advantaged Americans are in worse health than their counterparts in other, "peer" countries. In light of the new and growing evidence about the U.S. health disadvantage, the National Institutes of Health asked the National Research Council (NRC) and the Institute of Medicine (IOM) to convene a panel of experts to study the issue. The Panel on Understanding Cross-National Health Differences Among High-Income Countries examined whether the U.S. health disadvantage exists across the life span, considered potential explanations, and assessed the larger implications of the findings. U.S. Health in International Perspective presents detailed evidence on the issue, explores the possible explanations for the shorter and less healthy lives of Americans than those of people in comparable countries, and recommends actions by both government and nongovernment agencies and organizations to address the U.S. health disadvantage.
Download or read book CSR and Beyond written by Atle Midttun and published by . This book was released on 2013-05-31 with total page 444 pages. Available in PDF, EPUB and Kindle. Book excerpt: Following the neoliberal turn in the 1980s, leading global companies have established an influential trend in business through adoption of the doctrine of corporate social and environmental responsibility (CSR). This book critically explores the new megatrend and its varying interpretations and presents overviews of several fields of CSR practice: governance, business ethics, SRI/ESG investment, communication, reporting, labour relations/HR, supply chain management, life cycle analysis, climate strategy, innovation, leadership and public policy. The book also presents visions of CSR development going forward. While the book contributes to the international research frontier, it also reflects its Nordic context, both with respect to authorship and empirical focus. Chapters on leading companies and on state CSR initiatives illustrate how the Nordic tradition has fostered pioneering CSR positions both in business and public policy. In the final chapter the book engages in the broader international debate on CSR, democracy, and value creation, with leading international critical thinkers in dialogue with industrial strategists.
Book Synopsis Making Sustainability Work by : Marc J. Epstein
Download or read book Making Sustainability Work written by Marc J. Epstein and published by Routledge. This book was released on 2017-09-08 with total page 346 pages. Available in PDF, EPUB and Kindle. Book excerpt: The ultimate "how-to-do-it" guide for corporate leaders, strategists, academics, sustainability consultants, and anyone else with an interest in actually making sustainability work for organizations. An updated edition of a landmark book at a time when a growing number of corporate leaders are asking for urgent help in "getting this done".
Book Synopsis Routledge Handbook of Environmental Accounting by : Jan Bebbington
Download or read book Routledge Handbook of Environmental Accounting written by Jan Bebbington and published by Routledge. This book was released on 2021-03-30 with total page 544 pages. Available in PDF, EPUB and Kindle. Book excerpt: This handbook showcases the broad spectrum of diverse approaches to environmental accounting which have developed during the last 30 years across the globe. The volume covers a range of physical issues such as water, carbon and biodiversity, as well as specific accounting matters such as management control, finance and audit. Moreover, seven chapters present environmental accounting issues that arise in the regions of Africa, Asia, Europe, MENA, North America, the Pacific and South America. The handbook also highlights future challenges in all the topic areas addressed as well as introducing new topics, such as links between environmental accounting and the circular economy, and the issues associated with animal rights. Edited by leading scholars in the area and with key contributions from across the discipline, and covering a diverse range of perspectives and locations, the volume is divided into five key parts: • Part 1: Framing the issues • Part 2: Financial accounting and reporting • Part 3: Management accounting • Part 4: Global and local perspectives • Part 5: Thematic topics in environmental accounting This handbook will act as a significant publication in drawing together the history of the field and important reference points in its future development, and will serve as a vital resource for students and scholars of environmental accounting and environmental economics.
