Environmental Performance and Firm Value: Evidence from Dow Jones Sustainability Index Europe

	Environmental Performance and Firm Value: Evidence from Dow Jones Sustainability Index Europe
International Journal of Environmental Research
مقاله 19، دوره 6، شماره 4، دی 2012، صفحه 1007-1014 اصل مقاله (118.73 K)
نوع مقاله: Original Research Paper
شناسه دیجیتال (DOI): 10.22059/ijer.2012.571
نویسندگان
E. Pérez-Calderón^* ؛ P. Milanés-Montero؛ F.J. Ortega-Rossell
Financial Economics and Accounting Department, Faculty of Business Studies and Tourism, University of Extremadura, Spain
چکیده
In this study we analyze the effects of environmental performance on the generation of firm value from Dow Jones Sustainability Index Europe. We use a sample of 122 firms from different sectors, except financial one, which belong to this Index for the years 2007 through 2009. The expected results, taking into account our hypotheses, should show a positive relationship between the generation of value and the environmental performance. Therefore, one of our main findings would be the importance of these behaviors in order to improve the economic performance, due to the better utilization of resources. These relationships are not demonstrated by recognition by the stock market, short-term.
کلیدواژه‌ها
Economic performance؛ Financial performance؛ environmental performance؛ Stakeholders Theory

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