Access the full text.
Sign up today, get DeepDyve free for 14 days.
Loading next page...
/lp/wiley/does-the-market-value-corporate-environmental-responsibility-an-xIuTmgtkrh
References (45)
-
F. Borri, Giuliano Boccaletti (1995)
From total quality management to total quality environmental managementThe Tqm Magazine, 7
-
S. Schmidheiny (1992)
Changing Course: A Global Business Perspective on Development and the Environment -
Glen Dowell, S. Hart, B. Yeung (2000)
Do Corporate Global Environmental Standards Create or Destroy Market ValueManagement Science, 46
-
Abagail McWilliams, D. Siegel (2001)
Corporate Social Responsibility: a Theory of the Firm PerspectiveAcademy of Management Review, 26
-
J. Cramer (1998)
Environmental Management : From "Fit" to "Stretch" -
Melville Cottrill (1990)
Corporate social responsibility and the marketplaceJournal of Business Ethics, 9
-
Walter Blacconiere, Dennis Patten (1994)
Environmental disclosures, regulatory costs, and changes in firm valueJournal of Accounting and Economics, 18
-
W. Chapple, A. Cooke, Vaughan Galt, D. Paton (2001)
The characteristics and attributes of UK firms obtaining accreditation to ISO 14001Business Strategy and The Environment, 10
-
Alan Murray, D. Sinclair, D. Power, R. Gray (2006)
Do financial markets care about social and environmental disclosure?: Further evidence and exploration from the UKAccounting, Auditing & Accountability Journal, 19
-
Abagail McWilliams, D. Siegel (2000)
Corporate social responsibility and financial performance: correlation or misspecification?Strategic Management Journal, 21
-
A. Ghobadian, H. Viney, Jonathan Liu, Philip James (1998)
Extending linear approaches to mapping corporate environmental behaviourBusiness Strategy and The Environment, 7
-
R. Klassen, C. McLaughlin (1996)
The impact of environmental management on firm performanceManagement Science, 42
-
B. Jaggi, M. Freedman (1992)
AN EXAMINATION OF THE IMPACT OF POLLUTION PERFORMANCE ON ECONOMIC AND MARKET PERFORMANCE: PULP AND PAPER FIRMSJournal of Business Finance & Accounting, 19
-
K Chung, S Pruitt (1994)
A simple approximation of Tobin's qJournal of Business Ethics, 23
-
Edward Morey, Paul Samuelson, Michael Burns, Robert Willig (1891)
American Economic AssociationThe Annals of the American Academy of Political and Social Science, 1
-
Esben Pedersen (2007)
Perceptions of performance: how European organizations experience EMAS registrationCorporate Social Responsibility and Environmental Management, 14
-
E. Lindenberg, S. Ross (1981)
Tobin's q Ratio and Industrial OrganizationThe Journal of Business, 54
-
Vitaliy Zheka (2005)
Corporate Governance, Ownership Structure and Corporate Efficiency: The Case of UkraineManagerial and Decision Economics, 26
-
Kenneth Aupperle, A. Carroll, J. Hatfield (1985)
An empirical examination of the relationship between corporate so#al responsibility and profitabilit -
R Carson (1962)
Silent SpringBusiness Strategy and the Environment
-
I. Henriques, Perry Sadorsky (1996)
The Determinants of an Environmentally Responsive Firm: An Empirical ApproachJournal of Environmental Economics and Management, 30
-
Michael Jensen, W. Meckling (1976)
Theory of the Firm -
M. Russo, P. Fouts (1997)
A Resource-Based Perspective On Corporate Environmental Performance And ProfitabilityAcademy of Management Journal, 40
-
Samuel Graves, S. Waddock (1994)
Institutional Owners and Corporate Social PerformanceAcademy of Management Journal, 37
-
M Cottrill (1990)
Corporate social responsibility and the marketplaceBusiness Strategy and the Environment, 9
-
Shameek Konar, M. Cohen (2001)
Does the Market Value Environmental Performance?Review of Economics and Statistics, 83
-
S. Waddock, Samuel Graves (1997)
The corporate social performance-financial performance linkStrategic Management Journal, 18
-
L. Preston, Douglas O'Bannon (1997)
The Corporate Social-Financial Performance RelationshipBusiness & Society, 36
-
M. Friedman (2007)
The Social Responsibility of Business Is to Increase Its Profits -
G Dowell, S Hart, B Yeung (2000)
Do corporate global environmental standards create or destroy market valueBusiness Strategy and the Environment, 46
-
J. Hausman (1978)
Specification tests in econometricsApplied Econometrics, 38
-
John Rust, G. Rothwell (1995)
Optimal Response to a Shift in Regulatory Regime: The Case of the US Nuclear Power IndustryJournal of Applied Econometrics, 10
-
W Chapple, A Cook, V Galt, D Paton (2001)
The characteristics and attributes of UK firms obtaining accreditation to ISO 14001The Accounting Review, 10
-
Andrew King, M. Lenox (2002)
Exploring the Locus of Profitable Pollution ReductionManag. Sci., 48
-
Kee Chung, Stephen Pruitt (1994)
A Simple Approximation of Tobin's QCorporate Finance: Valuation
-
G. Mill (2006)
The Financial Performance of a Socially Responsible Investment Over Time and a Possible Link with Corporate Social ResponsibilityJournal of Business Ethics, 63
-
Karen Schnietz, M. Epstein (2005)
Exploring the Financial Value of a Reputation for Corporate Social Responsibility During a CrisisCorporate Reputation Review, 7
-
S. Hanks, C. Watson, E. Jansen, Gaylen Chandler (1994)
Tightening the Life-Cycle Construct: A Taxonomic Study of Growth Stage Configurations in High-Technology OrganizationsEntrepreneurship Theory and Practice, 18
-
K Chen, R Metcalf (1980)
The relationship between pollution control record and financial indicators revisitedFinancial Management, 55
-
Michael Barnett, R. Salomon (2006)
Beyond Dichotomy: The Curvilinear Relationship between Social Responsibility and Financial PerformanceSRPN: Other Socially Responsible Investment (Topic)
-
D. Wood (1991)
Corporate Social Performance RevisitedAcademy of Management Review, 16
-
G. Leal, M. Fa, J. Pasola (2003)
Using environmental management systems to increase firms' competitivenessCorporate Social Responsibility and Environmental Management, 10
-
K. Palmer, W. Oates, P. Portney (1995)
Tightening Environmental Standards: The Benefit-Cost or the No-Cost Paradigm?Journal of Economic Perspectives, 9
-
M. Wagner, N. Phu, Théophile Azomahou, W. Wehrmeyer (2002)
The relationship between the environmental and economic performance of firms: an empirical analysis of the European paper industryCorporate Social Responsibility and Environmental Management, 9
-
S. Mahapatra (1984)
INVESTOR REACTION TO A CORPORATE SOCIAL ACCOUNTINGJournal of Business Finance & Accounting, 11
- Publisher
- Wiley
- Copyright
- Copyright © 2008 Wiley Subscription Services, Inc., A Wiley Company
- ISSN
- 1535-3958
- eISSN
- 1535-3966
- DOI
- 10.1002/csr.153
- Publisher site
- See Article on Publisher Site
Abstract
Although researchers have applied different theoretical perspectives to illustrate the relationship between corporate environmental responsibility and profitability, to date theories are contested and empirical findings are inconclusive. Therefore, the aim of this research was to present empirical evidence regarding the influence of engaging in environmental responsibility on corporate market value, as the first study to be applied in the Egyptian context. The findings demonstrate that the market compensates those firms that care for their environment, as environmental responsibility exerted a positive and significant coefficient on the firm market value measured by Tobin's q ratio. This aligns stakeholder theory as well as resource‐based theory arguments, and provides supporting evidence for those studies that have concluded that it pays to be environmentally responsive. Copyright © 2007 John Wiley & Sons, Ltd and ERP Environment.
Journal
Corporate Social Responsibility and Environmental Management – Wiley
Published: Mar 1, 2008
Keywords: ; ; ; ; ;