Carbon performance and corporate financial performance during crises: Evidence from the COVID-19 pandemic and the Global Financial Crisis

Publikation: Beiträge in ZeitschriftenZeitschriftenaufsätzeForschungbegutachtet

Standard

Carbon performance and corporate financial performance during crises: Evidence from the COVID-19 pandemic and the Global Financial Crisis. / Läger, Frederic; Bouzzine, Yassin Denis; Lueg, Rainer.
in: Journal of Industrial Ecology, Jahrgang 29, Nr. 1, 02.2025, S. 246-263.

Publikation: Beiträge in ZeitschriftenZeitschriftenaufsätzeForschungbegutachtet

Harvard

APA

Vancouver

Bibtex

@article{625350ff58124e1fbf3ab81a8b90d1e4,
title = "Carbon performance and corporate financial performance during crises: Evidence from the COVID-19 pandemic and the Global Financial Crisis",
abstract = "Economic crises offer a valuable perspective on the relationship between carbon performance and corporate financial performance (CFP). Crises test corporate performance and challenge the allegedly universal synergies that developed under “normal” circumstances. However, the current research in this area is limited and has often yielded insignificant results. Drawing from a global dataset spanning 15 years, we investigate the moderating influences of two distinct crises on the interplay between carbon emission intensity and CFP. Employing fixed-effects regression analysis, we dissect these critical periods, offering nuanced insights into their distinct impacts. The contrasting nature of the Global Financial Crisis (GFC) and the COVID-19 pandemic is central to this study. The COVID-19 pandemic, characterized by operational disruptions and natural resource scarcities (supply-side shock), significantly amplified the benefits of carbon reduction strategies, highlighting the value of efficient processes and cost efficiencies. In contrast, the GFC did not exhibit a significant impact on the carbon–CFP relationship. This differentiation is attributed to the GFC's finance-driven nature (demand-side shock), and the resultant evolution in stakeholder preferences and organizational structures. This study extends beyond the debated territory of environmental, social, and governance (ESG) scores. It also provides a nuanced understanding of carbon performance's role subject to the unique characteristics of a crisis.",
keywords = "carbon disclosure, carbon performance, corporate financial performance, corporate social responsibility, corporate sustainability, scope 1 emissions, Management studies",
author = "Frederic L{\"a}ger and Bouzzine, {Yassin Denis} and Rainer Lueg",
note = "Publisher Copyright: {\textcopyright} 2024 The Author(s). Journal of Industrial Ecology published by Wiley Periodicals LLC on behalf of International Society for Industrial Ecology.",
year = "2025",
month = feb,
doi = "10.1111/jiec.13603",
language = "English",
volume = "29",
pages = "246--263",
journal = "Journal of Industrial Ecology",
issn = "1088-1980",
publisher = "Wiley-Blackwell Publishing, Inc.",
number = "1",

}

RIS

TY - JOUR

T1 - Carbon performance and corporate financial performance during crises

T2 - Evidence from the COVID-19 pandemic and the Global Financial Crisis

AU - Läger, Frederic

AU - Bouzzine, Yassin Denis

AU - Lueg, Rainer

N1 - Publisher Copyright: © 2024 The Author(s). Journal of Industrial Ecology published by Wiley Periodicals LLC on behalf of International Society for Industrial Ecology.

PY - 2025/2

Y1 - 2025/2

N2 - Economic crises offer a valuable perspective on the relationship between carbon performance and corporate financial performance (CFP). Crises test corporate performance and challenge the allegedly universal synergies that developed under “normal” circumstances. However, the current research in this area is limited and has often yielded insignificant results. Drawing from a global dataset spanning 15 years, we investigate the moderating influences of two distinct crises on the interplay between carbon emission intensity and CFP. Employing fixed-effects regression analysis, we dissect these critical periods, offering nuanced insights into their distinct impacts. The contrasting nature of the Global Financial Crisis (GFC) and the COVID-19 pandemic is central to this study. The COVID-19 pandemic, characterized by operational disruptions and natural resource scarcities (supply-side shock), significantly amplified the benefits of carbon reduction strategies, highlighting the value of efficient processes and cost efficiencies. In contrast, the GFC did not exhibit a significant impact on the carbon–CFP relationship. This differentiation is attributed to the GFC's finance-driven nature (demand-side shock), and the resultant evolution in stakeholder preferences and organizational structures. This study extends beyond the debated territory of environmental, social, and governance (ESG) scores. It also provides a nuanced understanding of carbon performance's role subject to the unique characteristics of a crisis.

AB - Economic crises offer a valuable perspective on the relationship between carbon performance and corporate financial performance (CFP). Crises test corporate performance and challenge the allegedly universal synergies that developed under “normal” circumstances. However, the current research in this area is limited and has often yielded insignificant results. Drawing from a global dataset spanning 15 years, we investigate the moderating influences of two distinct crises on the interplay between carbon emission intensity and CFP. Employing fixed-effects regression analysis, we dissect these critical periods, offering nuanced insights into their distinct impacts. The contrasting nature of the Global Financial Crisis (GFC) and the COVID-19 pandemic is central to this study. The COVID-19 pandemic, characterized by operational disruptions and natural resource scarcities (supply-side shock), significantly amplified the benefits of carbon reduction strategies, highlighting the value of efficient processes and cost efficiencies. In contrast, the GFC did not exhibit a significant impact on the carbon–CFP relationship. This differentiation is attributed to the GFC's finance-driven nature (demand-side shock), and the resultant evolution in stakeholder preferences and organizational structures. This study extends beyond the debated territory of environmental, social, and governance (ESG) scores. It also provides a nuanced understanding of carbon performance's role subject to the unique characteristics of a crisis.

KW - carbon disclosure

KW - carbon performance

KW - corporate financial performance

KW - corporate social responsibility

KW - corporate sustainability

KW - scope 1 emissions

KW - Management studies

UR - http://www.scopus.com/inward/record.url?scp=85213731340&partnerID=8YFLogxK

U2 - 10.1111/jiec.13603

DO - 10.1111/jiec.13603

M3 - Journal articles

AN - SCOPUS:85213731340

VL - 29

SP - 246

EP - 263

JO - Journal of Industrial Ecology

JF - Journal of Industrial Ecology

SN - 1088-1980

IS - 1

ER -

DOI

Zuletzt angesehen

Publikationen

  1. Spielt es nur eine Rolle "was" gepromptet wird oder auch "wann" gepromptet wird.
  2. Mindfulness and cognitive-behavioral strategies for psychological detachment
  3. Non-destructive transmissive inductive thickness sensor for IoT applications
  4. Multiscale analysis for the bio-heat transfer equation - The nonisolated case
  5. Ein piezohydraulischer vollvariabler Ventilantrieb eines Verbrennungsmotors
  6. Liebe im Kapitalismus zwischen Geschlechtergleichheit und Marktorientierung
  7. Improved sensorimotor control is not connected with improved proprioception
  8. An analytical approach to evaluating nonmonotonic functions of fuzzy numbers
  9. The Success and Failure of Financial Innovations: The Case of Louis Bachelier
  10. Individuelle mathematische Lernprozesse erfassen, herausfordern und begleiten
  11. Export entry, export exit and productivity in German manufacturing industries
  12. Precipitation Kinetics of AA6082: An Experimental and Numerical Investigation
  13. Capital market imperfections and trade liberalization in general equilibrium
  14. Dimension estimates for certain sets of infinite complex continued fractions
  15. Geometric disturbance decoupling control of vehicles with active suspensions
  16. Abnormal extrusion texture and reversed yield asymmetry in a Mg–Y-Sm-Zn-Zr alloy
  17. Cascade MIMO P-PID Controllers Applied in an Over-actuated Quadrotor Tilt-Rotor
  18. Zur Diskrepanz impliziter und expliziter sicherheitskritischer Einstellungen.
  19. Belief in free will affects causal attributions when judging others’ behavior
  20. A Unified Contextual Bandit Framework for Long- and Short-Term Recommendations
  21. Wie beeinflusst die Kameraperspektive die Beurteilung der Unterrichtsqualität?
  22. Microhardness and in vitro corrosion of heat-treated Mg-Y-Ag biodegradable alloy
  23. Lengthscale-dependent modelling of ductile failure in metallic microstructures
  24. Graph-based Approaches for Analyzing Team Interaction on the Example of Soccer
  25. Dual Kalman Filters Analysis for Interior Permanent Magnet Synchronous Motors
  26. Accuracy Improvement by Artificial Neural Networks in Technical Vision System
  27. Friction analyses in twisted and helical profile extrusion of aluminum alloys
  28. Obstacle Coordinates Transformation from TVS Body-Frame to AGV Navigation-Frame
  29. Schülervorstellungen und sozialwissenschaftliche Vorstellungen über Migration
  30. Motion-decoupled internal force control in grasping with visco-elastic contacts
  31. The Lotka-Volterra Model for Competition Controlled by a Sliding Mode Approach
  32. Similar factors underlie tree abundance in forests in native and alien ranges
  33. Do the global stochastic trends drive the real house prices in OECD countries?
  34. Sustainable management of marine fish stocks by means of sliding mode control
  35. Effects of Mn and Zn solutes on grain refinement of commercial pure magnesium
  36. Early Detection of Faillure in Conveyor Chain Systems by Wireless Sensor Node
  37. Impact of soft law regulation by corporate governance codes on firm valuation
  38. Microstructure refinement by a novel friction-based processing on Mg-Zn-Ca alloy
  39. Number theoretical peculiarities in the dimension theory of dynamical systems