Determinants and financial consequences of environmental performance and reporting: A literature review of European archival research

Publikation: Beiträge in ZeitschriftenÜbersichtsarbeitenForschung

Authors

Motivated by the EU Green Deal project as a unique setting, we present the first literature review of firm- and country-related determinants of environmental performance (EP) and environmental reporting (ER) and their financial consequences for the European capital market. Based on legitimacy and stakeholder theories, we conducted a structured literature review and examined 124 peer-reviewed empirical-quantitative (archival) studies. There were clear indications that board gender diversity, sustainability board committees, firm size, and environmentally sensitive industries are the main drivers of increased environmental outputs. Moreover, although positive financial consequences of increased EP and ER were identified, this was true for accounting-based financial performance but not for market-based measures.
Titel in ÜbersetzungMotivated by the EU Green Deal project as a unique setting, we present the first literature review of firm- and country-related determinants of environmental performance (EP) and environmental reporting (ER) and their financial consequences for the European capital market. Based on legitimacy and stakeholder theories, we conducted a structured literature review and examined 124 peer-reviewed empirical-quantitative (archival) studies. There were clear indications that board gender diversity, sustainability board committees, firm size, and environmentally sensitive industries are the main drivers of increased environmental outputs. Moreover, although positive financial consequences of increased EP and ER were identified, this was true for accounting-based financial performance but not for market-based measures.
OriginalspracheEnglisch
Aufsatznummer117916
ZeitschriftJournal of Environmental Management
Jahrgang340
Anzahl der Seiten13
ISSN0301-4797
DOIs
PublikationsstatusErschienen - 15.08.2023

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