Determinants and financial consequences of environmental performance and reporting: A literature review of European archival research
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Determinants and financial consequences of environmental performance and reporting: A literature review of European archival research. / Velte, Patrick.
In: Journal of Environmental Management, Vol. 340, 117916, 15.08.2023.Research output: Journal contributions › Scientific review articles › Research
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TY - JOUR
T1 - Determinants and financial consequences of environmental performance and reporting: A literature review of European archival research
AU - Velte, Patrick
N1 - Publisher Copyright: © 2023 Elsevier Ltd
PY - 2023/8/15
Y1 - 2023/8/15
N2 - 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.
AB - 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.
KW - Management studies
KW - Sustainability sciences, Management & Economics
KW - Carbon performance
KW - carbon reporting
KW - environmental performance
KW - Environmental reporting
KW - legitimacy theory
KW - Stakeholder theory
UR - http://www.scopus.com/inward/record.url?scp=85154041455&partnerID=8YFLogxK
UR - https://www.mendeley.com/catalogue/b0693c81-603e-33ee-8138-09a9d91372cd/
U2 - 10.1016/j.jenvman.2023.117916
DO - 10.1016/j.jenvman.2023.117916
M3 - Scientific review articles
C2 - 37141659
VL - 340
JO - Journal of Environmental Management
JF - Journal of Environmental Management
SN - 0301-4797
M1 - 117916
ER -