Corporate Environmental and Economic Performance of Japanese Manufacturing Firms: Empirical Study for Sustainable Development

Fujii, Hidemichi, Iwata, Kazuyuki, Kaneko, Shinji, & Managi, Shunsuke (2012) Corporate Environmental and Economic Performance of Japanese Manufacturing Firms: Empirical Study for Sustainable Development. Business Strategy and the Environment, 22(3), pp. 187-201.

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Abstract

This study examines the relationship between environmental performance and economic performance in Japanese manufacturing firms. The environmental performance indicators include CO2 emissions and the aggregate toxic risk associated with chemical emissions relative to sales. Return on assets (ROA) is used as an indicator of economic performance. We demonstrate that there is a significant inverted U-shaped relationship between ROA and environmental performance calculated by aggregated toxic risk. We also find that the environmental performance increases ROA through both returns on sales and improved capital turnover. However, we observe a significant positive relationship between financial performance and environmental performance based on CO2 emissions. These findings may provide evidence for the consequences of firms' environmental behavior and sustainable development. © 2012 John Wiley & Sons, Ltd and ERP Environment.

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ID Code: 75386
Item Type: Journal Article
Refereed: Yes
Keywords: CO2 emissions; Corporate environmental management; Environmental efficiency; Japanese manufacturing firm; Sustainable development; Toxic chemical substances
DOI: 10.1002/bse.1747
ISSN: 09644733
Subjects: Australian and New Zealand Standard Research Classification > ECONOMICS (140000) > APPLIED ECONOMICS (140200)
Divisions: Current > QUT Faculties and Divisions > QUT Business School
Current > Schools > School of Economics & Finance
Copyright Owner: John Wiley & Sons
Deposited On: 21 Aug 2014 01:36
Last Modified: 22 Aug 2014 04:36

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