Environmental Economics最新文献

{"title":"Antecedents of green manufacturing implementation by local MSMEs in Indonesia","authors":"Noormalita Primandaru, Manggar Wulan Kusuma, Olivia Barcelona Nasution","doi":"10.21511/ee.14(2).2023.08","DOIUrl":"https://doi.org/10.21511/ee.14(2).2023.08","url":null,"abstract":"This study aims to investigate the adoption of green manufacturing in the micro, small, and medium enterprises in Indonesia using the integrated framework. The paper used purposive sampling to select 258 micro, small, and medium enterprises in Indonesia that adopt green production processes to determine the supporting and inhibiting factors experienced in green manufacturing. Structural equation modeling with SmartPLS 3.0 application is used for data processing. The results show that the internal factors (organizational capabilities, internal competencies development, relative advantage, and organizational resources) affect green manufacturing implementation. This indicates that micro, small, and medium enterprises in Indonesia tend to adopt green manufacturing when they have organizational capabilities, internal competencies development, relative advantage, and organizational resources that support this practice. External factors that influence green manufacturing practices are government support. Indonesian micro, small, and medium enterprises consider that government support in the form of subsidies or regulations related to green practices will make it easier to adopt green manufacturing.\u0000AcknowledgmentThis study is funded by the Ministry of Education, Culture, Research and Technology of the Republic of Indonesia (Kementerian Pendidikan, Kebudayaan, Riset dan Teknologi Republik Indonesia). The scheme of the grant is Fundamental Research entitled “Implementasi Green Manufacturing dan Dampaknya pada Kinerja UMKM Industri Kerajinan Lokal dalam Rangka Pengentasan Kemiskinan di Indonesia”).","PeriodicalId":52974,"journal":{"name":"Environmental Economics","volume":"128 30","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-12-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138953518","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Green perceived value and green product purchase intention of Gen Z consumers: Moderating role of environmental concern","authors":"Syarifah Hudayah, Melda Aulia Ramadhani, Kezia Arum Sary, Sugeng Raharjo, Rizky Yudaruddin","doi":"10.21511/ee.14(2).2023.07","DOIUrl":"https://doi.org/10.21511/ee.14(2).2023.07","url":null,"abstract":"The primary objective of this study is to examine the connection between Generation Z Indonesian consumers’ perceptions of value for green products and their purchase intentions, with a supplementary investigation into how environmental concerns moderate the influence of perceived green value on their intention to purchase green products. Between June and December 2021, a probability sampling technique, specifically stratified random sampling, was used to select a sample of 543 Indonesian Generation Z consumers. The data were analyzed using a variance-based method, namely partial least squares, within the context of structural equation modeling. The analysis reveals that functional value, conditional value, and environmental concern significantly and positively affect the intention to purchase green products. This indicates that Generation Z consumers are more inclined to choose green products when they perceive them to have good functional value, when specific conditions or requirements support the purchase, and when they have a high environmental concern. Moreover, environmental concern moderates the effect of social value on the intention to purchase green products. This suggests that more environmentally conscious consumers are more likely to be influenced by social value benefits when deciding to buy green products, highlighting the complex interplay between environmental and social motivations in shaping consumer behavior towards sustainability.","PeriodicalId":52974,"journal":{"name":"Environmental Economics","volume":"19 12","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-10-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135412652","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"The impact of environmental disclosure on value relevance: Moderating role of environmental performance","authors":"Mohammad Saleh Altarawneh","doi":"10.21511/ee.14(2).2023.06","DOIUrl":"https://doi.org/10.21511/ee.14(2).2023.06","url":null,"abstract":"Existing research lacks to adequately examine how environmental performance moderates the influence of environmental disclosure on value relevance. This study pursues to investigate the direct influence of environmental disclosures on value relevance, measured by the fair value of common equity. Moreover, it tests how environmental performance moderates the influence of environmental disclosures on value relevance.Data were gathered from the annual reports of Jordanian industrial firms listed on the Amman Stock Exchange from 2018 to 2021. The study employed the Ohlson model to assess the value relevance. Furthermore, both earnings and the book value of equity were included as other independent variables, as required by the model.This study found that environmental disclosures positively impact the value relevance of industrial firms listed on the Amman Stock Exchange. Moreover, such disclosures positively influence the value relevance of industrial firms with greater environmental performance. Earnings and the book value of equity also positively influence the value relevance. The results were similar to those obtained by conducting panel regression after controlling for both the industry and year effects.It is therefore recommended that directors exploit environmental disclosures to increase the value relevance of the firm. At the same time, they should consider environmental disclosures as an essential component to integrate into future strategies. Hence, firm managers should consistently evaluate the environmental and financial performance, followed by developing well-designed strategies to increase the environmental performance and reliability of environmental disclosure due to their positive role in enhancing value relevance.","PeriodicalId":52974,"journal":{"name":"Environmental Economics","volume":"15 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-09-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135155597","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Do bond attributes affect green bond yield? Evidence from Indian green bonds","authors":"Abhilash Abhilash, Sandeep S. Shenoy, Dasharathraj K. Shetty, Aditi N. Kamath","doi":"10.21511/ee.14(2).2023.05","DOIUrl":"https://doi.org/10.21511/ee.14(2).2023.05","url":null,"abstract":"Over the years, green finance tools have gained considerable attention with the increased concern to achieve sustainability in the economy. Green bonds are one such new innovative green finance tool embodied with bonds and green attributes. However, research on the Indian green bond is relatively modest. Thus, this study aims to analyze the impact of bond attributes on green bond yield. The study retrieves green bond data from the Bloomberg and Climate Bonds Initiative databases from 2015 to 2022. To test the framed hypotheses, the study employs a panel regression technique with a random effect model. The findings of the study show a significant positive effect of bond ratings (β = 2.80926, p < 0.05) on green bond yield based on the argument that good-rated bonds serve as collateral in the security market. On the contrary, the result also reveals a significant negative effect of bond maturity (β = –0.327296, p < 0.05) and bond label (β = –3.16480, p < 0.05) on green bond yield. The results based on the observation suggest that when the certified bond is issued, this signals the greenness of the bond in the market and attracts high demand, whereas the long maturity ensures the green project construction for a longer period, resulting in a lower bond value. Thus, empirical findings reveal that bond attributes are the major factors in influencing bond yield. The obtained results serve as a prerequisite for potential issuers, investors, and policymakers to further popularize the green bond in the country.","PeriodicalId":52974,"journal":{"name":"Environmental Economics","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-09-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43776456","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Cryptocurrency energy consumption: Analysis, global trends and interaction","authors":"Y. Bublyk, O. Borzenko, Anna Hlazova","doi":"10.21511/ee.14(2).2023.04","DOIUrl":"https://doi.org/10.21511/ee.14(2).2023.04","url":null,"abstract":"The rapid spread of cryptocurrencies is one of the most relevant trends today. One of the significant risks of their spread is the increase in energy consumption, which has a negative impact on the environment due to carbon emissions. This requires the development of a scientific toolkit for assessing relationships and predicting the impact of cryptocurrencies on energy consumption, which is the aim of this paper.With the correlational regression analysis, the model of the dependence of spending on IT sector, energy consumption of Bitcoin, Ethereum and global capitalization of the cryptocurrency market was conducted, based on statistical data from Statista.com, Сoinmarketcap.com and International Data Corporation. To check the possible relationship, tests for the adequacy of the results obtained (Fisher’s test, Student’s t-test) confirmed the correctness of coefficients for independent variables.The results showed a significant direct correlation (Multiple R is 95%) of spending on IT sector, energy consumption and global capitalization of the cryptocurrency market. The established relationships allowed predicting that Bitcoin energy consumption may reach 142 Terawatt hours per year in 2026. And its impact on environment by mining in 2022 was at least 27.4 Mt of CO2 emission.As a proposal, a conclusion was made on the expediency of linking mining to the use of certain sources of electricity production, such as “residual” natural gas, nuclear power, renewable energy sources. The obtained results and conclusions may be used as a basis for political decisions in the field of energy efficiency and climate change mitigation.","PeriodicalId":52974,"journal":{"name":"Environmental Economics","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-08-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48134088","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Assessing pro-environmental behaviors and implications for integrated conservation in protected areas: A study of visitors and entrepreneurs in the Asinara National Park, Italy","authors":"M. Meleddu, M. Pulina, M. Vannini, M. Vecco","doi":"10.21511/ee.14(2).2023.03","DOIUrl":"https://doi.org/10.21511/ee.14(2).2023.03","url":null,"abstract":"Understanding pro-environmental behaviors in protected areas is vital for effective resource management, visitor management, infrastructure development, and conservation strategies. Therefore, this study aims to assess environmentally friendly practices and behaviors (eco-practices) of visitors (demand side) and entrepreneurs and tour operators (supply side) to explore the implications for the long-term sustainability of the protected area. The study utilizes the shared value framework and the value-belief-norm theory extended to environmentalism to investigate the relevant values for pro-environmental behaviors. The paper focuses on the Asinara National Park in Italy. It employs a partial least squares-structural equation model to analyze the pro-environmental behavior and willingness to commit to conservation goals. The findings reveal that visitors demonstrate a willingness to commit to eco-practices in a protected area based upon non-extractive cultural ecosystem services (path coefficient = 0.196*) and accept earmarked taxation (path coefficient = 0.254***), which indicates their loyalty and satisfaction with their visit. On the other hand, entrepreneurs are motivated by internally adopted ecological practices (path coefficient = 0.509***) and altruistic reasons (path coefficient = 0.377**). In conclusion, the study emphasizes aligning service and facility supply with demand and the mission of protected areas to achieve balanced and sustainable resource management. By understanding and promoting pro-environmental behaviors, long-term resilience can be ensured for protected areas, benefiting both the environment and the visitors.\u0000AcknowledgmentsWe would like to thank the participants of the XI Workshop on Institutions, Individual Behavior and Economic Outcomes, Session Environmental and Ecological Economics, Corte (France) and at the Research Meeting Seminar, Burgundy School of Business, Dijon (France) for their helpful comments. We also thank Fondazione di Sardegna (Economia e Benessere tra Società e Istituzioni), grant 2022–2023, Programme 2014–2020 INTERREG V-A Italy – France Maritime (grant EcoSTRIM), and Fondo di Ateneo UNISS 2020 for financial support.","PeriodicalId":52974,"journal":{"name":"Environmental Economics","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-08-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47947521","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Research trends on development of energy efficiency and renewable energy in households: A bibliometric analysis","authors":"I. Sotnyk, T. Kurbatova, G. Trypolska, I. Sokhan, V. Koshel","doi":"10.21511/ee.14(2).2023.02","DOIUrl":"https://doi.org/10.21511/ee.14(2).2023.02","url":null,"abstract":"Households are responsible for more than one-third of global energy consumption and exert a significant environmental impact. Therefore, energy efficiency and renewable energy issues have been a top theme in the literature, with numerous studies examining different facets of residential power consumption, green energy transition, decarbonization, and energy conservation. Despite extensive attention, these research trends and frontiers remain largely uncharacterized and poorly understood. This study aims to provide clear insights into the evolution and latest trends of household energy efficiency and renewable energy studies, reveal significant contributing countries, institutions, and authors of published papers, as well as directions of international collaboration. The method of bibliometric analysis with two supporting instruments (the SciVal platform and Scopus “Analyze search results” tool) was used to investigate an array of 3,761 research items on renewable energy and 4,474 items on energy efficiency in homes formed from the Scopus database. The studied period includes papers published during 1978–2023. The systematic review indicated that the United States, the United Kingdom, and China are primarily contributing countries with strong international collaboration in this field. The top journals include Energy Policy, Energy Efficiency, Energies, and Sustainability, while highly cited researchers investigate environmental, economic, and social effects and management mechanisms for introducing innovative energy-efficient and renewable energy technologies in households like smart meters and grids or the Internet of Things. The research frontier might encompass emerging and pioneering studies on home decarbonization strategies, behavioral interventions, energy saving, prosumerism, and optimization of energy consumption.\u0000AcknowledgmentThe paper is prepared within the framework of the research project “Formation of economic mechanisms to increase energy efficiency and provide sustainable development of renewable energy in Ukraine’s households” (No. 0122U001233), funded by the National Research Foundation of Ukraine.","PeriodicalId":52974,"journal":{"name":"Environmental Economics","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-08-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"49326711","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"CO2 emissions, industrial output, and economic growth nexus: Evidence from Nepalese economy","authors":"Arjun Kumar Dahal, G. Bhattarai, Prem Bahadur Budhathoki","doi":"10.21511/ee.14(2).2023.01","DOIUrl":"https://doi.org/10.21511/ee.14(2).2023.01","url":null,"abstract":"This study aims to investigate the relationship between Nepal’s industrial sector output, economic expansion, and CO2 emissions. The analysis uses secondary data from various World Bank reports and covers the period from 1990 to 2022. It is founded on an exploratory and analytical research design. The relationship and effect of Nepal’s GDP and manufacturing output on CO2 emissions are investigated using various statistical and econometric tools, including descriptive statistics, Pearson correlation analysis, unit root testing, Granger causality test, Johansen co-integration test, and autoregressive regression model. The results show that the production of the industrial sector and CO2 emissions are highly positively correlated, as is GDP. The GDP granger causes CO2 emissions, but manufacturing output does not. Johansen’s co-integration test shows a long-term relationship between predictor and response variables. The previous value of CO2 emission is also responsible for the present level of carbon emissions: a one percent increase in GDP leads to a 0.314 percent increase in CO2 emissions in Nepal. The impact of industrial sector output is statistically insignificant. The condition of GDP and CO2 emissions shows the initial phase of the environmental Kuznets curve (EKC). The study recommends adopting an environment-friendly production technique to overcome the problem of carbon emissions in Nepal.","PeriodicalId":52974,"journal":{"name":"Environmental Economics","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-07-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44841501","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"The role of family businesses and active family members in environmental performance","authors":"Agus Joko Pramono, Bahrullah Akbar, B. Tarigan, Rusmin Rusmin, Emita Wahyu Astami","doi":"10.21511/ee.14(1).2023.09","DOIUrl":"https://doi.org/10.21511/ee.14(1).2023.09","url":null,"abstract":"There is a growing concern about environmental issues, particularly carbon emissions, in many countries. Indonesia, with its huge population, also suffers from excessive carbon emissions. This study aims to investigate the effect of family businesses on environmental performance, specifically carbon emission disclosure. This study also explores the role of the family supervisory board and management on the quality of carbon emission disclosure. The study employed 62 non-financial family-listed firms in 2017–2019 (186 observations). The analysis found a positive and significant relationship between family enterprises and the disclosure of carbon emissions, implying that family firms expose more information about their carbon emissions. It also revealed a significant positive association between the family supervisory board and carbon emission performance, suggesting that having family members on the supervisory board aligns with policies for reducing and maintaining accountability for carbon emissions. In summary, the findings suggest that family enterprises prefer to exercise their indirect control by holding a position on the supervisory board and owning a substantial percentage of the company’s stock corresponding to their socio-emotional wealth agenda. Additionally, there is a non-linear association between family firms and the disclosure of carbon emissions. Carbon emission performance decreases as family share ownership rises to 53.1% but increases when family equity exceeds this cut-off point. Finally, family shareholders in non-polluted firms report higher quality of carbon emission disclosure.","PeriodicalId":52974,"journal":{"name":"Environmental Economics","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-06-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"41669610","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Why should the carbon tax be floating? A Tobin’s Q model applied to green investment","authors":"N. Piluso","doi":"10.21511/ee.14(1).2023.08","DOIUrl":"https://doi.org/10.21511/ee.14(1).2023.08","url":null,"abstract":"The carbon market reform is controversial because the modalities of carbon pricing foreseen risk reducing the performance of companies and negatively affecting the economy. The objective of this paper is to show that the carbon tax can be floating and adapt to the economic situation while maintaining its ecological efficiency. Herein, Tobin’s Q model, which has become a standard in the literature for explaining the investment decision, is applied to the green investment decision. A carbon tax is introduced into the firm’s maximization program to see how carbon pricing changes the outcome of the traditional model. The model shows that green investment depends on the sum of the stock price and the carbon price, which suggests the possibility of modulating this amount according to the upward or downward trend of the stock price to avoid permanently penalizing the competitiveness of firms. The study also demonstrates how the financial market is likely to value green investments and that such investments will likely generate shareholder value through several channels. Indeed, green investments impact the firm’s turnover and the minimum income required by the shareholder. Such a modulation of the carbon tax according to the economic cycle would make reconciling ecological and economic efficiency possible.","PeriodicalId":52974,"journal":{"name":"Environmental Economics","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-06-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42014473","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}