企业碳与财务绩效再探

IF 4.2 4区 管理学 Q1 ENVIRONMENTAL STUDIES
T. Busch, A. Bassen, Stefan Lewandowski, Franziska Sump
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引用次数: 41

摘要

为了评估Delmas、Nairn-Brich和Lim研究结果的稳健性和敏感性,我们进行了一项复制和扩展研究。在复制中,我们使用了他们的研究设计,但分析了另一个时间框架。在我们的扩展中,我们进一步扩大了地理范围,并使用了另一种碳性能指标以及一组不同的控制变量。我们发现,碳排放量越高,短期财务业绩越高,这一发现非常有力。相比之下,我们还发现了强有力的证据,证明更高的碳排放量与更高的长期财务业绩有关。这一结果得到了一些补充分析和稳健性检查的支持。我们为关于应对重大挑战的辩论提供了理论启示。由于企业减少碳排放似乎会对财务业绩产生负面影响,我们强调,显然需要进一步的政策干预,为低碳经济铺平道路。
本文章由计算机程序翻译,如有差异,请以英文原文为准。
Corporate Carbon and Financial Performance Revisited
To assess the robustness and sensitivity of the findings in Delmas, Nairn-Brich, and Lim, we conduct a replication and an extension study. In the replication, we use their research design but analyze another time frame. In our extension, we furthermore expand the geographical scope, and use another carbon performance measure as well as a different set of control variables. We show that the finding that higher carbon emissions are associated with higher short-term financial performance is very robust. By contrast, we also find strong evidence for higher carbon emissions being associated with higher long-term financial performance. This outcome is supported by several supplementary analyses and robustness checks. We derive theoretical implications for the debate on tackling grand challenges. Since there seem to be negative financial performance implications for firms reducing carbon emissions, we highlight a clear need for further policy intervention to pave the way for a low-carbon economy.
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来源期刊
CiteScore
11.20
自引率
5.70%
发文量
19
期刊介绍: Organization & Environment encourages informed discussion about the social roots and consequences of environmental problems and stimulates deeper reflection on the meaning and significance of the natural world. By critically examining the impact of human production and consumption systems on the natural environment, Organization & Environment develops new perspectives on organizations that encourage environmentally sensitive reflection, inquiry, and practice.
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