The impact of financial performance on environmental policy: does firm life cycle matter?

Khaled Kadry Elsayed · David Paton

105 citations0/0 files storedBusiness Strategy and the Environment

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Corporate Social Responsibility Reporting Environmental Sustainability in Business Energy, Environment, Economic Growth

Abstract

Abstract Existing literature has provided inconclusive evidence regarding the impact of financial performance on firm policy relating to environmental issues. In this paper, we propose that the influence of corporate financial performance on corporate environmental policy is unlikely to be monotonic but, rather, will vary with firm life cycle. We test this hypothesis by the application of static and dynamic techniques on panel data from UK companies. The results provide support for our hypotheses that financial performance has the strongest impact on environmental policy in the maturity stage of the firm life cycle and the weakest impact in the rapid growth stage. Copyright © 2007 John Wiley & Sons, Ltd and ERP Environment.

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References

1976Theory of the firm: Managerial behavior, agency costs and ownership structure 1991Firm Resources and Sustained Competitive Advantage 2004Firm resources and sustained competitive advantage 1991Some Tests of Specification for Panel Data: Monte Carlo Evidence and an Application to Employment Equations 2021Econometric Analysis of Panel Data 2001Corporate Social Responsibility: A Theory of the Firm Perspective 1997THE CORPORATE SOCIAL PERFORMANCE-FINANCIAL PERFORMANCE LINK 1990WHAT'S IN A NAME? REPUTATION BUILDING AND CORPORATE STRATEGY.

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