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Does Environmental Strategy Improve Financial Performance ? A Meta-Analytical Review

Author

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  • Elisabeth Albertini

    (IAE Paris - Sorbonne Business School)

Abstract

The relationship between corporate environmental and financial performance has received a high degree of attention in research literature and the results are still contradictory. Empirical research has revealed that companies have implemented different types of environmental strategies in order to improve their environmental performance and, as a result, their financial performance. We conducted a meta-analysis and a meta-regression of 52 prior studies which confirms a significant and positive relationship between pro-active environmental strategy and financial performance, and between environmental disclosure and financial performance. This meta-analysis answers the question: ?Does it pay to be green?? in the affirmative.

Suggested Citation

  • Elisabeth Albertini, 2012. "Does Environmental Strategy Improve Financial Performance ? A Meta-Analytical Review," Post-Print halshs-02082476, HAL.
    • Handle: RePEc:hal:journl:halshs-02082476
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    Cited by:

    1. Olga Goncalves & Elisabeth Robinot & Hélène Michel, 2015. "Does It Pay to Be Green? The Case of French Ski Resorts," Post-Print hal-01591790, HAL.
    2. Justyna Fijalkowska & Beata Zyznarska-Dworczak & Przemyslaw Garsztka, 2017. "The Relation between the CSR and the Accounting Information System Data in Central and Eastern European (CEE) Countries – The Evidence of the Polish Financial Institutions," Journal of Accounting and Management Information Systems, Faculty of Accounting and Management Information Systems, The Bucharest University of Economic Studies, vol. 16(4), pages 490-521, December.
    3. Olga Goncalves & Elisabeth Robinot & Hélène Michel, 2015. "Does It Pay to Be Green? The Case of French Ski Resorts," Grenoble Ecole de Management (Post-Print) hal-01591790, HAL.
    4. Andrea Szalavetz, 2017. "The Environmental Impact of Advanced Manufacturing Technologies: Examples from Hungary," Central European Business Review, Prague University of Economics and Business, vol. 2017(2), pages 18-29.

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