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Did the Financial Crisis Affect Environmental Efficiency? Evidence from the Japanese Manufacturing Sector

Author

Listed:
  • Fujii, Hidemichi
  • Assaf, A. George
  • Managi, Shunsuke
  • Matousek, Roman

Abstract

This study examined the impact of the financial crisis on the environmental and technical efficiencies of the Japanese manufacturing industry. Overall, we found that while the crisis had a negative impact on technical efficiency it did not affect environmental efficiency- the only exception was the transportation equipment sector which improved its environmental efficiency following the crisis. Additionally, we found that capital intensity does not necessarily affect environmental efficiency. We discuss the implications of these findings and provide directions for future research.

Suggested Citation

  • Fujii, Hidemichi & Assaf, A. George & Managi, Shunsuke & Matousek, Roman, 2015. "Did the Financial Crisis Affect Environmental Efficiency? Evidence from the Japanese Manufacturing Sector," MPRA Paper 66363, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:66363
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    References listed on IDEAS

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    4. Hidemichi Fujii & Kazuyuki Iwata & Shinji Kaneko & Shunsuke Managi, 2013. "Corporate Environmental and Economic Performance of Japanese Manufacturing Firms: Empirical Study for Sustainable Development," Business Strategy and the Environment, Wiley Blackwell, vol. 22(3), pages 187-201, March.
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    Cited by:

    1. Fujii, Hidemichi & Managi, Shunsuke, 2019. "Decomposition analysis of sustainable green technology inventions in China," Technological Forecasting and Social Change, Elsevier, vol. 139(C), pages 10-16.
    2. Paunić, Alida, 2016. "Brazil, Preservation of Forest and Biodiversity," MPRA Paper 71462, University Library of Munich, Germany.
    3. Fujii, Hidemichi & Cao, Jing & Managi, Shunsuke, 2016. "Firm-level environmentally sensitive productivity and innovation in China," Applied Energy, Elsevier, vol. 184(C), pages 915-925.
    4. Hidemichi Fujii & Kentaro Yoshida & Ken Sugimura, 2016. "Research and Development Strategy in Biological Technologies: A Patent Data Analysis of Japanese Manufacturing Firms," Sustainability, MDPI, vol. 8(4), pages 1-15, April.

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    More about this item

    Keywords

    Environmental Efficiency; Technical Efficiency; Financial Crisis; Bayesian Stochastic Frontier;
    All these keywords.

    JEL classification:

    • G01 - Financial Economics - - General - - - Financial Crises
    • O47 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Empirical Studies of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence
    • Q54 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Climate; Natural Disasters and their Management; Global Warming
    • Q57 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Ecological Economics

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