Link & Naveh (2006) Link, S., & Naveh, E. (2006). Standartization and discretion: does the environmental standard ISO 14001 lead to performance benefits? IEEE Transactions on Engineering Management, 53(4), 508-519. http://dx.doi.org/10.1109/TEM.2006.883704. http://dx.doi.org/10.1109/TEM.2006.8837...
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Emissions, use of recycled materials and other environmental aspects |
Regression analysis |
The greater the standardization in managing organization environmental issues – ISO 14001 – the greater to environmental performance Environmental performance does not influence business performance |
Aragón-Correa & Rubio-López (2007) Aragón-Correa, J. A., & Rubio-López, E. (2007). Proactive corporate environmental strategies: myths and misunderstandings. Long Range Planning , 40(3), 357-384. http://dx.doi.org/10.1016/j.lrp.2007.02.008. http://dx.doi.org/10.1016/j.lrp.2007.02...
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Emissions of organic carbon |
Correlation analysis |
Environmental progress is not related to financial performance |
Nakao et al. (2007) Nakao, Y., Amano, A., Matsumura, K., Genba, K., & Nakano, M. (2007). Relationship between environmental performance and financial performance: an empirical analysis of Japanese corporations. Business Strategy and the Environment, 16(2), 106-118. http://dx.doi.org/10.1002/bse.476. http://dx.doi.org/10.1002/bse.476 ...
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Environmental management performance index (Nikkei Environmental Management Survey )
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Regression analysis |
Environmental performance of a company has positive impact over its financial performance and vice-versa |
Yang et al. (2011) Yang, M. G., Hong, P., & Modi, S. B. (2011). Impact of lean manufacturing and environmental management on business performance: an empirical study of manufacturing firms. International Journal of Production Economics, 129(2), 251-261. http://dx.doi.org/10.1016/j.ijpe.2010.10.017. http://dx.doi.org/10.1016/j.ijpe.2010.1...
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Environmental Performance (measures of perception – improvement over the past three years and in comparison to its competitors) |
Modeling of structural equations |
Lean production is positively related to environmental management practices, which are negatively related to the market and to financial performance Better environmental performance substantially reduces negative impact of environmental management practices to the marketplace and to financial performance |
Iwata & Okada (2011) Iwata, H., & Okada, K. (2011). How does environmental performance affect financial performance? Evidence from Japanese manufacturing firms. Ecological Economics, 70(9), 691-700. http://dx.doi.org/10.1016/j.ecolecon.2011.05.010. http://dx.doi.org/10.1016/j.ecolecon.20...
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Waste issue and greenhouse gas emissions |
Panel analysis |
Emission of residues, in general, has no meaningful effects on financial performance The reduction of greenhouse gases results on significant increase of financial performance in unclean industries |
Horváthová (2012) Horváthová, E. (2012). The impact of environmental performance on firm performance: short-term costs and long-term benefits? Ecological Economics, 84, 91-97. http://dx.doi.org/10.1016/j.ecolecon.2012.10.001. http://dx.doi.org/10.1016/j.ecolecon.20...
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93 air, water, and soil pollutants |
Econometric analysis |
The effect of environmental performance over financial performance is negative for the first one-year lag but becomes positive after 2 years |