Abstract: Many studies have investigated the relationships among environmental management, financial performance and other firm attributes. Their results are inconsistent and contested. Most of the empirical studies to date are in the context of developed countries rather than developing countries. This study fills this gap by providing an empirical examination of the relationships among environmental management, firm value and other firm attributes in the Chinese context. In addition, this study is the first study of Chinese firms to use panel data analysis methods in the examination of the impact of environmental management on firm value. The results of panel data analysis show that environmental management has no significant impact on firm value. Pearson tests show that prior financial performance does not affect the level of environmental management. Rather, firm size is shown to be positively correlated with the level of environmental management.
- Inderscience Publishers
- The relationships among environmental management, firm value and ...
Environmental Impact does NOT equal risk
Auditing the new ISO 14001:2015: Environment Impacts does not equalRisk In recent transition audits, there has been one common misconception that I have seen repeated, and that is that environmental impacts are risks. This is not correct. Environmental impacts do not equal risk. Let’s start with the definition of environmental impact from the ISO 14001:2015 standard. “3.2.4 – environmental impact: change to the environment, whether adverse or beneficial, wholly or partially resulting from an...
Three Strategic Options for Managing Acquired Environmental Liabilities
Evaluating Through a Finance Lens As companies strive to remain competitive and profitable in today’s uncertain economy, asset transactions continue to play a leading role in their efforts to transform, adapt and re-invent themselves. A well-thought out and well-executed acquisition can bask even the most gloomy of balance sheets in sunshine by bringing rapid revenue growth, added geographic coverage, a complimentary value offering to customers or even entry to a more favorable space in a competitive...
An environmental perspective on the water management policies of the Upper Delaware River Basin
Since 1954, the Delaware River has been managed under the framework of a Supreme Court decree and the subsequent concomitant intergovernmental collaboration between New York State, New Jersey, Pennsylvania, Delaware, New York City (NYC) and the US federal government. Taking an environmental perspective, we review the evolution of water release policies for three NYC reservoirs from the issuance of the 1954 decree through the implementation of the Flexible Flow Management Program (FFMP) of 2007–2015 and examine...
Management of pharmaceutical substances in the environment: Lithuanian case study
Investigation on the sources, discharges and related risks for the environment of the pharmaceutical substance (PhS) diclofenac (DCF) was performed in Lithuania, a country of the Baltic Sea region, for the first time. The investigation only refers to DCF as a PhS for human use; emissions from animal husbandry were not considered. In the first stage of the research, the main sources and pathways of DCF via substance flow analysis were identified within the country. During the second stage, DCF flows along the...
Environmental Liability Management for a Large American University
Challenge A large American university recently acquired a two-hundred acre hospital property for the purpose of future developments. One fifth of the property was impacted by chlorinated solvents and petroleum. Antea Group was appointed to assume the liability, return the land to residential use, and abate the migration of contaminants with minimal disruption to the campus or the hospital. Solution Antea Group’s approach to this challenge was to reduce insurance costs and better define remedial costs via...