A DEA approach for evaluating the relationship between energy efficiency and financial performance for energy-intensive firms in Korea

Does Water, Waste, and Energy Consumption Influence Firm Performance? Panel Data Evidence from S&P 500 Information Technology Sector

“…Lee et al [ 99 ] revealed that environmental performance exhibits a positive influence on return on common equity (ROE) and return on assets (ROA) for Korean enterprises. For the case of Korea, Moon and Min [ 19 ] explored 19 enterprises belonging to non-metal industries and 17 companies from the food sector and found a significant link between energy efficiency and financial performance. Fan, Pan, Liu, and Zhou [ 20 ] investigated six Chinese high-energy-consuming industries and showed a positive influence of energy efficiency on firm performance, as measured by return on equity, return on assets, return on investment, return on invested capital, and return on sales, but they also found a lack of association with Tobin’s Q. Makridou, Doumpos, and Galariotis [ 28 ] found that a decline of CO2 emissions and number of allowances exerts a positive effect on firms’ profitability.…”

“…Prior research has focused on energy efficiency and financial performance in Korea [ 19 ], China [ 20 ], Spain and Slovenia [ 21 ]; energy efficiency and productivity/exporting in Latin America [ 3 ], Ethiopia [ 22 ], and India [ 23 , 24 ]; waste and enterprise performance in Japan [ 25 ] and the US [ 26 , 27 ]; emissions and firm performance in Europe [ 28 , 29 , 30 ], Japan [ 25 ], and the US [ 26 , 31 , 32 ]; and other diverse countries worldwide [ 33 ]. Additionally, earlier studies have focused on a wide range of industries [ 2 , 27 , 30 , 32 , 33 , 34 , 35 , 36 ]; manufacturing firms [ 21 , 24 , 25 , 31 , 37 , 38 , 39 ]; manufacturing and industry [ 40 ]; manufacturing, service, and IT organizations [ 1 ]; mining and manufacturing companies [ 41 ]; energy companies [ 19 , 20 , 42 , 43 ]; fossil fuel-related and non-fossil-fuel-related industries [ 44 ]; and industrial and commercial firms [ 45 ]. Nevertheless, industries intensely diverge in their emanations, whilst a company’s environmental performance substantially hinges on its industrial positions [ 46 ].…”

Research on The Utilization Efficiency of New Energy Technologies in China

“…An empirical study of the data was carried out, and Hu [31] was used to measure the total factor energy efficiency of the Asia-Pacific Economic Corporation (APEC) countries by using the TFEE index, and constructed the quantitative analysis index of the energy saving target ratio (ESTR), which reflects the energy saving potential. Moon h and min d [32] expand the Two-stage DEA model to verify the relationship between energy efficiency and financial performance. Guo y, Yu y and Ren h [33] evaluate the energy-saving technology of the whole supply chain based on DEA and life cycle theory, and conclude that the key factors affecting energy efficiency are different under different additional considerations.…”

Analysis of Financial Performance of Pdams Affected By Environmental Performance and Environmental Accounting with Agency Cost Mediation

“…Financial performance research results indicate factors related to financial performance including CSR (Franco et al, 2019;Jahmane & Gaies, 2020;Rhou et al, 2016;Theodoulidis et al, 2017), CSP (Esteban-Sanchez et al, 2017;H. Wang et al, 2016), environment (Liu, 2020;Lucato et al, 2017;Petitjean, 2019;Tzouvanas, Kizys, Chatziantoniou, & Sagitova, 2019), digital business strategies (Ukko, Nasiri, Saunila, & Rantala, 2019), organizational and stakeholder regulation (Baah, Jin, & Tang, 2020), networking and innovation (Etriya, Scholten, Wubben, & Omta, 2019), agency cost (Gan, Park, & Suh, 2020), corporate governance (Alahdal, Alsamhi, Tabash, & Farhan, 2020), energy efficiency (Moon & Min, 2020), family involvement (Hansen & Block, 2020), and the disclosure of information contributions (S. Wang, Wang, Wang, & Yang, 2020). Based on previous research relating to financial performance, factors related to financial performance and still interesting to study are the environment and agency costs.…”