Eco-efficiency and firm value of Malaysian firms

Ahmad, Ayoib Che; Osazuwa, Nosakhare Peter

doi:10.1504/ijmfa.2015.074902

Cited by 4 publications

(2 citation statements)

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“…Research (Alviani & Sholihin, 2016) found that implementing eco-efficiency can reduce a company's cost of capital. However, similar to research (Ahmad & Osazuwa, 2015), this study also measures eco-efficiency by adopting ISO 14001. Research (Purwaningsih et al, 2021) found that company actions by investing in renewable energy and reducing emissions benefit stakeholders economically.…”

Section: Literature Reviewmentioning

confidence: 93%

“…On a different side, research conducted on textile companies in Brazil found that the higher the company's profit, the worse its environmental performance, as indicated by the greater its eco-efficiency ratio. Ahmad and Osazuwa (2015), researching the relationship between eco-efficiency and firm value in companies in Malaysia, found that eco-efficiency is positively related to firm value. However, in this study, ecoefficiency is measured by a dummy, namely companies that are eco-efficient and not.…”

Section: Literature Reviewmentioning

confidence: 99%

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Eco-Efficiency and Financial Performance: Empirical Evidence of Companies in Indonesia

Meutia,

Kartasar

2023

integr. j. of. bus. and. econ.

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This study aims to identify and analyze energy consumption and emissions produced by companies listed on the Indonesia Stock Exchange after the Circular Letter of The Financial Services Authority number 16 of 2021 regarding the obligation to prepare Sustainability Reports. In addition, this study tries to provide evidence regarding the relationship between eco-efficiency and company financial performance. The research population is all companies listed on the Indonesia Stock Exchange in 2021 and 2022. The research sample is a company that has prepared separate sustainability reports and has energy consumption and emission data for 134 companies. This study documents that energy efficiency and emissions significantly impact ROA in all sectors, including sensitive industries. This research supports the stakeholder theory in the context that companies responsible for balancing all stakeholders' interests can lead to long-term success and sustainability.

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Section: Literature Reviewmentioning

confidence: 93%

Section: Literature Reviewmentioning

confidence: 99%

Eco-Efficiency and Financial Performance: Empirical Evidence of Companies in Indonesia

Meutia,

Kartasar

2023

integr. j. of. bus. and. econ.

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Environmental Responsiveness and Firm Value: Evidence from Nigeria

Soyemi

Okewale

Olaniyan

2021

Acta Universitatis Sapientiae, Economics and Business

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This paper examines the effects of environmental responsiveness on firm value in Nigeria and provides an insight into the feasibility of corporate entities engaging with the United Nations’ sustainable development agenda, without compromising their wealth creation agenda. Secondary data were gathered from annual reports and audited accounts of 83 quoted non-financial firms for three years covering the period of 2016–2018. Thereafter, a regression analysis using the Ohlson value relevant model for price valuation was done. Results of the empirical analysis confirm the positive influence of value relevance of book values, earnings per share, alongside environmental responsiveness and firm size on the firm value of Nigerian firms, while leverage is inversely related. Remarkably too, firms with higher values tend towards being environmentally responsive. Impliedly, there is an empirical evidence of reverse causality between firm value and environmental responsiveness.

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