Influence of Financial Conditions on the Environmental Information Disclosure of Construction Firms

Wang, Ge; Zeng, Saixing; Xia, Bo; Wu, Guangdong; Xia, Dongtao

doi:10.1061/(asce)me.1943-5479.0000982

Cited by 17 publications

(23 citation statements)

References 110 publications

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“…This discussion ties in with focusing on one of the dimensions of the triple bottom line since the sustainability concept is often considered a triple bottom line framework which incorporates the three dimensions of performance as environmental, social, and financial [57]. There has been a lot of work published on the social and environmental dimensions of sustainable construction, but considerably less work on the financial dimension, especially when considering the market performance of GBC [7,8,20,[58][59][60]. Thus, this paper's novel contribution is that it started the critical discussion of the financial aspects of sustainable construction, particularly focusing on and identifying the increasing revenues generated from sustainable construction and making this new information available to construction firms.…”

Section: Discussion and Limitationsmentioning

confidence: 99%

“…An interesting study in South Africa shows that the need for green buildings exists due to economic factors such as reducing the cost of energy, being recognized by industry rating systems, and competitive advantages rather than ecological factors [6]. A recent study by Wang et al investigated whether construction firms with good financial conditions devote more resources to environmental activities [7]. They concluded that financial performance does not significantly impact environment information disclosure (the metric they used to measure the firm's environmental activities).…”

Section: Literature Review 21 Sustainable Development and The Busines...mentioning

confidence: 99%

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Green Building Contractors 2025: Analyzing and Forecasting Green Building Contractors’ Market Trends in the US

2022

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With population growth, the demand for building construction is continuously increasing. This comes at the price of the built environment where the building sector is contributing to large energy consumption and carbon footprint releases. To encourage sustainable construction, contractors need to see the market benefit of “going green”. Previous studies of green building contractors (GBCs) mainly relied on qualitative discussions and lacked studying the market performance which drives contractors’ decisions the most. This paper collects GBC revenue data from the Engineering News-Record magazine for the top 100 GBCs over a 13-year period and performs trend analysis to assess the market performance of GBCs and time series analysis to forecast future revenues. In addition, k-means clustering technique was used to divide the firms into subsets of similar behavior to understand growth trends for different firm sizes. The results show a continuous increase in green building revenues (GBRs), where commercial office buildings contribute the most to it. Furthermore, the firm ranks responsible for most of the growth are identified; mainly the top 9. Predictions show the expected steady increase in GBR in the upcoming years which is anticipated to reach 83 billion USD in 2025. The findings inform contractors considering executing green buildings by understanding the market trends and forecasted revenues. Moreover, contractors who are already in the green building business can use this information to increase their revenues in their respective market subset.

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Section: Discussion and Limitationsmentioning

confidence: 99%

Section: Literature Review 21 Sustainable Development and The Busines...mentioning

confidence: 99%

Green Building Contractors 2025: Analyzing and Forecasting Green Building Contractors’ Market Trends in the US

2022

View full text Add to dashboard Cite

show abstract

“…In turn, corporate value is closely linked to total corporate profits and return on net assets (Modigliani and Miller, 1958). When the corporate value is higher, enterprises can establish a good image of sound corporate operations as well as a greater public trust, which will lead to greater popularity of their products, which will result in increased corporate financial performance (Ioannou and Serafeim, 2012;Wang et al, 2022). Green credit policy can influence the borrowing ability and financing cost of enterprises (He et al, 2019a).…”

Section: Mediating Effect Of Short-term Debt and Long-term Debtmentioning

confidence: 99%

How green credit policy shapes financial performance: Evidence from Chinese listed construction energy-saving enterprise

2022

Front. Environ. Sci.

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This study uses the introduction of the Green Credit Guidelines in 2012 as a quasi-natural experiment. We selected Chinese A-share listed enterprises from 2004 to 2020 as the sample and applied PSM-DID to examine the impact of green credit policy on the performance of construction energy-saving enterprises. The study revealed that: 1) green credit policy has a significant contribution to the performance of construction energy-saving enterprises. In addition, it still holds after the robustness tests (replacing the PSM matching method and adding or subtracting the two methods of control variables) and the placebo test. 2) A positive correlation between the performance of construction energy-saving enterprises and short-term debt. Meanwhile, short-term debt is a mediating variable between green credit policy and the performance of construction energy-saving enterprises. 3) The impact of green credit policy on the performance of non-state-owned (non-SOEs) is more pronounced compared to state-owned (SOEs). This study reveals the micro effects of green credit policy from the perspective of the performance of construction energy-saving enterprises. It not only helps to understand the economic effects of green credit policy, but also provides corresponding insights for the subsequent promotion of green credit policy and construction energy-saving enterprise development systems.

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“…However, for supply chains with a relatively high cooperation structure, an excessive carbon tax will reduce the effect of carbon emission reduction, so a high carbon tax is more effective for decentralized supply chains. Meanwhile, it is notable for the public departments to establish a mandatory regulatory platform and incentive market mechanism for firms' environmental information disclosure (Wang et al, 2022).…”

Section: Green Supply Chain Managementmentioning

confidence: 99%

The Impact of Government Behaviors on the Transition Towards Carbon Neutrality in the Construction Industry: A Perspective of the Whole Life Cycle of Buildings

Tang

Gong

Liu

2022

Front. Environ. Sci.

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The carbon-intensive economy has dramatically caused global climate changes and profoundly impacted humankind. As one of the largest energy consumers, carbon emissions in the construction industry (CECI) play a crucial role in achieving the carbon neutrality goal. Government behaviors could significantly affect CECI. However, few studies have comprehensively reviewed existing literature regarding the effect of government instruments on triggering carbon reduction. A total of 1,082 papers about CECI from 51 countries/regions were retrieved in this study, while 296 relevant articles on the government behaviors in CECI were collected to conduct further analysis. Based on the bibliometric analysis with CiteSpace, the co-occurrence networks of countries/regions, institutions, keywords and cluster analysis are applied to illustrate the characteristics of previous studies. Furthermore, a research framework has been formulated to review the impact of government behaviors on CECI during the life cycle of buildings. The result indicated that government behaviors could affect CECI through three stages, i.e., material production, construction and operation, which is considered the transmission path of government behaviors towards CECI. Moreover, the findings revealed that government behaviors present the most significant impact on CECI in the following sectors: 1) the green supply chain management and waste recycling in the material production stage; 2) the green building decisions and the adoption of off-site construction in the construction stage; 3) energy conservation behaviors and green retrofit decisions in the operation stage. Finally, this study discusses prior study gaps and provides potential directions for future research.

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Influence of Financial Conditions on the Environmental Information Disclosure of Construction Firms

Cited by 17 publications

References 110 publications

Green Building Contractors 2025: Analyzing and Forecasting Green Building Contractors’ Market Trends in the US

Green Building Contractors 2025: Analyzing and Forecasting Green Building Contractors’ Market Trends in the US

How green credit policy shapes financial performance: Evidence from Chinese listed construction energy-saving enterprise

The Impact of Government Behaviors on the Transition Towards Carbon Neutrality in the Construction Industry: A Perspective of the Whole Life Cycle of Buildings

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