Resource efficiency investments and firm performance: Evidence from European SMEs

Özbuğday, Fatih Cemil; Fındık, Derya; Metin-Özcan, Kıvılcım; Başçi, Sıdıka

doi:10.1016/j.jclepro.2019.119824

Cited by 44 publications

(19 citation statements)

References 37 publications

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“…The acquired estimates do not contradict the results of the study [83], which concludes that the consideration of monetized multiple benefits can reduce the payback time of measures to increase energy efficiency by 40%-85%. There is no contradiction to the results of the study [130], which substantiates the position that investments in energy efficiency improvement significantly affect the growth and competitiveness of medium and small enterprises. The calculation results can be used further at the fourth stage of the developed sequence of works for the following purposes: first, to determine the need for resource allocation of the program and, second, to identify organizational conditions required for the implementation of the ready program.…”

Section: Analysis Of the Obtained Resultssupporting

confidence: 77%

Strategy Context of Decision Making for Improved Energy Efficiency in Industrial Energy Systems

Melnik

Ermolaev

2020

Energies

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Energy efficiency improvement in industrial companies is an essential prerequisite for the enhancement of their competitive positions in the national and global markets. Yet, the approaches currently employed in respect of the energy management do not fully utilize the innovative potential of energy technologies to achieve strategic goals. One way to further develop energy management is theoretical justification of the use of new approaches based on the suggested concept of the energy saving and energy efficiency processes’ positioning in the system of a company’s management priorities. In this article, we consider the applied use of the developed conceptual approach from the perspective of the energy saving and energy efficiency program development at the company. The main purpose of this paper is to justify the relations between energy management and strategic decision making in industrial companies. The results of the research conducted, firstly, make a certain contribution into the research of strategic multiple benefits of energy efficiency in a company; secondly, they expand understanding of the impact of energy saving and energy efficiency improvement on the achievement of operational, tactical and strategic results of the company’s activities; thirdly, they provide methodological decision support for the development of energy saving and energy efficiency programs taking into account the management and organizational barriers.

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Section: Analysis Of the Obtained Resultssupporting

confidence: 77%

Strategy Context of Decision Making for Improved Energy Efficiency in Industrial Energy Systems

Melnik

Ermolaev

2020

Energies

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“…Wen and Lee [ 37 ] found that Chinese manufacturing enterprises augmented their financial performance and productivity after gathering environmental labeling certification due to the intervention effect. Özbuğday, Fındık, Özcan, and Başçı [ 40 ] documented a positive effect of resource efficiency investments on small and medium-sized enterprises’ sales growth. Agovino et al [ 92 ] found that recycling rates of packaging, e-waste, and bio-waste positively influenced enterprise competitiveness in Europe.…”

Section: Related Literature Theoretical Framework and Hypotheses mentioning

confidence: 99%

“…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 ].…”

Section: Introductionmentioning

confidence: 99%

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

Simionescu

Gherghina

Sheikha

et al. 2020

IJERPH

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This paper aimed to investigate the impact of water, waste, and energy consumption on firm performance for a sample of enterprises that belong to the S&P 500 Information Technology sector over the period of 2009–2020. The quantitative framework covered both accounting (e.g., return on assets—ROA; return on common equity—ROE; return on capital—ROC; return on invested capital—ROIC) and market-based measures of performance (e.g., price-to-book value—PB), alongside firm and corporate governance specific variables. By estimating multivariate panel data regression models, the empirical results provided support for a negative impact of total water use on PB but a positive effect on ROA. With reference to the total waste, the econometric outcomes revealed a negative influence on the entire selected performance measures, whereas total energy consumption did not reveal any statistically significant influence.

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“…2. Investment strategy -rational use of financial resources of an enterprise (correct distribution of financial resources depending on the directions and forms of investment, taking into account the criterion of risk/return ratio) [18,19,21].…”

Section: Methodsmentioning

confidence: 99%

Organizational and methodological approach to managing financial flows of agricultural enterprises

et al. 2020

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Management accounting and management of an agricultural enterprise includes strategic planning and regulation of financial flows. Therefore, at the present stage, the development of measures to develop management accounting and improve the management of financial flows of agricultural enterprises is a significant problem. Management accounting and management of financial flows is the management of cash (financial) flows arising in the process of promotion of tangible and intangible assets. Besides, in the process of management accounting there is a purposeful distribution of financial resources in the logistic financial system of an agricultural enterprise. Management of financial flows is carried out both for the internal environment of the agricultural enterprise and for the external environment. The aim of the article is the justification of theoretical provisions and development of organizational and methodical approach to management of financial flows of agricultural enterprises in the system of management accounting. Objectives of the research: to determine the main components, directions and mechanism of development in the management accounting of financial strategy; to develop a method of management accounting for management of financial flows of developing enterprises, planning to expand their activities in the long term.

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Resource efficiency investments and firm performance: Evidence from European SMEs

Cited by 44 publications

References 37 publications

Strategy Context of Decision Making for Improved Energy Efficiency in Industrial Energy Systems

Strategy Context of Decision Making for Improved Energy Efficiency in Industrial Energy Systems

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

Organizational and methodological approach to managing financial flows of agricultural enterprises

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