Unraveling the complex relationship between environmental and financial performance ─── A multilevel longitudinal analysis

Untitled

“…The other thing from the results of this test is that financial performance has a significant positive effect on environmental disclosure because the coefficient value is positive and the value is significant <0.05 so that the second hypothesis related to financial performance that is positively influenced by environmental disclosure is accepted. These results are in line with research conducted by Danso (2019), Liu (2020), Tzouvanas (2019) and Petitjean (2019) where environmental performance is positively related to financial performance (Danso et al, 2019;Liu, 2020;Petitjean, 2019;Tzouvanas et al, 2019). Companies that care about the environment will get financial added value for a company, and it is a positive signal for investors in considering decision making so that it can provide positive values that will increase company profitability which is a measure of corporate financial performance (Danso et al, 2019).…”

“…This is an activity of companies that care about the environment and provide added value to a company, and it is a positive signal for investors in considering decision making so that it can provide positive values that will increase company profitability which is a measure of corporate financial performance (Danso et al, 2019). The results of research by Liu (2020) and Tzouvanas (2019) show that financial performance is positively influenced by environmental performance (Liu, 2020;Tzouvanas et al, 2019). In addition, the influence of leadership integration (Danso et al, 2019) will improve environmental performance which in turn will improve financial performance especially during crises (Petitjean, 2019).…”

“…One of the successes of a company is financial stability where the company is able to generate profits, increase capital value and pay shortterm and long-term obligations (Myšková & Hájek, 2017). Activities related to financial performance include environment activity (Danso et al,2019, Liu, 2020, Petitjean, 2019, Tzouvanas et al, 2019, Wang & Yang, 2020, stakeholder policies in companies (Baah, Jin, & Tang, 2020), energy efficiency (Moon & Min, 2020), corporate governance ( Al-ahdal et al, 2020), networks rich in diverse business ties (Etriya, 2019), corporate social responsibility (CSR) (Franco et al, 2019;Petitjean, 2019), non-financial performance measures (Gan, Park, & Suh, 2020), efficient sustainable financial practice activities (Jan et al, 2019), digital business strategies (Ukko et al, 2019), company characteristics, age of management, team size, international experience, government background, education level, (Ma et al, 2019), innovation (Rezende et al, 2019), supply chain dynamics (Yu et al, 2019), individual transferable quotas (ITQs) in the fisheries economy (Edwards & Pinkerton, 2020), quality management (Franco et al, 2019), epidemic diseases (Kim et al, 2020), gender (Valls Martínez & Cruz Rambaud, 2019), heterogeneity of knowledge of top management, ownership structure (Cui et al, 2019), stakeholder integration (Danso et al, 2019), good corporate governance (GCG) (Iqba et al, 2019), company size (Lin et al, 2019), dan intellectual capital (Sardo et al, 2018). Of all these activities, activities that are still interesting to study and relate to financial performance are environmental activity.…”

“…all. (2019), Liu (2019) which states that financial performance is positively influenced by environmental performance (Liu, 2020;Tzouvanas et al, 2019), Danso et. all.…”

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.…”