Linking Corporate Green Performance and Financial Performance – An Evidence from European, American and Chinese Comparison

• Main Authors: Hsieh, Hsiao-Yu, 謝筱俞
• Other Authors: Chu, Po-Young
• Format: Others
• Language: zh-TW
• Published: 2015
• Online Access: http://ndltd.ncl.edu.tw/handle/50351754985603793590

碩士 === 國立交通大學 === 管理科學系所 === 103 === At a response to the climate change and resource shortage issues, sustainability management has become an important policy among the whole world. Major carbon emission countries have set corresponding emission reduction targets and developed relevant sustainable policies for pursuing the sustainable development of environment, economics and society. This study is to investigate the relationship between environmental performance and financial performance of enterprises, adopting the Green Ranking revealed by Newsweek as environmental performance. Moreover, an empirical study probing into the comparison between European, American and Chinese companies in conducted. The result shows that there is a significant positive relationship between environmental performance and financial performance. European companies’ environmental performance is better than that of other countries, derived from its relatively strict constitution and policies. While the financial performance of European companies is less impressive than Americans’, they still keep their competency by investing in green. Chines companies would turn into low carbon economies in the future. However, there is no significant positive relationship between environmental performance and financial performance in Chinese companies. From the observation of the past pollution incident in China, the companies usually gave substantial settlement for compensation instead of improving the root causes. Hence, there is still a plenty room for improvement in developing sustainable valuation for Chinese.