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Relation between Environmental Impact and Financial Structure of Cement Industry

Author

Listed:
  • Engin Demirel

    (Faculty of Economics and Administrative Sciences, Trakya University, Balkan Campus, Edirne 22030, Turkey)

  • lknur Eskin

    (Uzunk pr School of Applied Sciences, Trakya University, Uzunkopru Campus, Edirne 22300, Turkey)

Abstract

This study aims to investigate financial structure of cement firms, which facing environmental regulations and impacts. In this study financial ratio of 16 cement firms that are listed in Istanbul stock exchange analyzed for the years 2011-2013. The key concept of this research is related to which debt ratios and financial structure are mainly affected by environmental data at cement firms on an emerging market. We developed two equations in order to analyze the relation between environment and financial structure. We found that there is a significant relation on emission levels while there is no significant relation on carbon dioxide levels with financial ratios. Sales, gross profit margins, current ratios have positive impact on industry emission levels. Moreover, earnings before interest and tax, liquidity ratio, financial leverage ratio and accounts receivable turnover ratios have negative impact on industry emission levels.

Suggested Citation

  • Engin Demirel & lknur Eskin, 2017. "Relation between Environmental Impact and Financial Structure of Cement Industry," International Journal of Energy Economics and Policy, Econjournals, vol. 7(1), pages 129-134.
    • Handle: RePEc:eco:journ2:2017-01-14
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    Citations

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    Cited by:

    1. Francesca Di Pillo & Massimo Gastaldi & Nathan Levialdi & Michela Miliacca, 2017. "Environmental Performance Versus Economic-financial Performance: Evidence from Italian Firms," International Journal of Energy Economics and Policy, Econjournals, vol. 7(2), pages 98-108.

    More about this item

    Keywords

    Cement Industry; Environmental Impact; Financial Ratio; Panel Data Models;
    All these keywords.

    JEL classification:

    • C23 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Models with Panel Data; Spatio-temporal Models
    • G30 - Financial Economics - - Corporate Finance and Governance - - - General
    • L61 - Industrial Organization - - Industry Studies: Manufacturing - - - Metals and Metal Products; Cement; Glass; Ceramics

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