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Environmental Performance Versus Economic-financial Performance: Evidence from Italian Firms

Author

Listed:
  • Francesca Di Pillo

    (Department of Enterprise Engineering, University of Rome Tor Vergata, Via del Politecnico 1, 00133 Rome, Italy,)

  • Massimo Gastaldi

    (Department of Industrial and Information Engineering & Economics, University of L Aquila, via Giovanni Gronchi 18, 67100 L Aquila, Italy,)

  • Nathan Levialdi

    (Department of Enterprise Engineering, University of Rome Tor Vergata, Via del Politecnico 1, 00133 Rome, Italy,)

  • Michela Miliacca

    (Department of Enterprise Engineering, University of Rome Tor Vergata, Via del Politecnico 1, 00133 Rome, Italy.)

Abstract

The aim of the study is to evaluate the economic-financial performance of a sample of 236 Italian companies in relation to their environmental performance, measured in terms of CO2 emissions normalized by company turnover. In addition to the company s economic management, the analysis also considers the equity structure and company liquidity, over a period of 6 years (2008-2013). The analysis involves the creation of four maps of positioning, serving to represent the companies of the sample in relation to their different attitudes: (i) Green efficiency, (ii) operational efficiency, (iii) company profitability, (iv) financial viability, (v) company liquidity. The examination of positioning maps also serves in identifying extreme cases, meaning the totally inefficient and the virtuous companies, and for conducting sectoral analyses to evaluate potential relations between company performances and the characteristics of their industrial sector.

Suggested Citation

  • 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.
    • Handle: RePEc:eco:journ2:2017-02-13
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    References listed on IDEAS

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    2. Armando Calabrese & Roberta Costa & Nathan Levialdi & Tamara Menichini & Roberth Andres Villazon Montalvan, 2020. "Does More Mean Better? Exploring the Relationship between Report Completeness and Environmental Sustainability," Sustainability, MDPI, vol. 12(24), pages 1-16, December.

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    More about this item

    Keywords

    Environment; CO2 Emission; Environmental Performance; Economic-financial Performance;
    All these keywords.

    JEL classification:

    • L6 - Industrial Organization - - Industry Studies: Manufacturing
    • Q5 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics
    • Q50 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - General
    • Q51 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Valuation of Environmental Effects

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