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Financial performance, environmental performance and environmental disclosure: the case of Tunisian firms

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  • Montacer Belhaj
  • Salma Damak-Ayadi

Abstract

The purpose of our study is to examine the relationship between financial performance, environmental disclosure and environmental performance of Tunisian companies. This paper adopts legitimacy theory as the theoretical perspective for explaining the environmental-financial linkage. First, we measured scores for environmental disclosure and environmental performance through the annual reports and the websites of 31 Tunisian companies. Second, we tested the relationship between these scores and the financial performance using a multiple regression analysis. The results showed that the financial performance of Tunisian companies has a negative influence on environmental performance and on environmental disclosure. Thus, the more profitable firms have low levels of environmental performance and disclose less environmental information. In contrast, Tunisian firms with poor financial performance will undertake environmental activities in order to improve their image towards their stakeholders.

Suggested Citation

  • Montacer Belhaj & Salma Damak-Ayadi, 2011. "Financial performance, environmental performance and environmental disclosure: the case of Tunisian firms," Afro-Asian Journal of Finance and Accounting, Inderscience Enterprises Ltd, vol. 2(3), pages 248-269.
    • Handle: RePEc:ids:afasfa:v:2:y:2011:i:3:p:248-269
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    Citations

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    Cited by:

    1. Ali M Gerged & Christopher J Cowton & Eshani S Beddewela, 2018. "Towards Sustainable Development in the Arab Middle East and North Africa Region: A Longitudinal Analysis of Environmental Disclosure in Corporate Annual Reports," Business Strategy and the Environment, Wiley Blackwell, vol. 27(4), pages 572-587, May.
    2. Andrew Osei Agyemang & Kong Yusheng & Angelina Kissiwaa Twum & Emmanuel Caesar Ayamba & Maxwell Kongkuah & Mohammed Musah, 2021. "Trend and relationship between environmental accounting disclosure and environmental performance for mining companies listed in China," Environment, Development and Sustainability: A Multidisciplinary Approach to the Theory and Practice of Sustainable Development, Springer, vol. 23(8), pages 12192-12216, August.
    3. Charles H. Cho & Jonathan Maurice & Emmanuelle Nègre & Marie-Anne Verdier, 2016. "Is environmental disclosure good for the environment? A meta-analysis and research agenda," Post-Print halshs-01369422, HAL.
    4. Nahg Abdul Majid Alawi & Azhar Abdul Rahman & Azlan Amran & Mehran Nejati, 2016. "Does family group affiliation matter in CSR reporting? Evidence from Yemen," Afro-Asian Journal of Finance and Accounting, Inderscience Enterprises Ltd, vol. 6(1), pages 12-30.
    5. Mohd Shoeb & Aamir Aslam & Anam Aslam, 2022. "Environmental Accounting Disclosure Practices: A Bibliometric and Systematic Review," International Journal of Energy Economics and Policy, Econjournals, vol. 12(4), pages 226-239, July.

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