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Importance Of Implementing The Green Economy Concept And Its Impact On Financial Performance Of An Enterprise

Author

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  • Bojan Krstić, Milica Tasić

    (University of Niš, Faculty of Economics)

Abstract

In the modern business environment, sustainable development is largely achieved through the implementation of the concept of the green economy, both at the global and national as well as at the corporate level. The motive for the application of this concept at the level of enterprise can be found in the numerous benefits and positive business experiences of companies that have already decided to take that step. Although there are different opinions regarding the character and direction of the following relation, it is stated that the most important reason for implementation of this concept is possible positive correlation with achieving financial performances and competitive advantage of the enterprise-implementator. One way of understanding this influence is through monitoring the implementation of environmental strategy, or through monitoring the process of environmental performance and social responsibility performance management.

Suggested Citation

  • Bojan Krstić, Milica Tasić, 2014. "Importance Of Implementing The Green Economy Concept And Its Impact On Financial Performance Of An Enterprise," Ekonomika, Journal for Economic Theory and Practice and Social Issues 2014-01, „Ekonomika“ Society of Economists, Niš (Serbia).
    • Handle: RePEc:esb:casprv:2014-107
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    References listed on IDEAS

    as
    1. Abagail McWilliams & Donald Siegel, 2000. "Corporate social responsibility and financial performance: correlation or misspecification?," Strategic Management Journal, Wiley Blackwell, vol. 21(5), pages 603-609, May.
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    More about this item

    Keywords

    green economy concept; environmental performance; social responsibility performance; economic performance;
    All these keywords.

    JEL classification:

    • Q50 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - General
    • Q56 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environment and Development; Environment and Trade; Sustainability; Environmental Accounts and Accounting; Environmental Equity; Population Growth
    • O44 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Environment and Growth

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