IDEAS home Printed from https://ideas.repec.org/p/pra/mprapa/75561.html
   My bibliography  Save this paper

Environmental performance index and economic welfare

Author

Listed:
  • Halkos, George
  • Zisiadou, Argyro

Abstract

This study relies in the proposed methodology by the Universities of Yale and Columbia for constructing an environmental performance index. Two different versions of the index are considered and compared having as reference point our country (Greece) and comparing it with other countries in the Mediterranean as well as in Northern Europe. Both versions (the one of 2014 and the other of 2016) of the index consists of two components, the environmental health and the ecosystem vitality. These two components are constructed with the help of nine variables (and nineteen indicators behind) relevant to the environment. These variables are health impact, air quality, water and sanitation, water resources, agriculture, forestry, fisheries, biodiversity and habitat and climate and energy. In the case of EPI 2016 the construction of the index has improved relying on the same two components and 9 variables but in twenty (in most cases different) indicators. Next the index is used with some socio-economic variables in order to model its behavior. The empirical findings and the associated policy implications are discussed together with future extensions.

Suggested Citation

  • Halkos, George & Zisiadou, Argyro, 2016. "Environmental performance index and economic welfare," MPRA Paper 75561, University Library of Munich, Germany.
  • Handle: RePEc:pra:mprapa:75561
    as

    Download full text from publisher

    File URL: https://mpra.ub.uni-muenchen.de/75561/1/MPRA_paper_75561.pdf
    File Function: original version
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Halkos, George E. & Jones, Nikoleta, 2012. "Modeling the effect of social factors on improving biodiversity protection," Ecological Economics, Elsevier, vol. 78(C), pages 90-99.
    2. Shameek Konar & Mark A. Cohen, 2001. "Does The Market Value Environmental Performance?," The Review of Economics and Statistics, MIT Press, vol. 83(2), pages 281-289, May.
    3. Halkos, George & Skouloudis, Antonis, 2016. "Cultural dimensions and corporate social responsibility: A cross-country analysis," MPRA Paper 69222, University Library of Munich, Germany.
    4. Fare, R. & Grosskopf, S. & Hernandez-Sancho, F., 2004. "Environmental performance: an index number approach," Resource and Energy Economics, Elsevier, vol. 26(4), pages 343-352, December.
    5. Halkos, George & Skouloudis, Antonios, 2016. "Corporate responsibility and national institutions: A quantitative assessment," MPRA Paper 70210, University Library of Munich, Germany.
    6. Patten, Dennis M., 2002. "The relation between environmental performance and environmental disclosure: a research note," Accounting, Organizations and Society, Elsevier, vol. 27(8), pages 763-773, November.
    7. Kuosmanen, Timo & Kortelainen, Mika, 2007. "Valuing environmental factors in cost-benefit analysis using data envelopment analysis," Ecological Economics, Elsevier, vol. 62(1), pages 56-65, April.
    8. Halkos, George E. & Tzeremes, Nickolaos G., 2014. "Public sector transparency and countries’ environmental performance: A nonparametric analysis," Resource and Energy Economics, Elsevier, vol. 38(C), pages 19-37.
    9. Susmita Dasgupta & Benoit Laplante & Hua Wang & David Wheeler, 2002. "Confronting the Environmental Kuznets Curve," Journal of Economic Perspectives, American Economic Association, vol. 16(1), pages 147-168, Winter.
    10. Ingram, Rw & Frazier, Kb, 1980. "Environmental Performance And Corporate Disclosure," Journal of Accounting Research, Wiley Blackwell, vol. 18(2), pages 614-622.
    11. George E. Halkos & Nickolaos G. Tzeremes, 2015. "Measuring Seaports' Productivity: A Malmquist Productivity Index Decomposition Approach," Journal of Transport Economics and Policy, University of Bath, vol. 49(2), pages 355-376, April.
    12. Esty, Daniel C. & Porter, Michael E., 2005. "National environmental performance: an empirical analysis of policy results and determinants," Environment and Development Economics, Cambridge University Press, vol. 10(4), pages 391-434, August.
    13. Zhou, Peng & Poh, Kim Leng & Ang, Beng Wah, 2007. "A non-radial DEA approach to measuring environmental performance," European Journal of Operational Research, Elsevier, vol. 178(1), pages 1-9, April.
    14. Konstantinos I. Evangelinos & George E. Halkos, 2002. "Implementation Of Environmental Management Systems Standards: Important Factors In Corporate Decision Making," Journal of Environmental Assessment Policy and Management (JEAPM), World Scientific Publishing Co. Pte. Ltd., vol. 4(03), pages 311-328.
    15. George Halkos & Aksel Sundström & Nickolaos Tzeremes, 2015. "Regional environmental performance and governance quality: a nonparametric analysis," Environmental Economics and Policy Studies, Springer;Society for Environmental Economics and Policy Studies - SEEPS, vol. 17(4), pages 621-644, October.
    16. Susmita Dasgupta & Ashoka Mody & Subhendu Roy & David Wheeler, 2001. "Environmental Regulation and Development: A Cross-country Empirical Analysis," Oxford Development Studies, Taylor & Francis Journals, vol. 29(2), pages 173-187.
    17. Esty, Daniel C. & Porter, Michael E., 2005. "National environmental performance: an empirical analysis of policy results and determinants," Environment and Development Economics, Cambridge University Press, vol. 10(4), pages 381-389, August.
    18. Panayotou, Theodore, 1997. "Demystifying the environmental Kuznets curve: turning a black box into a policy tool," Environment and Development Economics, Cambridge University Press, vol. 2(4), pages 465-484, November.
    19. Halkos, George & Matsiori, Steriani, 2012. "Determinants of willingness to pay for coastal zone quality improvement," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 41(4), pages 391-399.
    20. Al-Tuwaijri, Sulaiman A. & Christensen, Theodore E. & Hughes, K. II, 2004. "The relations among environmental disclosure, environmental performance, and economic performance: a simultaneous equations approach," Accounting, Organizations and Society, Elsevier, vol. 29(5-6), pages 447-471.
    21. Clarkson, Peter M. & Li, Yue & Richardson, Gordon D. & Vasvari, Florin P., 2008. "Revisiting the relation between environmental performance and environmental disclosure: An empirical analysis," Accounting, Organizations and Society, Elsevier, vol. 33(4-5), pages 303-327.
    22. Zhou, P. & Ang, B.W. & Poh, K.L., 2008. "Measuring environmental performance under different environmental DEA technologies," Energy Economics, Elsevier, vol. 30(1), pages 1-14, January.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Teodor Hada & Nicoleta Bărbuţă-Mişu & Teodora Maria Avram, 2019. "Theoretical and Practical Approaches to Environmental Performance," Risk in Contemporary Economy, "Dunarea de Jos" University of Galati, Faculty of Economics and Business Administration, pages 145-156.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. George Halkos & Argyro Zisiadou, 2018. "Relating environmental performance with socioeconomic and cultural factors," Environmental Economics and Policy Studies, Springer;Society for Environmental Economics and Policy Studies - SEEPS, vol. 20(1), pages 69-88, January.
    2. Dohyung Kim & Sun Go, 2020. "Human Capital and Environmental Sustainability," Sustainability, MDPI, vol. 12(11), pages 1-14, June.
    3. Isabel Gallego-Alvarez & Mª Purificación Vicente-Galindo & Mª Purificación Galindo-Villardón & Miguel Rodríguez-Rosa, 2014. "Environmental Performance in Countries Worldwide: Determinant Factors and Multivariate Analysis," Sustainability, MDPI, vol. 6(11), pages 1-26, November.
    4. 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.
    5. María Luisa Pajuelo Moreno & Teresa Duarte-Atoche, 2019. "Relationship between Sustainable Disclosure and Performance—An Extension of Ullmann’s Model," Sustainability, MDPI, vol. 11(16), pages 1-33, August.
    6. Samy Garas & Osama El-Temtamy, 2020. "The “simultaneous cycle” between corporate social responsibility and firms’ financial performance," International Journal of Disclosure and Governance, Palgrave Macmillan, vol. 17(2), pages 39-50, September.
    7. Zhang, Linhan & Tang, Qingliang & Huang, Robin Hui, 2021. "Mind the Gap: Is Water Disclosure a Missing Component of Corporate Social Responsibility?," The British Accounting Review, Elsevier, vol. 53(1).
    8. Tetsuya Tsurumi & Shunsuke Managi, 2010. "Decomposition of the environmental Kuznets curve: scale, technique, and composition effects," Environmental Economics and Policy Studies, Springer;Society for Environmental Economics and Policy Studies - SEEPS, vol. 11(1), pages 19-36, February.
    9. Mohammad Nurunnabi, 2016. "Who cares about climate change reporting in developing countries? The market response to, and corporate accountability for, climate change in Bangladesh," Environment, Development and Sustainability: A Multidisciplinary Approach to the Theory and Practice of Sustainable Development, Springer, vol. 18(1), pages 157-186, February.
    10. Jones, Michael John, 2011. "The nature, use and impression management of graphs in social and environmental accounting," Accounting forum, Elsevier, vol. 35(2), pages 75-89.
    11. Siddique, Md Abubakar & Akhtaruzzaman, Md & Rashid, Afzalur & Hammami, Helmi, 2021. "Carbon disclosure, carbon performance and financial performance: International evidence," International Review of Financial Analysis, Elsevier, vol. 75(C).
    12. Jieun Chung & Charles H. Cho, 2018. "Current Trends within Social and Environmental Accounting Research: A Literature Review," Accounting Perspectives, John Wiley & Sons, vol. 17(2), pages 207-239, June.
    13. Camélia Radu & Claude Francoeur, 2017. "Does Innovation Drive Environmental Disclosure? A New Insight into Sustainable Development," Business Strategy and the Environment, Wiley Blackwell, vol. 26(7), pages 893-911, November.
    14. Mohapatra, Sandeep & Adamowicz, Wiktor & Boxall, Peter, 2016. "Dynamic technique and scale effects of economic growth on the environment," Energy Economics, Elsevier, vol. 57(C), pages 256-264.
    15. Michael Dobler & Kaouthar Lajili & Daniel Zéghal, 2014. "Environmental Performance, Environmental Risk and Risk Management," Business Strategy and the Environment, Wiley Blackwell, vol. 23(1), pages 1-17, January.
    16. Buehn, Andreas & Farzanegan, Mohammad Reza, 2013. "Hold your breath: A new index of air pollution," Energy Economics, Elsevier, vol. 37(C), pages 104-113.
    17. Lopin Kuo & Chin‐Chen Yeh & Hui‐Cheng Yu, 2012. "Disclosure of Corporate Social Responsibility and Environmental Management: Evidence from China," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 19(5), pages 273-287, September.
    18. Claudia Poser & Edeltraud Guenther & Marc Orlitzky, 2012. "Shades of green: using computer-aided qualitative data analysis to explore different aspects of corporate environmental performance," Metrika: International Journal for Theoretical and Applied Statistics, Springer, vol. 22(4), pages 413-450, January.
    19. Charles H. Cho & Martin Freedman & Dennis M. Patten, 2009. "Corporate Disclosure Of Environmental Capital Expenditures: A Test Of Alternative Theories," Post-Print halshs-00459410, HAL.
    20. Shoaib Aslam & Mohamed H. Elmagrhi & Ramiz Ur Rehman & Collins G. Ntim, 2021. "Environmental management practices and financial performance using data envelopment analysis in Japan: The mediating role of environmental performance," Business Strategy and the Environment, Wiley Blackwell, vol. 30(4), pages 1655-1673, May.

    More about this item

    Keywords

    Environmental performance index; economic welfare.;

    JEL classification:

    • D60 - Microeconomics - - Welfare Economics - - - General
    • Q01 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - General - - - Sustainable Development
    • Q50 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - General
    • Q58 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environmental Economics: Government Policy

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:pra:mprapa:75561. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: . General contact details of provider: https://edirc.repec.org/data/vfmunde.html .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Joachim Winter (email available below). General contact details of provider: https://edirc.repec.org/data/vfmunde.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.