Please use this identifier to cite or link to this item: http://scholarbank.nus.edu.sg/handle/10635/147504
Title: ENVIRONMENTAL EXPENDITURE AND FINANCIAL PERFORMANCE: MODERATING EFFECTS OF R&D AND ENVIRONMENTAL PRODUCTS
Authors: ZHAO MEIJIE
Issue Date: 2016
Citation: ZHAO MEIJIE (2016). ENVIRONMENTAL EXPENDITURE AND FINANCIAL PERFORMANCE: MODERATING EFFECTS OF R&D AND ENVIRONMENTAL PRODUCTS. ScholarBank@NUS Repository.
Abstract: This study examines the relationship between a firm’s environmental expenditure on both cost of revenue and net income. We also analyze the possible moderating effects of R&D and environmental products on the respective relationships. Our research is motivated by calls from scholars to extend the ‘does it pay to be green’ literature to find out the circumstances whereby it pays to be green. Specifically, we conduct robust regression analyses using cross-sectional environmental and financial data of S&P 500 firms from 2000 to 2014. Drawing from the resource-based view and natural resource-based view, the study focuses on how environmental and R&D capabilities can influence a firm’s financial performance. First, we argue that environmental expenditure is negatively associated with cost of revenue and positively associated with net income. Second, we argue that R&D and the presence of environmental products strengthen the abovementioned relationships. These arguments are supported by our empirical analysis with the exception of the effect of the presence of environmental products on the negative relationship between environmental expenditure and cost of revenue. More specifically, we found that the presence of environmental products results in a positive relationship between environmental expenditure and cost of revenue.
URI: http://scholarbank.nus.edu.sg/handle/10635/147504
Appears in Collections:Bachelor's Theses (Restricted)

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