scholarly journals Environmental Management System and Performance in SMEs. Evidence from the Abruzzo Region

2021 ◽  
pp. 79-97
Author(s):  
Danilo Boffa
Keyword(s):  
Environmental Management ◽  
Financial Performance ◽  
Management System ◽  
Geographical Location ◽  
Signaling Theory ◽  
Total Sample ◽  
Potential Effect ◽  
Environmental Management System ◽  
Control Group ◽  
Abruzzo Region

Abstract The paper aims at investigating the potential effect on economic and financial performance caused by the adoption of an environmental management system ISO14001certification, by SMEs in Abruzzo region, which represent a significative case study due to the environmental capital that characterizes the whole region. From the Signaling Theory perspective, the adoption of such international environmental management system certification “signals” to the firm’s stakeholders, the engagement in adopting a sustainable management system, contributing to reduce information asymmetry and consequently, positively influence economic and financial performance. Considering a panel dataset of a total sample of 490 SMEs located in Abruzzo (observed from 2011 and 2019), constituted by 212 ISO14001 certified firms and a control group of 278 firms, selected comparing size, age and geographical location of the main group of analysis, the results show how economic and financial performance are positively related to the adoption of an environmental management system certification. JEL classification numbers: O40, O44. Keywords: ISO14001, SMEs, Environmental Management System, Signaling Theory, Abruzzo.

scholarly journals Implication of Environmental Management System and Environmental Performance on Financial Performance of Entities with Foreign Ownership as Moderator

2021 ◽  
Vol 19 (1) ◽  
pp. 15-29
Author(s):  
Berwin Anggara ◽  
Vera Apri Dina Safitri ◽  
Isbahna Naz
Keyword(s):  
Environmental Management ◽  
Financial Performance ◽  
Environmental Performance ◽  
Management System ◽  
Stock Exchange ◽  
Sample Selection ◽  
Foreign Ownership ◽  
Environmental Management System ◽  
Iso 14001 ◽  
Manufacturing Companies

This research aims to examine the determination of the Environmental Management System (EMS) and environmental performance on the company's financial performance as moderated by foreign ownership in the stock structure of manufacturing companies listed on the Indonesia Stock Exchange. This research uses a quantitative method by analyzing 27 manufacturing companies listed on the IDX through purposive sampling-based sample selection, then data analysis using the moderated regression analysis method. The results showed that foreign ownership could not moderate the effect of EMS proxied by ISO 14001 certification on the financial performance of the entity proxied by ROA, but on the other hand, the structure of foreign ownership shares could positively and significantly moderate the effect of environmental performance proxied by PROPER KLHK. on the entity's financial performance. Meanwhile, if tested directly, neither EMS nor environmental performance has an effect on the company's financial performance.

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