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Cited by 543

The DOI matches its Crossref record; 88 of the 88 references it cites were found in a registry or an index.

Too Little or too much? Exploring U‐shaped Relationships between Corporate Environmental Performance and Corporate Financial Performance

Trumpp, Christoph, Guenther, Thomas·2017·Business Strategy and the Environment
DOI 10.1002/bse.1900
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Abstract

Despite 40 years of research on the relationship between corporate environmental performance (CEP) and corporate financial performance (CFP), there is no generally accepted theoretical framework that explains the contradictory results that have emerged. This unsatisfactory status may be attributed to the fact that linear models dominate the research. Based on an international sample of 2361 firm‐years from 2008 to 2012, we find empirical evidence of a non‐linear, specifically a U‐shaped, relationship between carbon performance and profitability as well as between waste intensity and profitability. The same result holds for the relationship between carbon performance and stock market performance, but solely for manufacturing industries. Our empirical findings provide evidence for the theoretical framework of a ‘too‐little‐of‐a‐good‐thing’ (TLGT) effect, which indicates that the type of relationship (positive, negative) depends on the level of CEP. More precisely, there is a negative CEP–CFP relationship for companies with low CEP and a positive association for high CEP. Copyright © 2015 John Wiley & Sons, Ltd and ERP Environment

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Metadata

Authors
Trumpp, C., & Guenther, T.
Venue
Business Strategy and the Environment
Publisher
Wiley
Published
2015-08-22
Volume
26
Issue
1
Pages
49-68
ISSN
  • 0964-4733 (ISSN-L)
  • 1099-0836
DOI
10.1002/bse.1900
OpenAlex
W1828434045
Cited by
543
References
88
FWCI
37.44
Type
journal article
Language
en
Open access
closed

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