Environmental Investment and Firm Performance: The Moderating Role of Distance from Bankruptcy

DOI

10.2991/icmesd-19.2019.26How to use a DOI?

Keywords

Environmental investment, Distance from bankruptcy, Firm performance.

Abstract

Based on the stakeholder theory and the prospect theory, our study investigates into the relationship between environmental investment and firm performance. Thus, using panel data of 255 GEM listed firms from 2011 to 2016,we show that there is no significant correlation between environmental investment and short-term performance; the environmental investment promotes long-term performance; Distance from bankruptcy has no moderating effect on the relationship between environmental investment and short-term performance; Distance from bankruptcy negatively moderates the relationship between environmental investment and long-term performance; The findings are helpful for firms to improve the effectiveness of environmental decision-making.

Copyright

© 2019, the Authors. Published by Atlantis Press.

Open Access

This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).

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TY  - CONF
AU  - Li-Tian Chen
AU  - Yu-Ting Cao
PY  - 2019/07
DA  - 2019/07
TI  - Environmental Investment and Firm Performance: The Moderating Role of Distance from Bankruptcy
BT  - Proceedings of the 5th Annual International Conference on Management, Economics and Social Development (ICMESD 2019)
PB  - Atlantis Press
SP  - 175
EP  - 180
SN  - 2352-5428
UR  - https://doi.org/10.2991/icmesd-19.2019.26
DO  - 10.2991/icmesd-19.2019.26
ID  - Chen2019/07
ER  -