A Note on the Impact of Environmental Performance on Financial Performance

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Abstract

Conventional estimates of the relationship between corporate environmental performance (CEP) and corporate financial performance (CFP) are typically based on simple OLS regression. In this paper, I test whether this relationship holds using median regression analysis that is more robust to the presence of outliers and unobserved firm heterogeneity. Based on panel data for British companies, I find that the relationship between CEP and CFP is stronger when median regression are used.
Original languageEnglish
Pages (from-to)413-421
JournalStructural Change and Economic Dynamics
Volume16
Issue number3
Early online date9 Jul 2004
DOIs
Publication statusPublished - 1 Sep 2005
Externally publishedYes

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