CO2 Emissions and Financial Performance of Socially Responsible Firms: An Empirical Survey
基于GARCH模型分析社会责任企业与传统企业的数据，发现社会责任企业的财务绩效与全球二氧化碳排放增加呈负相关，可能源于环保政策成本和投资者态度。
ABSTRACT A firm's financial performance is closely related to its environmental behavior. This result is valid especially in the case of socially responsible firms. In the present study a data econometric analysis is conducted based on a GARCH model for socially responsible and conventional firms. According to our findings, the performance of socially responsible firms is negatively related to an increase of global CO 2 emissions. The firms' costs for implementing environmental policies and the investors' attitude towards the aforementioned firms may account for our results. Copyright © 2012 John Wiley & Sons, Ltd and ERP Environment.