Input, Output, and Environmental Management Productivity: Effects on Firm Performance
研究了环境管理的投入、产出和生产率三者如何共同影响企业财务绩效，基于西班牙有环境管理体系认证的企业数据，发现需综合考虑三方面才能全面理解环境管理对财务绩效的影响。
Abstract Firms invest considerable resources to control any of their operations that may have environmental impacts in an attempt to reduce such impacts but also generate economic value. Various studies of the basic creation or destruction of monetary value through environmental performance offer contradictory evidence. Therefore, the present study proposes a new definition of environmental management as the transformation of inputs (resources assigned) into outputs (valuable results). Both inputs and outputs should be taken into account to explain financial outcomes; further consideration should also include a third aspect, namely, ‘environmental management productivity’, which describes the relationship between the outputs and inputs of environmental management. Empirical analyses of Spanish firms with a certified environmental management system subject to the European Union's CO 2 emissions trading system provide evidence that all three aspects must be considered in combination to achieve a more comprehensive view of the impact of environmental management on financial performance. Copyright © 2013 John Wiley & Sons, Ltd and ERP Environment