Determinants for the adoption of ISO 14001: the case of Portuguese firms
Climate change and the consequent increase in society's environmental awareness have triggered new forms of pressure on companies and the way they face environmental sustainability. Hence, either by legal imposition or by other types of pressures, companies must incorporate the environmental im...
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| Format: | Article |
| Language: | English |
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AIMS Press
2023-02-01
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| Series: | Green Finance |
| Subjects: | |
| Online Access: | https://www.aimspress.com/article/doi/10.3934/GF.2023003?viewType=HTML |
| _version_ | 1797826887709360128 |
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| author | Valter Franco Susana Silva Erika Laranjeira |
| author_facet | Valter Franco Susana Silva Erika Laranjeira |
| author_sort | Valter Franco |
| collection | DOAJ |
| description | Climate change and the consequent increase in society's environmental awareness have triggered new forms of pressure on companies and the way they face environmental sustainability. Hence, either by legal imposition or by other types of pressures, companies must incorporate the environmental impact of their activities into their responsibilities, without compromising their financial viability. Environmental certification is a common procedure for firms to improve their environmental performance, as well as increase their reputation and image. Notwithstanding, determinants for environmental certification are still poorly understood. Therefore, the present study aims to assess, from a sample of 1,917 Portuguese companies of various sectors and dimensions, the influence of some factors on the probability of a firm adopting the ISO 14001 certification. Results showed that the different variables used as measures of profitability of the firm have a positive impact on its probability of adopting ISO 14001. Other factors with the same effect include the participation of the firm in the stock market and the firm's size. This can be justified by a greater need for large firms to improve their reputation or to have access to some markets where this kind of certification is an obligation. However, it is also possible to observe a certain variation in results depending on the measures of profitability used. Another conclusion is that the fact that a firm is an exporter does not influence its probability to be certified in any of the specifications, something contrary to what has been found in the literature. |
| first_indexed | 2024-04-09T12:39:28Z |
| format | Article |
| id | doaj.art-2d0e80892d154e01baf7231ccb4956f6 |
| institution | Directory Open Access Journal |
| issn | 2643-1092 |
| language | English |
| last_indexed | 2024-04-09T12:39:28Z |
| publishDate | 2023-02-01 |
| publisher | AIMS Press |
| record_format | Article |
| series | Green Finance |
| spelling | doaj.art-2d0e80892d154e01baf7231ccb4956f62023-05-15T01:28:04ZengAIMS PressGreen Finance2643-10922023-02-0151688410.3934/GF.2023003Determinants for the adoption of ISO 14001: the case of Portuguese firmsValter Franco0Susana Silva1Erika Laranjeira 21. Faculdade de Economia da Universidade do Porto, Porto, Portugal2. CEF.up and Faculdade de Economia da Universidade do Porto (FEP), Porto, Portugal3. CEF.up and COMEGI, Centro Universitário Lusíada – Norte, Porto, PortugalClimate change and the consequent increase in society's environmental awareness have triggered new forms of pressure on companies and the way they face environmental sustainability. Hence, either by legal imposition or by other types of pressures, companies must incorporate the environmental impact of their activities into their responsibilities, without compromising their financial viability. Environmental certification is a common procedure for firms to improve their environmental performance, as well as increase their reputation and image. Notwithstanding, determinants for environmental certification are still poorly understood. Therefore, the present study aims to assess, from a sample of 1,917 Portuguese companies of various sectors and dimensions, the influence of some factors on the probability of a firm adopting the ISO 14001 certification. Results showed that the different variables used as measures of profitability of the firm have a positive impact on its probability of adopting ISO 14001. Other factors with the same effect include the participation of the firm in the stock market and the firm's size. This can be justified by a greater need for large firms to improve their reputation or to have access to some markets where this kind of certification is an obligation. However, it is also possible to observe a certain variation in results depending on the measures of profitability used. Another conclusion is that the fact that a firm is an exporter does not influence its probability to be certified in any of the specifications, something contrary to what has been found in the literature.https://www.aimspress.com/article/doi/10.3934/GF.2023003?viewType=HTMLenvironmental sustainabilityenvironmental certificationiso 14001firms' behaviorbinary logit estimation |
| spellingShingle | Valter Franco Susana Silva Erika Laranjeira Determinants for the adoption of ISO 14001: the case of Portuguese firms Green Finance environmental sustainability environmental certification iso 14001 firms' behavior binary logit estimation |
| title | Determinants for the adoption of ISO 14001: the case of Portuguese firms |
| title_full | Determinants for the adoption of ISO 14001: the case of Portuguese firms |
| title_fullStr | Determinants for the adoption of ISO 14001: the case of Portuguese firms |
| title_full_unstemmed | Determinants for the adoption of ISO 14001: the case of Portuguese firms |
| title_short | Determinants for the adoption of ISO 14001: the case of Portuguese firms |
| title_sort | determinants for the adoption of iso 14001 the case of portuguese firms |
| topic | environmental sustainability environmental certification iso 14001 firms' behavior binary logit estimation |
| url | https://www.aimspress.com/article/doi/10.3934/GF.2023003?viewType=HTML |
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