Papers

"The management of sustainable development: A longitudinal analysis of the effects of environmental performance on economic performance"

In this paper, published in Business Strategy and the Environment, Thomas Bassetti (Department of Economics and Management of the University of Padova), Silvia Blasi (UNIMI - University of Milan), and Silvia Rita Sedita (Department of Economics and Management of the University of Padova) contribute to the literature on sustainable development by considering a panel of 998 US companies observed over the period 2003–2017 using both traditional panel data methods and an unconditional quantile regression technique. The empirical evidence confirms that environmental performance, measured in terms of environmental orientation and environmental innovation, positively affects returns on assets and equity. It also demonstrates that these returns change across quantiles and depend on the capacity of green companies to generate the same streams of income as nongreen companies but with less capital. In other words, green firms tend to be more efficient in generating future wealth.

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