Research & Development Intensity, Environmental Performance, and Firm Value: Unravelling the Nexus in the Energy Sector Worldwide

Simple item page
dc.cclicenceCC-BY-NCen
dc.contributor.authorUyar, Ali
dc.contributor.authorKuzey, Cemil
dc.contributor.authorGerged, Ali Meftah
dc.contributor.authorKaraman, Abdullah S.
dc.date.acceptance2022-07-05
dc.date.accessioned2022-07-06T09:09:33Z
dc.date.available2022-07-06T09:09:33Z
dc.date.issued2022-07-12
dc.descriptionThe file attached to this record is the author's final peer reviewed version. The Publisher's final version can be found by following the DOI link.en
dc.description.abstractThe lack of a focused study on the nexus of research & development (R&D) intensity, eco-friendly practices, firm value in the energy sector, and the stakeholders' concerns for ecology motivated us to realize this study. The study sample covers the period from 2002 to 2019, resulting in 4,016 firm-year observations affiliated with 43 countries. The data were retrieved from the Thomson Reuters Eikon, and a country-year fixed-effects regression analysis was executed. Our empirical findings are threefold. First, the results show that energy firms’ R&D intensity spurs eco-friendly practices in three dimensions, namely resource consumption reduction, emissions reduction, and eco-innovation. Second, our study revealed that corporate environmental performance could induce greater firm value, implying a positive shareholders’ reaction to the environmental engagement. Third, moderation analysis revealed that while R&D intensity’s interaction with eco-innovation is value-enhancing, its interaction with resource consumption reduction and emissions reduction is not. The results are largely robust to alternative sampling, endogeneity concerns, and alternative variables measurements. The findings suggest implications for energy firms, R&D activities, and capital markets.en
dc.funderNo external funderen
dc.identifier.citationUyar, A., Kuzey, C., Gerged, A. M. and Karaman, A. (2022) Research & Development Intensity, Environmental Performance, and Firm Value: Unravelling the Nexus in the Energy Sector Worldwide. Business Strategy and the Environment, 32 (4), pp. 1582-1602en
dc.identifier.doihttps://doi.org/10.1002/bse.3206
dc.identifier.urihttps://hdl.handle.net/2086/22041
dc.language.isoenen
dc.peerreviewedYesen
dc.publisherWileyen
dc.researchinstituteCentre for Research in Accountability, Governance and Sustainability (CRAGS)en
dc.subjectR&D intensityen
dc.subjectenvironmental performanceen
dc.subjecteco-innovationen
dc.subjectfirm valueen
dc.subjectenergy sectoren
dc.titleResearch & Development Intensity, Environmental Performance, and Firm Value: Unravelling the Nexus in the Energy Sector Worldwideen
dc.typeArticleen

Files

Original bundle
Now showing 1 - 1 of 1
Thumbnail Image
Name:
Uyar, Kuzey, Gerged & Karaman (2022).pdf
Size:
636.26 KB
Format:
Adobe Portable Document Format
Description:
Uyar, Kuzey, Gerged & Karaman (2022)
Download
License bundle
Now showing 1 - 1 of 1
No Thumbnail Available
Name:
license.txt
Size:
4.2 KB
Format:
Item-specific license agreed upon to submission
Description:
Download

Collections

School of Accounting, Finance and Economics