title: Revisiting the relationship between environmental and financial performance in Chinese industry.
abstract: The debate on the relationship between corporate or industrial environmental performance (EP) and financial performance (FP) has yet to be resolved, and studies need to examine the possible moderating effects on the EP-FP link. We argue that industrial EP has a positive effect on FP and that industrial munificence and resource slack can moderate the EP-FP link. Using a dataset from Chinese industrial firms, we examine the direct effect of industrial EP on FP and the indirect effects of industrial munificence and resource slack on the EP-FP link. Our results show that improving corporate or industrial-level EP significantly influences FP and that slack resources play a significant role on the EP-FP link. However, we found no significant moderating effect of industrial munificence on the link.
authors.affiliation: School of Business, East China University of Science and Technology, Shanghai 200237, China.
authors.forename: G Y
authors.initials: GY
authors.lastname: Qi
authors.affiliation: Antai School of Management, Shanghai Jiaotong University, Shanghai 200052, China. Electronic address: zengsaixing@sjtu.edu.cn.
authors.forename: S X
authors.initials: SX
authors.lastname: Zeng
authors.affiliation: College of Design, Construction and Planning, University of Florida, Gainesville, FL 32611-5703, United States.
authors.forename: Jonathan J
authors.initials: JJ
authors.lastname: Shi
authors.affiliation: Antai School of Management, Shanghai Jiaotong University, Shanghai 200052, China.
authors.forename: X H
authors.initials: XH
authors.lastname: Meng
authors.affiliation: Antai School of Management, Shanghai Jiaotong University, Shanghai 200052, China.
authors.forename: H
authors.initials: H
authors.lastname: Lin
authors.affiliation: School of Business, East China University of Science and Technology, Shanghai 200237, China.
authors.forename: Q X
authors.initials: QX
authors.lastname: Yang
mesh_terms: D002681:China; D003247:Conservation of Natural Resources / Q000191:economics* / Q000379:methods; D003365:Costs and Cost Analysis; D016208:Databases, Factual; D058735:Environmental Policy / Q000191:economics*; D004787:Environmental Pollution / Q000191:economics* / Q000517:prevention & control*; D007221:Industry / Q000191:economics* / Q000458:organization & administration
keywords: Environmental munificence; Environmental performance; Financial performance; Resource slack