환경투자활동의 동기와 효과 = Determinants and Effects of Environmental Investments

다국어 초록 (Multilingual Abstract)

This paper test the relationship among determinants of environmental investments, level of environmental investments, eco-efficiency (carbon productivity). The results show that profitability, leverage and R&D costs have a negative impact on environmental investments, and controlling ownership have a positive impact on environmental investments as well as environmental protection costs. The analysis also show that firms increasing environmental investments are able to gain superior environmental performance (CO2 emission), but are negatively relationship with financial performance. Finally, the findings prove that differences exist in the relationship between determinants and effect of environmental investments when grouped by industry characteristics.

참고문헌 (Reference)

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