Appendix (Online Supplement)

Appendix (Online Supplement)

Appendix 1 Articles included in the review

Alexopoulos, I., Kounetas, K. and Tzepelis, D. (2012). Environmental performance and technical efficiency, is there a link? The case of Greek listed firms. International Journal of Productivity and Performance Management 61(1), 6-23.

Al-Tuwaijri, S. A., Christensen, T. E., and Hughes, K. (2004). The relations among environmental disclosure, environmental performance, and economic performance: A simultaneous equations approach. Accounting, Organizations and Society 29(5-6), 447-471.

Annandale, D. Morrison-Saunders, A. and Bouma, G. (2004). The impact of voluntary environmental protection instruments on company environmental performance. Business Strategy and the Environment 13(1), 1-12.

Arimura, T. H., Hibiki, A. and Katayama, H. (2008). Is a voluntary approach an effective environmental policy instrument? A case for environmental management systems. Journal of Environmental Economics and Management 55(3), 281-295.

Azzone, G. Noci, G., Manzini, R., Welford, R. and Young, W. (1996). Defining environmental performance indicators: An integrated framework. Business Strategy and the Environment 5(2), 69-80.

Berrone, P. and Gomez-Mejia, L. R. (2009). Environmental performance and executive compensation: An integrated agency-institutional perspective. Academy of Management Journal 52(1), 103-126.

Bhat, V. N. (1999). Does it pay to be green? International Journal of Environmental Studies 56(4), 497-507.

Brammer, S. J. and Pavelin, S.(2006). Corporate reputation and social performance: The importance of fit. Journal of Management Studies 43(3), 435-455.

Branzei, O.,Ursacki-Bryant, T. J. Vertinsky, I. and Zhang, W. (2004). The formation of green strategies in Chinese firms: Matching corporate environmental responses and individual principles. Strategic Management Journal 25(11), 1075-1095.

Busch, T. and Hoffmann, V. H. (2011). How hot is your bottom line? Linking carbon and financial performance. Business and Society 50(2), 233-265.

Camisón, C. (2010). Effects of coercive regulation versus voluntary and cooperative auto-regulation on environmental adaptation and performance: Empirical evidence in Spain. European Management Journal 28(5), 346-361.

Carmona-Morena, E., Céspedes-Lorente, J. and de Burgos-Jiménez, J. (2004). Environmental strategies in Spanish hotels: Contextual factors and performance. The Service Industries Journal 24(3), 101-130.

Carrión-Flores, C. E. and Innes, R. (2009).Environmental innovation and environmental performance. Journal of environmental economics and management 59(1), 27-42.

Chan, R. Y. K. (2005). Does the natural resource based view of the firm apply in an emerging economy? A survey of foreign invested enterprises in China. Journal of Management Studies 42(3), 625-672.

Chiou, T. Y., Chan, H. K., Lettice, F. and Chung, S. H. (2011).The influence of greening the suppliers and green innovation on environmental performance and competitive advantage in Taiwan. Transportation Research Part E 47(6), 822-836.

Cho, C. H., Patten, D. M. and Roberts, R. W. (2006). Corporate political strategy: An examination of the relation between political expenditures, environmental performance, and environmental disclosure. Journal of Business Ethics 67(2), 139-154.

Clarkson, P. M., Li, Y. and Richardson, G. D. (2004).The market valuation of environmental capital expenditures by pulp and paper companies. Accounting Review 79(2), 329-353.

Clarkson, P. M., Li, Y., Richardson, G. D. and Vasvari, F. P. (2008).Revisiting the relation between environmental performance and environmental disclosure: An empirical analysis. Accounting, Organizations and Society 33(4-5), 3003-327.

Clarkson, P. M., Li, Y., Richardson, G. D., and Vasvari, F. P. (2011a). Does it really pay to be green? Determinants and consequences of proactive environmental strategies. Journal of Accounting and Public Policy 30(2), 122-144.

Clarkson, P. M., Overell, M. B. and Chapple, L. (2011b). Environmental reporting and its relation to corporate environmental performance. Abacus 47(1), 27-60.

Clemens, B. and Bakstran, L. (2010).A framework of theoretical lenses and strategic purposes to describe relationships among firm environmental strategy, financial performance, and environmental performance. Management Research Review 33(4), 393-405.

Cole, M A., Elliot, R. J. R. and Strobl, E. (2008).The environmental performance of firms: The role of foreign ownership, training, and experience. Ecological Economics 65(3), 538-546.

Connors, E. and Silva Gao, L. (2010). The impact of corporate environmental performance on the capital structure of firms. Working paper, University of Massachusetts, 1-7.

Cordeiro, J. J. andSarkis, J. (2008). Does explicit contracting effectively link CEO compensation to environmental performance? Business Strategy and the Environment 17(5), 304-317.

Cortez, M. A. A. (2011). Do markets care about social and environmental performance? Evidence from the Tokyo Stock Exchange. Journal of International Business Research 10(2), 15-22.

Darnall, N. (2009). Regulatory stringency, green production off sets, and organizations’ financial performance. Public Administration Review 69(3), 418-434.

Dawkins, C. E. and Fraas, J. W. (2011). Erratum to: Beyond acclamations and excuses: Environmental performance, voluntary environmental disclosure and the role of visibility. Journal of Business Ethics 99(3), 383-397.

Dawkins, C. E. and Fraas, J. W. (2011). Coming Clean: The impact of environmental performance and visibility on corporate climate change disclosure. Journal of Business Ethics 100(2), 303-322.

de Burgos Jiménez, J. and Céspedes Lorente, J. J. (2001). Environmental performance as an operations objective. International Journal of Operations and Production Management 21(12), 553-572.

de Villiers, C., Naiker, C. and van Staden, C. J. (2011). The Effect of board characteristics on firm environmental performance. Journal of Management 37(6), 1636-1663.

Derwall, J., Guenster, N., Bauer, R. and Koedijk, K. (2005). The eco-efficiency premium puzzle. Financial Analysts Journal 61(2), 51-53.

Dooley, R. S. and Fryxell, G. E. (1999). Are conglomerates less environmentally responsible? An empirical examination of diversification strategy and subsidiary pollution in the U.S. chemical industry. Journal of Business Ethics 21(1), 1-14.

Doonan, J., Lanoie, P. and Laplante B. (2005). Determinants of environmental performance in the Canadian pulp and paper industry: An assessment from inside the industry. Ecological Economics 55(1), 73-84.

Douglas, T. J. and Judge, W. Q. (1995).Integrating the natural environment into the strategic planning process: An empirical assessment. Academy of Management Best Papers Proceedings, 475-479.

Earnhart, D. (2004). Panel data analysis of regulatory factors shaping environmental performance. Review of Economics and Statistics 86(1), 391-401.

Earnhart, D. (2004). Regulatory factors shaping environmental performance at publicly-owned treatment plants. Journal of Environmental Economics and Management 48(1), 655-681.

Earnhart, D. and Lizal, L. (2006). Effects of ownership and financial performance on corporate environmental performance. Journal of Comparative Economics 34(1), 111-129.

Earnhart, D. and Lizal, L. (2007). Effect of pollution control on corporate financial performance in a transition economy. European Environment, 17(4), 247-266.

Earnhart, D. and Lizal, L. (2010). Effect of corporate economic performance on firm-level environmental performance in a transition economy. Environmental and Resource Economics 46(3), 303-329.

Elsayed, K. (2006). Reexamining the expected effect of available resources and firm size on firm environmental orientation: An empirical study of UK firms. Journal of Business Ethics 65(3), 297-308.

Elsayed, K. and Paton, D. (2005). The impact of environmental performance on firm performance: static and dynamic panel data evidence. Structural Change and Economic Dynamics 16(3), 395-412.

Fauzi, H. (2008). Corporate social and environmental performance: A comparative study of Indonesian companies and multinational companies (MNCs) operating in Indonesia. Journal of Knowledge Globalization 1(1), 1-26.

Fernández-Kranz, D. and Santaló, J. (2010). When necessity becomes a virtue: The effect of product market competition on corporate social responsibility. Journal of Economics and Management Strategy 19(2), 453-487.

Fikru, M. G. (2011). Does the European pollutant release and transfer register enable us to understand the environmental performance of firms? Environmental Policy and Governance 21(3), 199-209.

Filbeck, G., and Gorman, R. F. (2004).The relationship between the environmental and financial performance of public utilities. Environmental and Resource Economics 29(2), 137-157.

First, I. and Khetriwal, D. S. (2010). Exploring the relationship between environmental orientation and brand value: Is there fire or only smoke? Business Strategy and the Environment 19(2), 90-103.

Galbreath, J. (2006). Does primary stakeholder management positively affect the bottom line? Some evidence from Australia. Management Decision 44(8), 1106-1121.

Galdeano-Gómez, E. (2208). Productivity effects of environmental performance: Evidence from TFP analysis on marketing cooperatives. Applied Economics 40(14), 1873-1888.

Galdeano-Gómez, E. (2008). Does an endogenous relationship exist between environmental and economic performance? A resource-based view on the horticultural sector. Environmental and Resource Economics 40(1), 73-89.

Galdeano-Gómez, E. (2010). Exporting and environmental performance: A firm-level productivity analysis. World Economy 32(1), 60-88.

Gilley, K. M., Worrell, D. L., Davidson, W. N. and El-Jelly, A. (2000). Corporate environmental initiatives and anticipated firm performance: The differential effects of process-driven versus product-driven greening initiatives. Journal of Management 26(6), 1199-1216.

Goldstein, D., Hilliard, R. and Parker, V. (2011).Environmental performance and practice across sectors: Methodology and preliminary results. Journal of Cleaner Production 19(9), 946-957.

Guenster, N., Bauer, R., Derwall, J. and Koedijk, K. (2011). The economic value of corporate eco-efficiency. European Financial Management 17(4), 679-704.

Guenther, E. and Kaulich, S. (2005). The EPM-KOMPAS: An instrument to control the environmental performance in small and medium-sizes enterprises (SMEs). Business Strategy and the Environment 14(6), 361-371.

Hall, J. and Wagner, M. (2012). Integrating sustainability into firms’ processes: Performance effects and the moderating role of business models and innovation. Business Strategy and the Environment 21(3), 183-196.

Hart, S. L. and Ahuja, G. (1996). Does it pay to be green? An empirical examination of the relationship between emission reduction and firm performance. Business Strategy and the Environment 5(1), 30-37.

Hassel, L., Nilsson, H. and Nyquist, S. (2005). The value relevance of environmental performance. European Accounting Review 14(1), 41-61.

Henri, J.-F.and Journeault, M. (2010). Eco-control: The influence of management control systems on environmental and economic performance. Accounting, Organizations and Society 35(1), 63-80.

Hitchens, D., Clausen, J., Trainor, M., Keil, M. and Thankappan, S. (2003). Competitiveness, environmental performance and management of SMEs. Greener Management International 44, 45-57.

Ienciu, I. A. and Napoca, C. N. (2009). Environmental performance versus economic performance. International Journal Business Research 9(5), 125-131.

Ilinitch, A. Y., Soderstrom, N. S. and Thomas, T. E. (1998). Measuring corporate environmental performance. Journal of Accounting and Public Policy 17(4), 383-408.

Iraldo, Testa F., and Frey, M. (2009). Is an environmental management system able to influence environmental and competitive performance? The case of the eco-management and audit scheme (EMAS) in the European Union. Journal of Cleaner Production 17(16), 1444-1452.

Iwata, H. and Okada, K. (2011). How does environmental performance affect financial performance? Evidence from Japanese manufacturing firms. Ecological Economics 70(9), 1691-1700.

Jasch, C. (2000). Environmental performance evaluation and indicators. Journal of Cleaner Production 8(1), 79-88.

Johnston, A. and Smith, A. (2001). The characteristics and features of corporate environmental performance indicators? A case study of the water industry of England and Wales. Eco-Management and Auditing 8(1), 1-11.

Judge, W. Q. and Douglas, T. J. (1998). Performance implications of incorporating natural environmental issues into the strategic planning process: An empirical assessment. Journal of Management Studies 35(2), 241-262.

Judge, W. Q. and Elenkov, D. (2005). Organizational capacity for change and environmental performance: An empirical assessment of Bulgarian firms. Journal of Business Research 58(7), 893-901.

Jung, E. J., Kim, J. S. and Rhee, S. K. (2001). The measurement of corporate environmental performance and its application to the analysis of efficiency in oil industry. Journal of Cleaner Production 9(6), 551-563.

Kassinis, G. I. and Panayiotou, A. (2006). Perceptions matter: CEO perceptions and firm environmental performance. Greener Management International 23(Autumn), 67-80.

Kassinis, G. and Vafeas, N. (2002). Corporate boards and outside stakeholders as determinants of environmental litigation. Strategic Management Journal 23(5), 399-415.

Kassinis, G. and Vafeas, N. (2006). Stakeholder pressures and environmental performance. Academy of Management Journal 49(1), 145-159.

Kassinis, G. and Vafeas, N. (2009). Environmental performance and plant closure. Journal of Business Research 62(4), 484-494.

King, A. A. and Lenox, M. J. 2001. Does it really pay to be green? An empirical study of firm environmental and financial performance. Journal of Industrial Ecology 5(1), 105-116.

King, A. A. and Lenox, M. J. (2002). Exploring the locus of profitable pollution reduction. Management Science 48(2), 289-299.

King, A. A. and Shaver, J. M. (2001). Are aliens green? Assessing foreign establishments’ environmental conduct in the United States. Strategic Management Journal 22(11), 1069-1085.

Klassen, R. D. and Whybark, D. C. (1999). The impact of environmental technologies on manufacturing performance. Academy of Management Journal 42(6), 599-615.

Konar, S. and Cohen, M. A. (2001). Does the market value environmental performance? Review of Economics and Statistics, 83(2), 281-289.

Lai, K. and Wong, C. W. Y. (2012). Green logistics management and performance: Some empirical evidence from Chinese manufacturing exporters. Omega 40(3), 267-282.

Lee, M. D. P. (2009). Does ownership form matter for corporate social responsibility? A longitudinal comparison of environmental performance between public, private, and joint-venture firms. Business and Society Review 104(4), 435-456.

Lefebvre, E., Lefebvre, L. A. and Talbot, S. (2003). Determinants and impacts of environmental performance in SMEs. R&D Management 33(3), 263-283.

Lenox, M. J. (2006). The role of private decentralized institutions in sustaining industry self-regulation. Organization Science 17(6), 677-690.

Liu, Z. G., Liu, T. T. McCongkey, B. B. and Li, X. (2011). Empirical analysis on environmental disclosure and environmental performance level of listed steel companies. Energy Procedia 5, 2211-2218.

López-Gamero, M. D., Molina-Azorín, J. F. and Claver-Cortes, E. (2009).The whole relationship between environmental variables and firm performance: Competitive advantage and firm resources as mediator variables. Journal of Environmental Management 90(10), 3110-3121.

López-Gamero, M. D., Molina-Azorín, J. F. and Claver-Cortes, E. (2011). The relationship between managers’ environmental perceptions, environmental management and firm Performance in Spanish hotels: A whole framework. International Journal of Tourism Research 13, 141-163.

Magness, V. (2007). Legitimacy in green: Pollution vs. profit in Canadian oil refineries. Issues in Social and Environmental Accounting, 1(1), 54-71.

Mamingi, N., Dasgupta, S., Laplante, B. and Hong, J. H. (2008). Understanding firms’ environmental performance: Does news matter? Environmental Economics and Policy Studies 9(2), 67-79.

Mitra, S., Dhar, S. and Agrawal, K. M. (2008). Triggers of corporate practices and environmental performance: An empirical evidence for India. ICFAI Journal of Management Research 7(10), 48-69.

Moneva, J. M. and Ortas, E. (2010). Corporate environmental and financial performance: A multivariate approach. Industrial Management and Data Systems 110(2), 193-210.

Nakao, Y., Amano, A., Matsumura, K., Genba, K. and Nakano, M. (2007). Relationship between environmental performance and financial performance: An empirical analysis of Japanese corporations. Business Strategy and the Environment 16(2), 106-118.