Che Ahmad, Ayoib and Osazuwa, Nosakhare Peter (2015) Eco-efficiency and firm value of Malaysian firms. International Journal of Managerial and Financial Accounting, 7 (3/4). p. 235. ISSN 1753-6715

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Abstract

The objective of the study is to investigate eco-efficiency as a proxy for environmental policy and its effect on the overall value of the firm. The study adopts Ohlson's value relevance model in explaining how value relevant the concept of eco-efficiency is to the firm. The sample comprises 667 non-financial firms quoted on the Bursa Malaysia as at 2013. The result of the analysis reveals a positive association existing between eco-efficiency and the value of the firm, indicating that Malaysian firms engaging in eco-efficiency are performing better in terms of firm value than firms not engaging in eco-efficiency. This study is a pioneering study examining eco-efficiency from a developing country perspective, specifically from the Malaysian environment.The findings of the study will prove to shareholders and investors that eco-efficient firms can increase its earnings in the future, and therefore such a policy will not affect the financial aim of the company.

Item Type:	Article
Uncontrolled Keywords:	accounting, eco-efficiency, ISO 14001, firm value, value relevance, environmental policy, Malaysia, non-financial firms, developing countries, environmental management systems
Subjects:	H Social Sciences > HD Industries. Land use. Labor > HD28 Management. Industrial Management
Divisions:	Tunku Puteri Intan Safinaz School of Accountancy (TISSA)
Depositing User:	Prof. Dr. Ayoib Che Ahmad
Date Deposited:	20 Jul 2016 08:49
Last Modified:	14 Jun 2017 00:41
URI:	https://repo.uum.edu.my/id/eprint/18422

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