Does Better Environmental Performance Affect Revenues, Cost, or Both? Evidence From a Transition Economy

This study analyzes the effect of corporate environmental performance on financial performance in a transition economy. In particular, it assesses whether good environmental performance affects revenues, costs, or both, and if so, in which directions. As environmental performance improves, do revenues rise and costs fall so that profits unambiguously increase? Or vice versa? If both revenues and costs rise (or fall), does better environmental performance improve or undermine profitability? To answer these questions, our study analyzes the links from environmental performance to revenues, costs, and profits using an unbalanced panel of Czech firms from the years 1996 to 1998. The analytical results indicate strongly that better environmental performance improves profitability by driving down costs more than it drives down revenues, consistent with the substantial regulatory scrutiny exerted by environmental agencies and the primary pollution control approach implemented by firms during the sample period.http://deepblue.lib.umich.edu/bitstream/2027.42/57236/1/wp856 .pd

Effects of Ownership and Financial Status on Corporate Environmental Performance

This paper analyzes the effects of ownership structure on corporate environmental performance and examines the link from financial performance to environmental performance in a transition economy. In particular, it analyzes these ownership effects and this performance link using an unbalanced panel of Czech firms for the years 1993 to 1998. It considers state ownership and various types of private ownership, while contrasting concentrated and diffuse forms of private ownership. Additionally, it examines whether or not successful financial performance begets or undermines good environmental performance.http://deepblue.lib.umich.edu/bitstream/2027.42/39877/3/wp492.pd

Biodiversity As An Ecological Safety Condition. The European Dimension

The main purpose of the paper is to indicate the theoretical bases of biodiversity protection from the perspective of the natural and economic sciences, and to describe the diversity of biodiversity protection levels in the EU states. A specific aim is to indicate the forms and instruments of nature conservation involved in biodiversity protection, and to carry out an overview of established nature conservation programmes in selected EU countries. In order to accomplish such a complex aim, this article presents an overview of literature found in the natural, economic and legal sciences and popular magazines presenting scientific research within the field of biodiversity. Then a comparative analysis is presented based on the statistical data coming from various international statistics resources (OECD, EUROSTAT, EEA)

Does Better Environmental Performance Affect Revenues, Cost, or Both? Evidence From a Transition Economy

This study analyzes the effect of corporate environmental performance on financial performance in a transition economy. In particular, it assesses whether good environmental performance affects revenues, costs, or both, and if so, in which directions. As environmental performance improves, do revenues rise and costs fall so that profits unambiguously increase? Or vice versa? If both revenues and costs rise (or fall), does better environmental performance improve or undermine profitability? To answer these questions, our study analyzes the links from environmental performance to revenues, costs, and profits using an unbalanced panel of Czech firms from the years 1996 to 1998. The analytical results indicate strongly that better environmental performance improves profitability by driving down costs more than it drives down revenues, consistent with the substantial regulatory scrutiny exerted by environmental agencies and the primary pollution control approach implemented by firms during the sample period.Czech Republic, environmental protection, pollution, financial performance

Effects of Ownership and Financial Status on Corporate Environmental Performance

This paper analyzes the effects of ownership structure on corporate environmental performance and examines the link between financial performance to environmental performance in a transition economy. In particular, it analyzes these ownership effects and this performance link using an unbalanced panel of Czech firms for the years 1993 to 1998. It considers state ownership and various types of private ownership, while contrasting concentrated and diffuse forms of private ownership. Additionally, it examines whether or not successful financial performance begets or undermines good environmental performance.Czech Republic; environmental protection; pollution; ownership; financial status

CSR and Environmental Reporting in the Czech Republic and Romania: Country Comparison of Rules and Practices

This paper focuses on the development of corporate social responsibility, with special emphasis on environmental issues in two countries that have recently joined the EU: the Czech Republic and Romania. The article analyses the short tradition of Corporate Social Responsibility reporting in both countries and the current state of development, as well as its future perspectives. The paper also deals with the recent developments of environmental reporting in the Czech Republic and Romania, and plans to introduce some basics of environmental reporting into compulsory reporting statements in the Czech Republic. This is then compared it with country-specific approach in Romania. On the Czech side, the comparison is drawn from two short case studies of the Czech heavy industry sector. Similarly, in Romania, the approach is documented on companies from the energy sector and a major shipyard, representing the approach of Romanian heavy industry sector. We conclude that the standard of CSR and environmental reporting is based on the same principles in both countries, but the particular approaches differ. Non-prescriptive approach to environmental reporting should be adopted in the Czech Republic, similarly to other developed countries. Furthermore, in our opinion, more systematic regulatory approach may be adopted in Romania.Corporate social responsibility, environmental accounting, sustainable development, Czech Republic, Romania

Effects of Ownership and Financial Status on Corporate Environmental Performance

This paper analyzes the effects of ownership structure on corporate environmental performance and examines the link from financial performance to environmental performance in a transition economy. In particular, it analyzes these ownership effects and this performance link using an unbalanced panel of Czech firms for the years 1993 to 1998. It considers state ownership and various types of private ownership, while contrasting concentrated and diffuse forms of private ownership. Additionally, it examines whether or not successful financial performance begets or undermines good environmental performance.Czech Republic, environmental protection, pollution, ownership, financial status

The Effect of Corporate Environmental Performance on Financial Outcomes – Profits, Revenues and Costs: Evidence from the Czech Transition Economy

This empirical study analyzes the effect of corporate environmental performance on financial performance in a transition economy. In particular, it assesses whether good environmental performance affects profits, and if so, in which direction. Then the study decomposes profits into revenues and costs in order to identify the channel(s) of any identified effect of environmental performance on profits. For example, as environmental performance improves, do revenues rise and costs fall so that profits increase? For this assessment, our study analyzes the links from environmental performance to revenues, costs, and profits using an unbalanced panel of Czech firms from the years 1996 to 1998. The empirical results indicate strongly and robustly that better environmental performance improves profitability by driving down costs more than it drives down revenues. The strong reduction in costs is consistent with the substantial regulatory scrutiny exerted by environmental agencies during the sample period in the forms of prevalent monitoring (i.e., inspections) and enforcement and escalating emission charge rates.Czech Republic, environmental protection, pollution, financial performance

Civil Society in the 'Visegrad Four': Data and Literature in the Czech Republic, Hungary, Poland and Slovakia

The first of three publications on the '25 Years After -- Mapping Civil Society in the Visegrád Four' project contains an overview of existing data and literature in the Czech Republic, Hungary, Poland and Slovakia. It looks at where and what kind of research on civil society has been and is being done, who is doing it and where the gaps are.To be consistent and comparable, the four country reports include the same core sections: relevant publications on civil society in the respective country; existing databases and other data sources; active centres of research, training, and policy studies. More than providing just a list, this report looks at how they can be evaluated in terms of scope, accurateness and depth. Finally, it considers the question of what the most crucial gaps in research and funding in the countries are.An academic volume is slated for the end of 2014. For other publications in English and German, see www.maecenata.eu