EURO 2024 Copenhagen
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649. The Impact of Companies' Performance on the Implementation of the Green Deal in the regions of Europe, North America and Asia-Oceania

Invited abstract in session WC-59: OR in Accounting: Performance and ESG, stream OR in Financial and Management Accounting.

Wednesday, 12:30-14:00
Room: S08 (building: 101)

Authors (first author is the speaker)

1. Raminta Vaitiekuniene
Department of Finance; Sustainable Economics research group, Vilnius University; Kaunas University of Technology
2. Kristina Sutiene
Department of Mathematical Modeling, Kaunas University of Technology

Abstract

The European Green Deal envisages ensuring climate neutrality by 2050. This includes a modern and competitive economy based on a clean environment and neutralized climate. Companies are playing a significant role in this process. The Green Deal initiative encourages other countries to move towards a green economy, so all countries can use the concept of the Green Deal as a symbol of sustainability. The purpose is to evaluate the financial and innovation performance of the largest European, North American and Asian-Oceanian companies, revealing how companies contribute to the implementation of the Green Deal. Systematization of scientific literature, selection of input and output variables based on the results of scientific literature, analysis of statistical relationships, and panel regression models as the main research methods are applied to achieve this purpose. The results show that companies from all three regions (European, North American and Asian-Oceanian) significantly concur with the implementation of the Green Deal. Return on assets and leverage as financial performance indicators significantly influence the results of environmental performance. Research and experimental development expenditure as an indicator of innovation performance has a significant impact on environmental performance as well. Companies should find more opportunities to pursue financial, innovation and environmental goals together to achieve long-term climate goals.

Keywords

Status: accepted

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