caa a22 4500 605486468 CHVBK 20210128100446.0 cr unu---uuuuu 210128e20151201xx s 000 0 eng 10.1007/s10551-014-2324-3 doi (NATIONALLICENCE)springer-10.1007/s10551-014-2324-3 The Impact of Corporate Environmental Performance on Market Risk: The Australian Industry Case [Elektronische Daten] [Noor Muhammad, Frank Scrimgeour, Krishna Reddy, Sazali Abidin] Prior research suggests that Corporate Environmental Performance (CEP) enables businesses to build strong corporate image and reputation, thus leading to improved firm financial performance. However, studies relating to the relationship between CEP and firm risk are scarce. This research intends to bridge the gap in the literature by examining whether CEP helps firms to reduce their financial risk. Results of the Ordinary Least Squares regression with fixed effects provide strong evidence that environmental performance is negatively associated with firm volatility and firm downside risk. The results are robust after controlling for moderating effects such as financial, institutional and environmental management. Springer Science+Business Media Dordrecht, 2014 Corporate Environmental Performance nationallicence Market risk nationallicence Downside risk nationallicence Muhammad Noor Department of Finance, Waikato Management School, The University of Waikato, New Zealand, Gate 1 Knighton Road, Private Bag 3105, 3240, Hamilton, New Zealand aut Scrimgeour Frank Department of Finance, Waikato Management School, The University of Waikato, New Zealand, Gate 1 Knighton Road, Private Bag 3105, 3240, Hamilton, New Zealand aut Reddy Krishna Department of Finance, Waikato Management School, The University of Waikato, New Zealand, Gate 1 Knighton Road, Private Bag 3105, 3240, Hamilton, New Zealand aut Abidin Sazali Department of Finance, Waikato Management School, The University of Waikato, New Zealand, Gate 1 Knighton Road, Private Bag 3105, 3240, Hamilton, New Zealand aut Journal of Business Ethics Springer Netherlands 132/2(2015-12-01), 347-362 0167-4544 132:2<347 2015 132 10551 https://doi.org/10.1007/s10551-014-2324-3 text/html Onlinezugriff via DOI BK010053 XK010053 XK010000 Metadata rights reserved Springer special CC-BY-NC licence nationallicence 1 research-article jats NATIONALLICENCE NATIONALLICENCE NL-springer NATIONALLICENCE 856 40 https://doi.org/10.1007/s10551-014-2324-3 text/html Onlinezugriff via DOI NATIONALLICENCE 700 1- Muhammad Noor Department of Finance, Waikato Management School, The University of Waikato, New Zealand, Gate 1 Knighton Road, Private Bag 3105, 3240, Hamilton, New Zealand aut NATIONALLICENCE 700 1- Scrimgeour Frank Department of Finance, Waikato Management School, The University of Waikato, New Zealand, Gate 1 Knighton Road, Private Bag 3105, 3240, Hamilton, New Zealand aut NATIONALLICENCE 700 1- Reddy Krishna Department of Finance, Waikato Management School, The University of Waikato, New Zealand, Gate 1 Knighton Road, Private Bag 3105, 3240, Hamilton, New Zealand aut NATIONALLICENCE 700 1- Abidin Sazali Department of Finance, Waikato Management School, The University of Waikato, New Zealand, Gate 1 Knighton Road, Private Bag 3105, 3240, Hamilton, New Zealand aut NATIONALLICENCE 773 0- Journal of Business Ethics Springer Netherlands 132/2(2015-12-01), 347-362 0167-4544 132:2<347 2015 132 10551