The correlation of environmental management system and financial performance: a systematic literature review
DOI:
https://doi.org/10.34117/bjdv9n12-089Keywords:
environmental management system, financial performanceAbstract
Environmental Management System (EMS) is a management system which relates to diverse plans formulated to focus on activities aimed at enhancing awareness, performance and protection of the environment. EMS is a part of the management system which includes the structure of the organization, implementation of procedures, development resources, responsibilities and maintenance of environmental policies. And certainly, the utmost crucial aspect of a corporation is the financial performance. Hence, this research’s aims is to find out the correlation between EMS and financial performance. The method used is systematic literature review. The result of this research is EMS has an effect to the financial performance. There is a positive correlation between Environmental Management System and financial performance. A good relationship between the Environmental Management System and financial performance can have a good influence on various other aspects in pursuing a sustainable environment, and can lead to various benefits and improvements.
References
Anggara, B., Safitri, V. A. D., & Naz, I. (2021). Implication of environmental management system and environmental performance on financial performance of entities with foreign ownership as moderator. Jurnal Analisis Bisnis Ekonomi, 19(1), 15-29.
Aslam, S., Elmagrhi, M. H., Rehman, R. U., & Ntim, C. G. (2021). Environmental management practices and financial performance using data envelopment analysis in Japan: The mediating role of environmental performance. Business Strategy and the Environment, 30(4), 1655-1673.
Fahmi, Irfan. 2012. Pengantar Manajemen Keuangan. Edisi Pertama. Alfabeta, Bandung.
Feng, T., & Wang, D. (2016). The influence of environmental management systems on financial performance: A moderated-mediation analysis. Journal of business ethics, 135, 265-278.
Feng, T., Cai, D., Wang, D., & Zhang, X. (2016). Environmental management systems and financial performance: The joint effect of switching cost and competitive intensity. Journal of cleaner production, 113, 781-791.
Kasman & Isyandi, B. (2013). Faktor Manajemen Sumber Daya Manusia (MSDM) Dalam Penerapan Sistem Manajemen Lingkungan ISO 14001 di PT Riau Andalan Pulp and Paper. Jurnal Ilmu Lingkungan. 7(2). 253-262.
Lo, C. K., Yeung, A. C., & Cheng, T. C. E. (2012). The impact of environmental management systems on financial performance in fashion and textiles industries. International journal of production economics, 135(2), 561-567.
Muda, I., & Wahyuni, E. (2019). An Analysis on the Effect of Environmental Performance and the Implementation of Environmental Management System (ISO 14001) on the Issuer Financial Performance. Calitatea, 20(168), 113-117.
Ong, T. S., Teh, B. H., Ng, S. H., & Soh, W. N. (2016). Environmental management system and financial performance. Institutions and Economies, 8(2), 26-52.
Natasaputra, M. R. (2015). Evaluasi Efektivitas Penerapan Sistem Manajemen Lingkungan ISO 14001 di Pabrik Ban XYZ, Jawa Barat (Doctoral dissertation, IPB University).
Munawir. (2006). Analisa Laporan Keuangan. Yogyakarta: Liberty.
Maharantika, S. F., & Fuad, F. (2022). The Influence Of Environmental Performance,
Environmental Management Systems, And Corporate Social Responsibility Disclosure On The Financial Performance. Diponegoro Journal of Accounting, 11(1). 1-14.
Riani, M., (2020). The Analysis of the Influence of financial performance on stock prices with earning growth as a moderating variable in infrastructure, utility and transportation sector companies listed on the Indonesia Stock Exchange. International Journal of Innovative Science and Research Technology, 5(5), I8. https://www.ijisrt.com/assets/upload/files/IJISRT20AUG371.pdf
Sadalia, I., Daulay, I. E., Marlina, L., (2019). The influence of intellectual capital towards financial performance with brand value as an intervening variable. Calitatea, 20(168), 79-85.
Sucipto. (2003). Penilaian kinerja keuangan. Jurnal Akuntansi. Medan: Universitas Sumatera Utara.
Tambunan, S.; Lores, L. (2018). Factors Influencing the Establishment of ISO 17799 Standards.In Proceedings of the International Conference of Science, Technology, Engineering, Environmental and Ramification Researches - Volume 1: ICOSTEERR, pages 1290-1295. DOI: 10.5220/0010072012901295. https://www.scitepress.org/PublicationsDetail.aspx?ID=+w/egwfprqs=&t=1
Tyas, Y. I. W. (2020). Analisis Rasio Keuangan Untuk Menilai Kinerja Keuangan Pada Elzatta Probolinggo. Jurnal Ilmiah Ilmu Ekonomi Dan Bisnis. 8(1), 28–39.
Voinea, C. L., Hoogenberg, B. J., Fratostiteanu, C., & Bin Azam Hashmi, H. (2020). The relation between environmental management systems and environmental and financial performance in emerging economies. Sustainability, 12(13), 5309.
Watson, K., Klingenberg, B., Polito, T., & Geurts, T. G. (2004). Impact of environmental management system implementation on financial performance: A comparison of two corporate strategies. Management of Environmental Quality: An International Journal, 15(6), 622-628.
Winarto, D & Dewi, S. P. (2019). Faktor-faktor yang mempengaruhi financial performance perusahaan manufaktur di BEI. Jurnal Multiparadigma Akuntansi, 1(4), 1122-1132.
