Title: Being green as an instrument for increasing firm value: case of US transport and logistics companies

Authors: Angi E. Skhvediani; Svetlana S. Gutman; Maria A. Rodionova; Julia A. Perfilova

Addresses: Graduate School of Industrial Economics, Peter the Great St. Petersburg Polytechnic University, St. Petersburg, Russia ' Graduate School of Industrial Economics, Peter the Great St. Petersburg Polytechnic University, St. Petersburg, Russia ' Graduate School of Industrial Economics, Peter the Great St. Petersburg Polytechnic University, St. Petersburg, Russia ' Department of Socioeconomics, University of Hamburg, Hamburg, Germany

Abstract: The article investigates the factors that affect the corporate value (Tobin's Q) of 57 US logistics companies. The research considers financial indicators such as ROI, ROTE, P/E ratio, company's operating efficiency, financial leverage, EPS and net income suggestive of a firm's earning capacity and a non-financial dummy variable 'green' which indicates whether a particular logistics company implements green practices and technologies in its operations. The results of the research indicate that there is a positive and significant relationship between Tobin's Q and P/E ratio, ROA and a green indicator. A negative and significant relationship was found between Tobin's Q and ROI and EPS. Also, the article investigated individual interaction effects with the 'green' variable and other financial indicators. The results indicate a negative and significant relationship between Tobin's Q and value of ROTE and EPS of green logistics companies.

Keywords: green logistics; firm value; sustainable logistics; environment.

DOI: 10.1504/IJLSM.2024.135921

International Journal of Logistics Systems and Management, 2024 Vol.47 No.1, pp.105 - 124

Received: 26 Aug 2021
Accepted: 12 Mar 2022
Published online: 09 Jan 2024 *

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