Being green as an instrument for increasing firm value: case of US transport and logistics companies Online publication date: Tue, 09-Jan-2024
by Angi E. Skhvediani; Svetlana S. Gutman; Maria A. Rodionova; Julia A. Perfilova
International Journal of Logistics Systems and Management (IJLSM), Vol. 47, No. 1, 2024
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.
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