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Energy efficiency and firm performance

evidence from Swedish industry

Zhang, Shanshan (2016). Energy efficiency and firm performance. Diss. (sammanfattning/summary) Umeå : Sveriges lantbruksuniv., Acta Universitatis agriculturae Sueciae, 1652-6880 ; 2016:49
ISBN 978-91-576-8600-8
eISBN 978-91-576-8601-5
[Doctoral thesis]

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Abstract

This thesis sheds light on different aspects of the performance of Swedish industrial firms. To this end, the analysis defines and measures energy efficiency in an economic context, as well as investigating the implicit relationships between energy efficiency and other firm performance metrics – productivity and environmental performance. Paper I estimates energy efficiency using a “true” random effects stochastic frontier model. The presence of energy inefficiency indicates the potential for energy consumption reduction. Paper II includes undesirable outputs when measuring energy efficiency in a non-parametric model approach. To assess the impacts of efficiency determinants, a double bootstrap procedure is adopted for the second-stage regression analysis. Paper III investigates firm performance in three dimensions – productivity, energy efficiency, and environmental performance. A panel vector auto-regression model is utilized to examine the causal and dynamic relationships between the three dimensions of firm performance and the environmental investment. The overarching conclusion from the thesis is that there is considerable potential to improve energy efficiency in Swedish industrial firms. It is very likely that the permit price of the EU emissions trading system for CO2 and the Swedish CO2 tax rate were too low to create incentives to improve energy efficiency. A firm strategy that emphasizes energy efficiency improvements is also likely to save costs and be beneficial for overall productivity in later periods. Environmental performance comes at a cost in terms of lower productivity, and thus the results cannot corroborate the win-win outcome postulated by the so-called Porter Hypothesis.

Authors/Creators:Zhang, Shanshan
Title:Energy efficiency and firm performance
Subtitle:evidence from Swedish industry
Series/Journal:Acta Universitatis agriculturae Sueciae (1652-6880)
Year of publishing :6 April 2016
Depositing date:2 May 2016
Volume:2016:49
Number of Pages:36
Papers/manuscripts:
NumberReferences
1Lundgren, T., Marklund, P.-O., Zhang, S.S. (2016). Industrial energy demand and energy efficiency – Evidence from Sweden. Resource and Energy Economics 43, 130-152.
2Zhang, S.S., Lundgren, T., Zhou, W.C. (2016). Energy efficiency in Swedish industry: A firm-level data envelopment analysis. Energy Economics 55, 42-51.
3Zhang, S.S., Lundgren, T., Zhou, W.C. (2016). Environmental investment and firm performance: A panel VAR approach.
Place of Publication:Umeå
Publisher:Department of Forest Economics, Swedish University of Agricultural Sciences
ISBN for printed version:978-91-576-8600-8
ISBN for electronic version:978-91-576-8601-5
ISSN:1652-6880
Language:English
Publication Type:Doctoral thesis
Full Text Status:Public
Agris subject categories.:E Economics, development, and rural sociology > E16 Production economics
Subjects:(A) Swedish standard research categories 2011 > 5 Social Sciences > 502 Economics and Business > Economics
Agrovoc terms:enterprises, industry, energy consumption, efficiency, productivity, environmental management, stochastic models, regression analysis, sweden
Keywords:Energy efficiency, Firm performance, Stochastic frontier analysis, Data envelopment analysis, Panel vector-autoregression, Swedish industrial firms
URN:NBN:urn:nbn:se:slu:epsilon-e-3413
Permanent URL:
http://urn.kb.se/resolve?urn=urn:nbn:se:slu:epsilon-e-3413
ID Code:13330
Faculty:S - Faculty of Forest Sciences
Department:(S) > Dept. of Forest Economics
External funders:Energimyndigheten
Deposited By: Shanshan Zhang
Deposited On:02 May 2016 11:58
Metadata Last Modified:26 May 2016 01:23

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