Chetanraj D. B.

This study aims to investigate the complex association between institutional pressure, adoption of environmental management accounting (EMA), and financial performance, with corporate environmental ethics as a moderating component. It explains why and how firms adopt EMA in response to institutional demand to factor environmental factors into their strategic decision-making processes. Quantitative information is gathered using a structured questionnaire from 256 manufacturing companies’ environmental managers and executives who monitor environmental practices and policies and decision-makers who shape business environmental ethics and strategy in the Indian state of Karnataka. Data are analyzed using SmartPLS 4, and PLS-SEM tests the hypotheses. The results show that coercive pressure (β = 0.244, p = 0.000), mimetic pressure (β = 0.221, p = 0.000), and normative pressure (β = 0.209, p = 0.000) have a major role in determining the rate of EMA adoption. It is further identified that EMA adoption (β = 0.217, p = 0.000) positively influences the organization's financial performance. Furthermore, EMA adoption mediates the relationship between coercive pressure (β = 0.053, p = 0.000), normative pressure (β = 0.045, p = 0.000), mimetic pressure (β = 0.048, p = 0.000), and firm’s financial performance. Coercive pressure is associated with higher EMA adoption, although the impact of this link is moderated by corporate environmental ethics (β = 0.069, p = 0.000).

This paper aims to forecast the stock price and analyze the return volatility of India’s top three socially responsible companies. This study used ARIMA and GARCH models to forecast the stock price and analyze return volatility. For the analysis, the required time series data are collected from Yahoo Finance from 01-08-2012 to 29-07-2022 of the companies’ Monthly and daily closing stock prices. The socially responsible companies are selected based on India’s sustainability indices. The findings of the study show that the ARIMA (9,1,9) model for HDFC Ltd, ARIMA (10,1,7) for Reliance Industries Ltd, and ARIMA (2,1,2) are suitable models to forecast the stock price. Also, the study’s findings forecasted stock prices from August 2022 to July 2023. The forecasted stock price for July 2023 of HDFC Ltd is INR 2,613.78, Reliance industries Ltd is INR 3,073.75, and ICICI Bank Ltd is INR 857.73. Reliance Industries Ltd (σ2t = 0.9270586) is less volatile, and HDFC Ltd (σ2t = 0.9665041) is more volatile among the three companies, ICICI Bank Ltd (σ2t = 0.9507527) is the second high volatile company. The present study is limited to the top three companies that were selected from the three sustainability indices of BSE. The study is also limited to analysis of past volatility of stock price returns.

This study investigates the implication of environmental strategies and environmental management accounting (EMA) on the environmental performance of manufacturing micro companies in India. It also assesses the mediating influence of EMA and the moderating impact of environmental proactivity. This paper employs the natural resource-based view theory to evaluate the domination of environmental strategies and EMA on environmental effectiveness. Even though MSMEs play a significant role in the Indian economy, their environmental impact is considerable due to less stringent adherence to environmental standards and practices. The data were gathered via a survey administered to managers of MSMEs. In the analysis, 107 reliable responses were included. Partial least square structural equation modeling is employed for the analysis of the dataset. The results show that environmental strategies positively influence environmental performance and EMA. EMA operates as a mediator for environmental strategies and environmental outcomes. Moreover, environmental proactivity moderates the association between environmental strategies and environmental performance. Hypotheses testing results conclude that manufacturing micro companies that emphasize environmental strategies and factors have improved environmental performance. Companies that proactively deal with environmental issues develop strategies to achieve sustainability.