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Article
Affiliation(s)

Antonio Arbelo, Ph.D., Professor, Department of Management, Universidad de La Laguna.
Pilar Perez-Gómez, Ph.D., Professor, Department of Accounting and Finance, Universidad de La Laguna.
Felipe Manuel Rosa-González, Professor, Departament of Statistics and Operational Research, Universidad de La Laguna.
Libertad Ramos, Researcher, Departament of Management, Universidad de La Laguna.

ABSTRACT

The second half of the 20th century was characterized by an increasing interest in the pace of economic growth and its impact on the environment. As a result, the concept of eco-efficiency as a philosophy of management has arisen, which combines the excellence of the environment and business. This paper uses the distribution-free approach to provide empirical evidence in relation to the eco-efficiency paradigm by studying the relation between environmental performance (measured by the level of emissions of air-contaminating substances) and economic performance (approximated by economic efficiency), in 199 companies from mineral manufacturing industry in Spain between 2004 and 2007. The empirical analysis shows that the results are consistent with the paradigm of eco-efficiency and therefore it can be concluded that being responsible for the environment is positively related to economic efficiency.

KEYWORDS

eco-efficiency, economic efficiency, environmental performance, distribution-free approach

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