NISHITANI Kimitaka | ![]() |
Research Institute for Economics and Business Administration / Corporate Competitiveness Unit | |
Professor | |
Business / Economics |
Dec. 2021 Emerald Publishing, Social Responsibility Journal - Literati Award 2021, Outstanding Reviewer
Official journal
Oct. 2015 日本社会関連会計学会, 日本社会関連会計学会第27年度奨励賞, 「カーボンSBSCフレームワークの構築とその有効性の検証」(岡照二との共著)
Japan society
Sep. 2013 環境経済・政策学会, 2013年度環境経済・政策学会奨励賞, An empirical analysis of the effects on firms' economic performance of implementing environmental management systems
Japan society
[Refereed]
Scientific journal
[Invited]
Scientific journal
[Refereed]
Scientific journal
[Refereed]
Scientific journal
[Refereed]
Scientific journal
[Refereed]
Scientific journal
[Refereed]
Scientific journal
[Refereed]
Scientific journal
[Refereed]
Scientific journal
[Refereed]
Scientific journal
[Refereed]
Scientific journal
[Refereed]
Scientific journal
Scientific journal
This paper, using data derived from a questionnaire survey of Indonesian firms, analyzes whether a firm's environmental performance enhances its financial performance and why this happens. Due to the fact that the breakeven point of improving environmental performance will decrease in theory by implementing environmental management voluntarily rather than mandatorily, the relationship between environmental performance and financial performance is assumed to depend on the firm's voluntary or mandatory stance on environmental management. The main findings of the regression analysis are as follows. First, firms that implement environmental management more aggressively are more likely to reduce greenhouse gas (GHG) and pollution emissions more. However, this does not mean that firms with a voluntary stance on environmental management are more likely to reduce these emissions by implementing environmental management than those with a mandatory stance. Second, firms that reduce GHG emissions to a greater extent are more likely to enhance profit further, whereas this is not the case for firms that reduce pollution emissions more. Third, firms that reduce GHG emissions more are more likely to improve productivity and are not more likely to increase sales. Accordingly, firms can enhance profit by reducing GHG emissions through reducing production costs and not by increasing sales. These results imply that although Indonesian firms enhance their financial performance through better environmental performance to some extent, the effect on financial performance is not large. This is because they do not successfully achieve environmental innovation and the breakeven point of improving environmental performance does not decrease sufficiently.
ELSEVIER SCIENCE BV, Sep. 2017, ENVIRONMENTAL DEVELOPMENT, 23, 10 - 21, English[Refereed]
Scientific journal
Research institution
The focus of corporate environmental initiatives to reduce greenhouse gas (GHG) emissions has shifted from individual firms to supply chains, and to so-called low-carbon supply chain management (LCSCM). Because LCSCM is a more advanced environmental initiative than existing initiatives, this study empirically analyzes the influence of manufacturing firms’ LCSCM on their carbon productivity through GHG emissions reduction, with consideration given to the influence of environmental management systems (EMSs) as existing environmental initiatives. Our regression results using cross-sectional data on 139 Japanese manufacturing firms listed on the first section of the Tokyo Stock Exchange in 2011 suggest that although improved carbon productivity can only be achieved by firms implementing EMSs, those firms that also implement LCSCM could improve their carbon productivity further. It is also found that implementing LCSCM is not encouraged by EMSs, but rather by environmentally conscious interorganizational management control.
Physica-Verlag, 01 Feb. 2016, Journal of Management Control, 27 (1), 33 - 60, English[Refereed]
Scientific journal
[Refereed]
Scientific journal
[Refereed]
Scientific journal
Scientific journal
[Refereed]
Scientific journal
Scientific journal
This paper analyzes how a firm's management of greenhouse gas (GHG) emissions affects its economic performance. The theoretical model we derive from Cobb-Douglas production and inverse demand functions predict that in conducting GHG emissions management, a firm will enhance its economic performance because it promotes an increase in demand for its output and improves its productivity. The estimation results, using panel data on Japanese manufacturing firms during the period 2007-2008, support the view that a firm's GHG emissions management enhances a firm's economic performance through an increase in demand and improvement in productivity. However, the latter effect is conditional. Although a firm's efforts to maintain lower GHG emissions improves productivity, efforts to reduce GHG emissions further does not always improve it, especially for energy-intensive firms. Because firms attempting to maintain lower GHG emissions are more likely to improve their productivity, there is a possibility that firms with high GHG emissions can also enhance economic performance by reducing their emissions in the long term, even if additional costs are incurred. In addition, better GHG emissions management increases the demand of environmentally conscious customers because a product's life cycle GHG emissions in the upper stream of the supply chain influence those in the lower stream, and customers evaluate the suppliers' GHG emissions management in terms of green supply-chain management.
SPRINGER, Dec. 2014, JOURNAL OF PRODUCTIVITY ANALYSIS, 42 (3), 355 - 366, English[Refereed]
Scientific journal
Scientific journal
Scientific journal
Scientific journal
Scientific journal
[Refereed]
Scientific journal
Scientific journal
[Refereed]
International conference proceedings
This paper examines the influence of firms reductions of greenhouse gas (GHG) emissions on firm value, measured by Tobin's q. If the stockholders/investors regard the reduction of GHG emissions as a form of intangible value, the reduction of GHG emissions will enhance firm value. To prove this relation more precisely, this paper analyzes not only the effect of the reduction of GHG emissions on firm value but also that of the market discipline imposed by the stockholders/investors in terms of the reduction of GHG emissions. Using data on 641 Japanese manufacturing firms in the period 20062008, the random effect instrumental variable estimate supports the view that firms with strong market discipline imposed by stockholders/investors are more likely to reduce GHG emissions and, consequently, firms that reduce more GHG emissions are more likely to enhance firm value. Copyright (c) 2011 John Wiley & Sons, Ltd and ERP Environment.
WILEY PERIODICALS, INC, Dec. 2012, BUSINESS STRATEGY AND THE ENVIRONMENT, 21 (8), 517 - 529, English[Refereed]
Scientific journal
This paper examines the influence of firms reductions of greenhouse gas (GHG) emissions on firm value, measured by Tobin's q. If the stockholders/investors regard the reduction of GHG emissions as a form of intangible value, the reduction of GHG emissions will enhance firm value. To prove this relation more precisely, this paper analyzes not only the effect of the reduction of GHG emissions on firm value but also that of the market discipline imposed by the stockholders/investors in terms of the reduction of GHG emissions. Using data on 641 Japanese manufacturing firms in the period 20062008, the random effect instrumental variable estimate supports the view that firms with strong market discipline imposed by stockholders/investors are more likely to reduce GHG emissions and, consequently, firms that reduce more GHG emissions are more likely to enhance firm value. Copyright (c) 2011 John Wiley & Sons, Ltd and ERP Environment.
WILEY PERIODICALS, INC, Dec. 2012, BUSINESS STRATEGY AND THE ENVIRONMENT, 21 (8), 517 - 529, English[Refereed]
Scientific journal
This paper analyzes the relationship between a firm's greenhouse gas (GHG) emissions and its profitability in Japanese manufacturing. Defining the difference between the marginal revenue and cost of reducing GHG emissions as the "net benefit," which is endogenously characterized by various factors, we estimate a switching regression model where the sign of the net benefit determines the relationship between GHG emissions and profitability. Our empirical analysis focuses on ISO 14001 adoption, market competition, uncertainty, financial flexibility, and share ownership structure as the factors, and indicates that firms with low firm-specific uncertainty, high financial flexibility, and a high proportion of large shareholders tend to have a nonnegative net benefit, so that the positive relationship between their GHG emissions and profitability is mitigated. On the other hand, although ISO 14001 adoption is generally considered to be an indicator of a firm's stance on environmental proactiveness, it does not provide a sufficient incentive to reduce emissions. Factors such as uncertainty, financial flexibility, and share ownership structure are more important to GHG emission reductions.
SPRINGER, Dec. 2012, ENVIRONMENTAL & RESOURCE ECONOMICS, 53 (4), 455 - 481, English[Refereed]
Scientific journal
In this paper, to clarify whether a firm's voluntary approach to environmental protection is beneficial for both the environment and business, we analyze whether a firm's voluntary implementation of an environmental management system (EMS) simultaneously reduces its environmental impacts and improves its productivity. Using data on Japanese manufacturing firms for 2002-2008, we find empirical support for the view that the implementation of an EMS simultaneously reduces environmental impacts and improves productivity, and that a reduction in environmental impacts also improves productivity. However, in the context of this relationship, the direct effect of implementing an EMS on productivity is conditional. If various other activities designed to improve productivity implemented in response to market discipline are also taken into account, the effect of implementing an EMS is hidden by the effects of these activities. This implies that voluntary environmental management activities are merely a minor component of these activities. Therefore, the relationship between the implementation of an EMS and productivity improvement is not strong, although implementing an EMS indirectly improves productivity by reducing environmental impacts. (C) 2012 Elsevier Ltd. All rights reserved.
ACADEMIC PRESS LTD- ELSEVIER SCIENCE LTD, Aug. 2012, JOURNAL OF ENVIRONMENTAL MANAGEMENT, 105, 121 - 130, English[Refereed]
Scientific journal
Scientific journal
Scientific journal
Scientific journal
[Refereed]
Scientific journal
This paper analyzes whether the reduction of pollution emissions improves a firm's economic performance through the increase in sales to environmentally conscious customers and the cost reductions associated with the improvement in productivity. Because the selection of the control (end-of-pipe) or prevention (cleaner production) approach differently influences the effect through the improvement in productivity, this is also considered. Using panel data for Japanese manufacturing firms over the period 2002-2008, the findings indicate that firms that have reduced their pollution emissions can increase their economic performance through the increase in demand for their products and an improvement in productivity. However, the latter is conditional, and so the prevention approach is preferred. © 2011 Elsevier Ltd. All rights reserved.
Nov. 2011, Journal of Cleaner Production, 19 (17-18), 1956 - 1964, English[Refereed]
Scientific journal
This paper analyzes how a firm's reduction of its greenhouse gas (GHG) emissions affects its economic performance. The theoretical model used is derived from the Cobb–Douglas production function and the inverse demand function, and predicts that in reducing its GHG emissions, a firm will increase its value added because it promotes an increase in demand for its output and improves its productivity. The estimation results, using data on Japanese manufacturing firms, suggest that the reduction of GHG emissions increases a firm's economic performance only through an increase in demand. Thus, firms can improve their overall economic performance because increased demand accompanies their reduction of GHG emissions, even if they cannot achieve this through an improvement in productivity, as estimates here support the traditional view that reducing GHG emissions imposes additional costs on firms.
広島大学大学院国際協力研究科, Aug. 2011, IDEC DP2 Series, 1 (1), 1 - 21, English[Refereed]
Scientific journal
This paper investigates whether environmental management system (EMS) implementation influences a firm's value added, one of the indices of economic performance. Because it is expected that EMS implementation increases a firm's value added through an increase in demand and an improvement in productivity, a simple model to identify how these effects influence a firm's value added is developed and is empirically investigated using panel data for Japanese manufacturing firms in the period 1996-2007. The main findings are as follows. For the full sample, EMS implementation increases a firm's value added through an increase in demand and improvement in productivity. Among these firms, however, the positive effect of the implementation through an increase in demand mainly exists for export-oriented firms. At the industry level, the effects of EMS implementation vary among different industries. These results empirically prove that there are plural paths for EMS implementation to improve a firm's economic performance.
SPRINGER, Apr. 2011, ENVIRONMENTAL & RESOURCE ECONOMICS, 48 (4), 569 - 586, English[Refereed]
Scientific journal
[Refereed]
Scientific journal
This paper analyzes the environmental preferences and pressures of customers in environmentally conscious markets influencing the number of adoptions of ISO 14001-the international standard certified by the International Organization for Standardization (ISO) concerning an Environmental Management System (EMS) in a country. Customers in different countries have different priorities and ideas with regard to the environment and its management, and therefore it is possible that environmental preferences and pressures of customers in environmentally conscious markets are greater, although many earlier studies suggest that foreign customers generally form a significant stakeholder group encouraging the adoption of ISO 14001. A random-effects Tobit estimation using a sample of 155 countries over eight years supports the view that the environmental preferences and pressures of customers in environmentally conscious markets (including Finland, Japan, Germany and Denmark) are more likely to encourage domestic along with foreign suppliers to adopt ISO 14001. As it is easier for firms in environmentally conscious markets to adopt ISO 14001 because of their better economic performance, they have already adopted certification and consequently require their domestic and foreign suppliers to do likewise in the global supply chain. For this reason, suppliers wishing to access environmentally conscious markets can obtain an advantage with ISO 14001 certification. (C) 2009 Elsevier B.V. All rights reserved.
ELSEVIER SCIENCE BV, Aug. 2010, RESOURCE AND ENERGY ECONOMICS, 32 (3), 395 - 407, English[Refereed]
Scientific journal
This paper analyzes the environmental preferences and pressures of customers in environmentally conscious markets influencing the number of adoptions of ISO 14001-the international standard certified by the International Organization for Standardization (ISO) concerning an Environmental Management System (EMS)-in a country. Customers in different countries have different priorities and ideas with regard to the environment and its management, and therefore it is possible that environmental preferences and pressures of customers in environmentally conscious markets are greater, although many earlier studies suggest that foreign customers generally form a significant stakeholder group encouraging the adoption of ISO 14001. A random-effects Tobit estimation using a sample of 155 countries over eight years supports the view that the environmental preferences and pressures of customers in environmentally conscious markets (including Finland, Japan, Germany and Denmark) are more likely to encourage domestic along with foreign suppliers to adopt ISO 14001. As it is easier for firms in environmentally conscious markets to adopt ISO 14001 because of their better economic performance, they have already adopted certification and consequently require their domestic and foreign suppliers to do likewise in the global supply chain. For this reason, suppliers wishing to access environmentally conscious markets can obtain an advantage with ISO 14001 certification. © 2009 Elsevier B.V.
Aug. 2010, Resource and Energy Economics, 32 (3), 395 - 407, English[Refereed]
Scientific journal
Scientific journal
This paper analyzes stakeholders' environmental preferences/pressures and the financial flexibility that together influence firms to adopt ISO 14001, which is the international standard primarily concerned with an Environmental Management System (EMS). Since firms retain ISO 14001 once they have adopted it, a firm's decision to adopt ISO 14001 is considered from the period that they initially acquire the certification. Therefore, we assert that we have to focus on the determinants of initial ISO 14001 adoption. We analyzed: 1) the determinants of initial ISO 14001 adoptions respective to 1996, 1999, and 2004; and 2) the determinants of initial ISO 14001 adoptions during the period 1996-2004. The estimation results support the view that stakeholders' environmental preferences/pressures and firms' financial flexibility influenced their decision to adopt ISO 14001 in both analyses. Particularly, it is remarkable that we found that: 1) the determinants of the initial ISO 14001 adoption differed among the years of adoption; and 2) there is a positive relationship between economic performance and initial ISO 14001 adoption. (C) 2008 Elsevier B.V. All rights reserved.
ELSEVIER SCIENCE BV, Jan. 2009, ECOLOGICAL ECONOMICS, 68 (3), 669 - 679, English[Refereed]
Scientific journal
Technical report
Technical report
Others
Others
Others
Others
Others
Others
[Refereed]
Report scientific journal
Technical report
[Refereed]
Report scientific journal
General book
General book
Dictionary or encycropedia
Scholarly book
Scholarly book
Others
Oral presentation
Oral presentation
Oral presentation
Public discourse
Others
Others
Oral presentation
Oral presentation
Oral presentation
Oral presentation
Others
Oral presentation
Oral presentation
Oral presentation
Oral presentation
Oral presentation
Oral presentation
Oral presentation
Oral presentation
Others
Others
Oral presentation
Others
Others
Oral presentation
Oral presentation
Oral presentation
Oral presentation
Others
Oral presentation
Others
Oral presentation
Oral presentation
Oral presentation
Oral presentation
Oral presentation
Oral presentation
Others
Oral presentation
Oral presentation
Oral presentation
Oral presentation
Oral presentation
Oral presentation
Others
Oral presentation
Oral presentation
Others
Others
Others
Oral presentation
Oral presentation
Oral presentation
Oral presentation
Competitive research funding
Competitive research funding
Competitive research funding
Competitive research funding
Competitive research funding
1.日本企業による環境マネジメントシステムであるISO 14001導入の規定要因およびその導入がもたらす企業業績への影響についての研究 2.企業の社会環境情報開示に関する定量的および定性的研究
Competitive research funding