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Keywords :
Small and medium-sized enterprises, Green strategies, Financial per- formance, Corporate social responsibility, Flash Eurobarometer.
Abstract :
[en] To address the scarcity of sustainability data for SMEs, we conduct statistical
matching using information from the Flash Eurobarometer survey “SMEs, resource
efficiency, and green markets” alongside Orbis Europe. Examining over 30,000 firms
across 32 countries, our study delves into the association between SMEs’ green
strategies and their financial performance. Notably, we observe that prior financial success enhances the probability of SMEs adopting internal green strategies,
although it does not influence external green strategies. Moreover, the relationship
between green strategies and subsequent financial performance exhibits variability
based on industry, firm characteristics, and the environmental performance levels of
respective countries. This nuanced analysis sheds light on the intricate connections
between SMEs’ green initiatives and their financial outcomes.
