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ons. The US electric utility industry will be analyzed in order to determine whether disclosing environmental practice improved its financial performance or not. This industry represents a good starting point for the research since investment in environmental projects are easily traceable and the firms in this sector are the most experienced in the application of ambient regulation and practices. The article to be used as a guide is: 'Can environmental investment and expenditure enhance financial performance of US electric utility firms under the clean air act amendment of 1990?' by Toshiyuki Sueyoshi and Mika Goto (Sueyoshi, T., Goto, M., 2009). This article presents a comprehensive view of the financial results of this industry after almost two decades of ambient legislation.

The issue raised from this previous analysis is, then, 'Is there any correlation between environmental investment and disclosure, and company's financial performance?' The aim of the research, therefore, will be focused on finding the tangible benefits that both ambient projects and the disclosure of this information produce in firm's annual results. So far, environmental disclosure is voluntary. Its content and extent are entirely defined by the company.

This report is aimed at providing deep information on the raised issue. The first section provides background information on environmental disclosure. The second piece explains the rationale behind ambient disclosure. The third portion comments about impact and benefits of environmental disclosure in firm's financial performance. The forth segment presents information from different countries and how this issue is tackled worldwide. The fifth parcel presents the perception of different actors about the topic and concludes.

背景——Background

It is a common thought that the objectives of business and the environment seemed irreMediably irreconcilable. In other words, what helped one would almost certainly harm the other. Almost two decades of ambient initiatives in the international corporations has given room to a more optimistic mind-set which promises reconciliation of environmental and economic concerns. Environmental improvements is often the best way to increase a company's efficiency and, as a consequence, profitability (Zhang, B., et al, 2008). Environmentalists present projects that benefit the environment and create financial value. However, environmental expenditures are significant and hide the benefits of win-win opportunities. That does not imply that managers should return to their old ways of fighting, ignoring, and hamstringing any and all environmental regulatory efforts. The challenge is, then, to identify the projects that will have the greatest impact. In this manner, managers must concentrate on finding smarter and finer trade-offs between business and environmental concerns. At this point, the environmental challenges become more complex and costs continue to shoot up, therefore, win-win solutions will become increasingly scarce (Lopez-Gamero, M.D., et al, 2010).

Firm's management has a growing array of choices to respond to environmental pressures. However, managers lack of frameworks that allow them to turn their good intentions into reality. A feasible option is the free trade. In this fashion, market prices would be able to reflect the comprehensive societal impact of products and proce本论文由英语论文网提供整理，提供论文代写，英语论文代写，代写论文，代写英语论文，代写留学生论文，代写英文论文，留学生论文代写相关核心关键词搜索。