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One can deduct from the above results that while a company’s environmental friendly performance affects their financial outcome in the short-term, overall, it does not make an impression on the market. The market does not notice the difference between environmental friendly groups.
These findings are interesting when compared with the results generated from earlier conducted studies that found that even though there are no short-term positive effects on financial performance, there are long-term positive financial effects to investing in environmental performance.
One of the obstacles this study faced had to make do with very limited data sources. Because it is hard to measure the precise relationship between environmental performance and financial performance, to date, not many databases exist. Thus, it may be beneficial for a follow-up study to be conducted once other databases are established.
In addition, because people are influenced by those in high power, one way to promote environmental performance is to encourage the government, the most powerful customer, to develop environment-friendly purchasing strategies. Therefore, a follow-up study could examine effective methods of installing and ensuring governments support and cooperation in environmental management.
By systematical implementation of environmental policy, the intrinsic value of the company helps solve the earth environmental problems, which therefore, allows the economy and the environment to coexist

2. Corporate environment performance: past & present
Environmental management means compliance with government regulation. Environmental investments were often considered as a necessary evil in the business field necessary that they meet social standards for controlling pollution, because they resulted in lower profitability by diverting resources to a fundamentally non-productive use (Cohen, fenn & konar, 1995). A movement towards a more proactive approach evolved in the 1980s but did not receive significant attention in the business world or the academic literature until the early 1990s
In 1992, more than 100 head of state met in rio de janerio, brazil for the united nations conference on environment and development. The earth summit convened to address urgent problems of environmental protection and socio-economic development. The assembled leaders signed the framework convention on climate change and the convention on biological diversity; endorsed the rio declaration the forest principle; and adopted agenda 21, a 300page pan challenging businesses and industries to incorporate environmental considerations into their management and operations in addition, the commission on sustainable development was developed. It was decided that the CSD would be responsible for monitoring and reporting on implementation of the earth summit agreements at the local, national, regional and international levels.
Over the last several years, a growing number of corporate leaders have accepted the idea that environmental performance is an important component of competitive advantage. Leaders in business, government, academia, public interest organizations, and communities are responding with innovative new solutions to sustainability issues in business and industry. Furthermore, companies are progress