Forced to be green? The performance impact of energy-efficient systems under institutional pressures

With institutional pressures from various stakeholders concerned with climate change and efficient energy use in firms' operations, it has formed the belief that efficiency is crucial part for sustainable operations firm competitiveness. While an increasing number of firms have adopted energy-efficient systems (EES), a limited understanding actual impact EES adoption on financial performance how moderate remains. Based 238 listed deployed EES, study reveals improve their return assets (ROA), different significant diverse effects adoption. imposed by government policies environmental non-government organizations (NGOs) provide less benefits competitors more EES. The research provides empirical evidence policies, groups, affect EES-performance relationship. We also discuss implications findings managers, public policymakers, NGOs, academia.