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Comparative analysis shows certified road transport companies outperform non-certified ones in profitability. This indicates that adopting environmental certification can enhance financial viability.
This research examines the relationship between environmental certification and the financial performance of road passenger transport companies during the period from 2010 to 2019. Through a comparative analysis of certified and non-certified companies, key financial ratios including return on assets (ROA), asset turnover (AT), net operating income per employee (NOIPE), and revenue growth (RG) are evaluated. The findings indicate that certified companies consistently outperform their non-certified counterparts in terms of profitability, revenue growth, and employee productivity. These results suggest that the implementation of environmental certifications can enhance competitiveness and financial outcomes, supporting the notion that environmental regulations can benefit both companies and society. It is anticipated that these findings will guide policymakers and managers in the transport sector towards more sustainable practices.
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Rubio et al. (2024) studied this question.
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