This dissertation was written as a part of the MSc in Energy Systems at the International
Hellenic University. It describes the various elements that compose ‘green’
companies as business environmentally friendly entities. How they are defined, their
philosophy, the problematic behind their green characteristics, their managerial elements
& incentives.
A thorough citation in literature is provided for the financial performance and the
tools available for this assessment. The most important analysis tools are extracted for
the use of this work. Literature review is also conducted on similar methodological
studies of other academics for the purpose of this dissertation.
A sample of 20 green companies is collected from a renowned sustainability index
(DJSI North America). This companies are presented and their financial data are been
gathered for the scope of the analysis. Empirical results are produced from the analysis
of the key financial ratios, in relation with the comparative ratios of S&P 500 index.
Finally useful conclusions are been drawn from the analysis of the empirical results.
I would like to thank Mr Dimitris Psychogios, my supervising professor and the people
of RobecoSAM Investment Company for their key contribution to my research.
Finally, for this thesis being the last step for the finalization of my Msc project, I
would like to offer my deepest thanks to my family for their support, the two honorable
professors from my old days in the Technical University of Crete, Mr Dimitrios
Emiris and Mr Nikos Matsatsinis for providing their references for me to begin this
master and the people of IHU for their always kindest and valuable co-operation.
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