Economic Themes (2025) 63 (2) 2, 133-148
Tatjana Stevanović, Marija Petrović-Ranđelović, Ivana Filipović
Abstract: Sustainability has become a very important area for researchers in the past decade due to the imperative that companies must create value for their shareholders while fulfilling their social responsibilities in order to create a sustainable world. The purpose of this paper is to examine the connection between the increase in the economic value of the company NIS AD Novi Sad and its financial and non-financial performance in the period from 2013 to 2023. The focus of the research is providing an answer to the question of whether and to what extent environmental indicators influence the increase of economic value for the company, taking into account key financial indicators. By applying the regression analysis, this paper will identify the key factors that contribute to sustainable business and improvement of the company's operational efficiency. The results of the research confirmed the importance of integrating the principles of sustainable development for the strategic management of the company and achieving long-term sustainable growth, due to the fact that higher emissions of harmful substances correlate with a decrease in the economic value of the company, but also due to the fact that larger environmental investments contribute to increasing the economic value of the company. Accordingly, recommendations were made regarding the operational and strategic decisions that should be made by the company's management in the following period in order to improve the company's environmental performance.
Keywords: environmental indicators; economic value; sustainable development; NIS AD company
THE INFLUENCE OF ENVIRONMENTAL INDICATORS ON THE ECONOMIC VALUE OF THE COMPANY: THE EXAMPLE OF NIS AD COMPANY
Tatjana Stevanović, Marija Petrović-Ranđelović, Ivana Filipović
Abstract: Sustainability has become a very important area for researchers in the past decade due to the imperative that companies must create value for their shareholders while fulfilling their social responsibilities in order to create a sustainable world. The purpose of this paper is to examine the connection between the increase in the economic value of the company NIS AD Novi Sad and its financial and non-financial performance in the period from 2013 to 2023. The focus of the research is providing an answer to the question of whether and to what extent environmental indicators influence the increase of economic value for the company, taking into account key financial indicators. By applying the regression analysis, this paper will identify the key factors that contribute to sustainable business and improvement of the company's operational efficiency. The results of the research confirmed the importance of integrating the principles of sustainable development for the strategic management of the company and achieving long-term sustainable growth, due to the fact that higher emissions of harmful substances correlate with a decrease in the economic value of the company, but also due to the fact that larger environmental investments contribute to increasing the economic value of the company. Accordingly, recommendations were made regarding the operational and strategic decisions that should be made by the company's management in the following period in order to improve the company's environmental performance.
Keywords: environmental indicators; economic value; sustainable development; NIS AD company
