The impact of environmental taxes on the financial security of the logistics sector

• Autorzy: Kowalska Magdalena , Misztal Anna , Gniadkowska-Szymańska Agata

Identyfikatory

DOI

10.29119/1641-3466.2024.191.19

• Języki publikacji: EN

Abstrakty

EN

Purpose: The main aim of this paper is to assess the impact of environmental taxes on the financial security of the logistics sector in Poland from 2008 to 2020. Design/methodology/approach: We normalize diagnostic variables into synthetic indicators to verify the hypothesis. We use the classical least squares method (OLS). Findings: The results indicate a positive trend in the financial security of the logistics sector in Poland from 2008 to 2020. However, in 2020, there was a certain breakdown in financial security caused by the outbreak of the COVID-19 pandemic. Moreover, environmental taxes statistically significantly impact the logistics sector's financial security (p < 0.05). Research limitations/implications: The availability of data, the choice of normalization method and the estimation method for the model. Practical implications: The research results indicate that the logistics sector should analyze regulations in shaping the EU environmental protection policy, including, above all, environmental taxes. Social implications: Environmental taxes are an important element influencing the development of the logistics sector, including issues related to residents' quality and living conditions. Originality/value: The novelty in the paper is the creation of models of the impact of environmental taxes on the financial security of the logistics sector. The paper addresses many recipients interested in the logistics sector's financial situation and environmental taxes.

Słowa kluczowe

EN

environmental taxes; financial security; logistics sector

PL

podatki środowiskowe; bezpieczeństwo finansowe; sektor logistyczny

• Wydawca: Wydawnictwo Politechniki Śląskiej
• Czasopismo: Zeszyty Naukowe. Organizacja i Zarządzanie / Politechnika Śląska
• Rocznik: 2024
• Tom: z. 191
• Strony: 291--303
• Opis fizyczny: Bibliogr. 54 poz.

Twórcy

autor

Kowalska Magdalena

• Faculty of Economics and Sociology, University of Lodz

• https://orcid.org/0000-0002-5821-0305

autor

Misztal Anna

• Faculty of Economics and Sociology, University of Lodz

• https://orcid.org/0000-0002-7455-5290

autor

Gniadkowska-Szymańska Agata

• Faculty of Economics and Sociology, University of Lodz

• https://orcid.org/0000-0002-7321-3360

Bibliografia

• 1. Abdullah, H., Tursoy, T. (2023). The effect of corporate governance on financial performance: evidence from a shareholder-oriented system. Iranian Journal of Management Studies, 16(1), 79-95.
• 2. Ahmed, A.M., Nugraha, D.P., Hágen, I. (2023). The Relationship between Capital Structure and Firm Performance: The Moderating Role of Agency Cost. Risks, 11(6), 102.
• 3. Alnadzhar, A. (2023). Formation of the company's financial security strategy in conditions of macroeconomic instability. Věda a perspektivy, 7(26).
• 4. Andriollo, E., Secco, L., Caimo, A., Pisani, E. (2023). Probabilistic network analysis of social-ecological relationships emerging from EU LIFE projects for nature and biodiversity: An application of ERGM models in the case study of the Veneto region (Italy). Environmental Science & Policy, 148, 103550.
• 5. Aziz, A., Lawson, G.H. (1989). Cash flow reporting and financial distress models: Testing of hypotheses. Financial Management, 55-63.
• 6. Barde, J.P., Owens, J. (1996). The evolution of eco-taxes. Organisation for Economic Cooperation and Development. The OECD Observer, 198, 11.
• 7. Bernardo, V., Fageda, X., Flores-Fillol, R. (2021). Pollution and congestion in urban areas: The effects of low emission zones. Economics of Transportation, 26, 100221.
• 8. Bolek, M., Gniadkowska-Szymańska, A. (2021). The Condition of Companies and their Growth Based on the Example of Companies Included in WIG and DAX Indices. Finanse i Prawo Finansowe, 2(30), 25-44.
• 9. Bolek, M., Gniadkowska-Szymańska, A. (2023). Factors Determining the Financial Condition on the Example of WSE Listed Companies. Finanse i Prawo Finansowe, 7-22.
• 10. Burns, C., Eckersley, P., Tobin, P. (2020). EU environmental policy in times of crisis. Journal of European Public Policy, 27(1), 1-19.
• 11. Camilleri, M.A. (2020). European environment policy for the circular economy: Implications for business and industry stakeholders. Sustainable Development, 28(6), 1804-1812.
• 12. Chioatto, E., Sospiro, P. (2023). Transition from waste management to circular economy: the European Union roadmap. Environment, Development and Sustainability, 25(1), 249-276.
• 13. Delas, V., Nosova, E., Yafinovych, O. (2015). Financial security of enterprises. Procedia economics and finance, 27, 248-266.
• 14. Ferrari, M.M., Pagliari, M.S. (2021). No country is an island. International cooperation and climate change. International Cooperation and Climate Change (June 2021). Banque de France Working Paper, 815.
• 15. Fetting, C. (2020). The European green deal. ESDN report, 53.
• 16. Fleischer, V. (2015). Curb your enthusiasm for Pigovian taxes. Vand. L. Rev., 68, 1673.
• 17. Fu, Q., Chen, Y.E., Jang, C.L., Chang, C.P. (2020). The impact of international sanctions on environmental performance. Science of the Total environment, 745, 141007.
• 18. Gallati, R.R. (2022). Risk management and capital adequacy. McGraw-Hill.
• 19. Hakonsen, L. (2001). A note on green taxes and double dividends. International Tax and Public Finance, 8, 75-80.
• 20. Hasanudin, H. (2023). Effect of Return on Assets, Current Ratio and Degree of Leverage on Debt To Equity Ratio Mixed Private Banking Sector Listed On The Indonesia Stock Exchange 2016-2020. International Journal of Artificial Intelligence Research, 6(1.2).
• 21. Hermoso, V., Carvalho, S.B., Giakoumi, S., Goldsborough, D., Katsanevakis, S., Leontiou, S., ..., Yates, K.L. (2022). The EU Biodiversity Strategy for 2030: Opportunities and challenges on the path towards biodiversity recovery. Environmental Science & Policy, 127, 263-271.
• 22. Hussain, R.Y., Wen, X., Hussain, H., Saad, M., Zafar, Z. (2022). Do leverage decisions mediate the relationship between board structure and insolvency risk? A comparative mediating role of capital structure and debt maturity. South Asian Journal of Business Studies, 11(1), 104-125.
• 23. Ingre‐Khans, E., Ågerstrand, M., Beronius, A., Rudén, C. (2019). Toxicity studies used in registration, evaluation, authorisation and restriction of chemicals (REACH): How accurately are they reported? Integrated environmental assessment and management, 15(3), 458-469.
• 24. Jagadeeswaran, I., Sriram, H. (2022). EU 1907/2006–Registration, Evaluation, Authorisation and Restriction of Chemicals. In: Medical Device Guidelines and Regulations Handbook (pp. 237-260). Cham: Springer International Publishing.
• 25. James, N., Menzies, M., Gottwald, G. A. (2022). On financial market correlation structures and diversification benefits across and within equity sectors. Physica A: Statistical Mechanics and its Applications, 604, 127682.
• 26. Kasayanond, A., Umam, R., Jermsittiparsert, K. (2019). Environmental sustainability and its growth in Malaysia by elaborating the green economy and environmental efficiency. International Journal of Energy Economics and Policy, 9(5), 465-473.
• 27. Kehinde, A.O., Osadola, I.O., Awonuga, A. (2023). Reflection on Nigeria’s Air Pollution Regulations with a View to Learning from the European Union. AUC IURIDICA, 69(1), 105-118.
• 28. Kilincarslan, E. (2021). The influence of board independence on dividend policy in controlling agency problems in family firms. International Journal of Accounting & Information Management, 29(4), 552-582.
• 29. Ko, C., Lee, P., Anandarajan, A. (2019). The impact of operational risk incidents and moderating influence of corporate governance on credit risk and firm performance. International Journal of Accounting & Information Management, 27(1), 96-110.
• 30. Kuklinska, K., Wolska, L., Namiesnik, J. (2015). Air quality policy in the US and the EU–a review. Atmospheric Pollution Research, 6(1), 129-137.
• 31. Laeven, L., Popov, A. (2023). Carbon taxes and the geography of fossil lending. Journal of International Economics, 144, 103797.
• 32. Lange, A., Requate, T. (2000). Pigouvian taxes in general equilibrium with a fixed tax redistribution rule. Journal of Public Economic Theory, 2(1), 25-42.
• 33. Lee, S. (2023). The Benefits and Costs of a Small Food Waste Tax and Implications for Climate Change Mitigation. Working Paper.
• 34. Martin, A., Scott, I. (2003). The effectiveness of the UK landfill tax. Journal of environmental planning and management, 46(5), 673-689.
• 35. Metcalf, G.E., Stock, J.H. (2020, May). Measuring the macroeconomic impact of carbon taxes. In: AEA papers and Proceedings, Vol. 110 (pp. 101-106). 2014 Broadway, Suite 305, Nashville, TN 37203: American Economic Association.
• 36. Najarzadeh, R., Dargahi, H., Agheli, L., Khameneh, K.B. (2021). Kyoto Protocol and global value chains: Trade effects of an international environmental policy. Environmental Development, 40, 100659.
• 37. Nasihin, I., Purwandari, D. (2022). Analysis of the Effect of Profitability, Liquidity, and Firm Size on the Timeliness of Financial Report Submission. Jurnal Maksipreneur: Manajemen, Koperasi, dan Entrepreneurship, 12(1), 33-44.
• 38. Palepu, K.G., Healy, P.M., Wright, S., Bradbury, M., Coulton, J. (2020). Business analysis and valuation: Using financial statements. Cengage AU.
• 39. Rezania, S., Oryani, B., Nasrollahi, V.R., Darajeh, N., Lotfi Ghahroud, M., Mehranzamir, K. (2023). Review on waste-to-energy approaches toward a circular economy in developed and developing countries. Processes, 11(9), 2566.
• 40. Rigo, A., Andriollo, E., Pisani, E. (2022). Intermediary Organizations in Nature Conservation Initiatives: The Case of the EU-Funded LIFE Programme. Sustainability, 14(13), 7618.
• 41. Rodríguez-Pérez, A.M., Rodríguez-Gonzalez, C.A., López, R., Hernández-Torres, J.A., Caparrós-Mancera, J.J. (2023). Water Microturbines for Sustainable Applications: Optimization Analysis and Experimental Validation. Water Resources Management, 1-15.
• 42. Runst, P., Höhle, D. (2022). The German eco tax and its impact on CO2 emissions. Energy Policy, 160, 112655.
• 43. Sandmo, A. (1978). Direct versus indirect Pigovian taxation. European Economic Review, 7(4), 337-349.
• 44. Shatanawi, M., Abdelkhalek, F., Mészáros, F. (2020). Urban congestion charging acceptability: An international comparative study. Sustainability, 12(12), 5044.
• 45. Shkolnyk, I.O., Kozmenko, S.M., Polach, J., Wolanin, E. (2020). State financial security: Comprehensive analysis of its impact factors.
• 46. Sikora, A. (2021, January). European Green Deal–legal and financial challenges of the climate change. Era Forum, Vol. 21, No. 4 (pp. 681-697). Berlin/Heidelberg: Springer.
• 47. Steinebach, Y. (2022). Instrument choice, implementation structures, and the effectiveness of environmental policies: A cross‐national analysis. Regulation & Governance, 16(1), 225-242.
• 48. Széchy, A. (2011). Impact Assessment in the European Union: The Example of the Registration, Evaluation, Authorisation and Restriction of Chemicals (REACH). Environmental Management Accounting and Supply Chain Management, 353-366.
• 49. Tankosić, J.V. (2023). Environmental policy and air quality standards of the European Union. J. Agron. Technol. Eng. Manag, 5, 818-825.
• 50. Turner, R.K., Salmons, R., Powell, J., Craighill, A. (1998). Green taxes, waste management and political economy. Journal of environmental management, 53(2), 121-136.
• 51. Vovchenko, N.G., Holina, M.G., Orobinskiy, A.S., Sichev, R. (2017). Ensuring financial stability of companies on the basis of international experience in construction of risks maps, internal control and audit.
• 52. Wang, L., Muniba, Lakner, Z., Popp, J. (2023). The Impact of water resources tax policy on water saving behavior. Water, 15(5), 916.
• 53. West, J., Börjesson, M. (2020). The Gothenburg congestion charges: cost–benefit analysis and distribution effects. Transportation, 47(1), 145-174.
• 54. Zhou, X., Wei, X., Lin, J., Tian, X., Lev, B., Wang, S. (2021). Supply chain management under carbon taxes: A review and bibliometric analysis. Omega, 98, 102295.