Title: Determinants of corporate green investment practices in the Johannesburg Stock Exchange listed firms

Authors: Ganda Fortune; Collins C. Ngwakwe; Cosmas M. Ambe

Addresses: Turfloop Graduate School of Leadership, Faculty of Management and Law, University of Limpopo, P.O. Box 756, Fauna Park 0787, South Africa ' Turfloop Graduate School of Leadership, Faculty of Management and Law, University of Limpopo, P.O. Box 756, Fauna Park 0787, South Africa ' School of Accountancy, Faculty of Management and Law, University of Limpopo (Turfloop Campus), Private Bag X1106, Sovenga 0727, South Africa

Abstract: The purpose of this study was to determine the factors which spur corporate green investment practices amongst 100 South African CDP companies listed on the Johannesburg Stock Exchange (JSE). The data were sourced from companies' annual sustainability reports over a period of five years (2010 to 2014). Using chi-square tests the findings indicate that legislation influences the corporate green investment practices of JSE listed firms as do corporate image, profitability and environmental consciousness. Legislation, corporate image, profitability and environmental consciousness also showed a significant relationship with the green investment practices of JSE listed firms. An increasing number of JSE listed firms supporting examined variables was also noted from 2010 to 2014. This study makes a modest contribution to knowledge by suggesting a framework to understand corporate green investment practice in JSE listed firms based on the study's findings and a review of the literature.

Keywords: environmental legislation; corporate image; green investment practices; profitability; environmental consciousness; Johannesburg Stock Exchange; JSE listed firms.

DOI: 10.1504/IJSE.2017.085067

International Journal of Sustainable Economy, 2017 Vol.9 No.3, pp.250 - 279

Received: 20 Sep 2016
Accepted: 23 Nov 2016
Published online: 10 Jul 2017 *

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