مجلة الباحث الإقتصادي
Volume 14, Numéro 1, Pages 55-73
2026-06-30
The Impact Of Environmental Performance On Profitability Evidence Of European Construction Companies, From 2018 To 2024 Using Generalized Method Of Moments
Authors : Arrouf Afifa .
Abstract
This study aims to evaluate the dynamic impact of environmental variables on profitability in eight European companies in the construction sector, over the period 2018–2024. A one-step difference Generalized Method of Moments (GMM) model with lagged effects is employed to capture both immediate and delayed impacts. The results show that emission intensity negatively affects net profit at lag 1 and becomes positive at lag 2. The impact of total intensity is immediate and negative on operating margin and not significative at all on the net profit. Diverted waste reveals a delayed positive impact on both net profit and operating margin. Renewable energy has an immediate negative impact on operating margin, while its impact on net profit is delayed and initially negative. These findings confirm that the relationship between environmental variables and profitability in the European construction sector is dynamic over time , suggesting that AI represents the ultimate technological catalyst required to resolve temporal lags and translate immediate environmental costs into sustainable financial returns .
Keywords
Environmental Performance ; net profit ; operating margin ; Construction ; GMM
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