Over the past several years, sustainable activities have become increasingly important to academic research and business practices around the globe. However, the nature and type of the potential financial benefits of environmentally oriented information and communication technologies at the corporate level remain poorly understood. To address this gap in the literature, this paper presents novel empirical evidence on the possible effect of Green Information Technologies (GIT) implementation on various aspects of shareholder value creation and financial performance. Using content analysis of corporate disclosures and financial data of 162 companies listed on the Frankfurt Stock Exchange during the period 2007-2016, we find that firms with GIT are characterized by higher subsequent returns on assets and the market-to-book values of assets ratios. Additionally, we observe that companies introducing GIT solutions experience permanently lower operating margins and higher costs of goods sold to net sales ratios. Furthermore, companies characterized by more efficient management of assets to generate earnings and more favorable market valuation are generally more inclined to engage in GIT activism. The findings also suggest that factors such as size, sector in which a given company operates, and percentage of women among the top five officers are not indifferent to the implementation of GIT solutions. Overall, this study extends the understanding of financial performance implications of environmentally friendly information technologies.
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