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1.
&#x;brahim Topal Sima Nart Cüneyt Akar Alptekin Erkollar 《Business Strategy and the Environment》2020,29(2):465-480
The effect of the Volkswagen emission crisis in 2015, the biggest greenwashing event in recent years, on the online consumer engagement of Facebook brand pages was investigated in France, Germany, Turkey, and the United Kingdom. These countries have been selected for the reason that Volkswagen sales and diesel‐engine cars and the use of social media are quite common. For 6 years in these four countries, the likes, comments, and shares made by consumers on the Facebook brand page of Volkswagen have been examined. The monthly dataset covers January 2012 to December 2017. The obtained data were analyzed with autoregressive–moving average models. Despite a globally positive approach to green products, countries' attitudes toward greenwashing have been significantly different. The findings showed that online consumer engagement was negative in the United Kingdom and Turkey and in a positive direction in Germany, whereas there was no change in France in the fourth quarter of 2015. 相似文献
2.
Danquah Jeff Boakye Ishmael TIngbani Gabriel Ahinful Isaac Damoah Venancio Tauringana 《Business Strategy and the Environment》2020,29(6):2583-2602
In this article, we investigate the financial implication of sustainable environmental practices on UK small and medium‐sized enterprises (SMEs)–traded firms. Existing literature indicates that there is a direct relationship between sustainable environmental practices and financial performance. However, studies looking at this relationship have focused mainly on large firms with little attention paid to SMEs. Further, those looking at environmental and financial performance relationships have often used a single measure of performance in their studies. This study bridges these research gaps by focusing on listed SMEs in the United Kingdom using multiple measures of sustainable environmental policy indices on a panel of 201 SMEs on the Alternative Investment Market from 2011 to 2016. Evidence from our panel data analysis suggests significant and a nonlinear (concave) relationship between sustainable environmental practices and firms' financial performance. Specifically, energy efficiency practices, greenhouse gases, material, and resource efficiency revealed an inverted U‐shaped relationship with financial performance. The results will offer guidance to management in terms of allocating resources to sustainable environmental practices investment. 相似文献
3.
We draw upon the stigma literature and strategic stakeholder management model to develop a framework capable of explaining the link between environmental corporate social responsibility (ECSR) engagement and financial performance of stigmatized firms, taking stakeholder‐oriented governance and density of local stigmatized firms into consideration. Using a uniquely compiled dataset of Chinese firms specifically monitored by the Ministry of Environmental Protection of China, we conducted propensity score matching analysis to estimate the impact of stigma on corporate financial performance and corporate environmental responsibility. The result shows that the financial performance of stigmatized firms is negatively affected by the stigma label, spurring them to engage in more ECSR than their peers to improve their legitimacy. Though ECSR engagement of stigmatized firms is found to be negatively associated with their financial performance in current study. Our results also confirm that (a) the financial performance of stigmatized firms is positively affected by two proxies for corporate stakeholder‐oriented governance (i.e., institutional ownership and corporate transparency) and negatively affected by the density of local stigmatized firms; (b) corporate stakeholder‐oriented governance compensates for the negative effect of ECSR engagement; (c) high intensity of local stigmatized firms provides focal firms with an opportunity to improve their financial performance through ECSR engagement; and (d) the positive effects of corporate stakeholder‐oriented governance are diminished by the density of local stigmatized firms. 相似文献
4.
针对企业“漂绿”问题屡禁不止的现状,分析了业绩期望落差对企业“漂绿”行为的影响机理,并以2010—2019年A股重污染行业上市公司为样本进行实证检验。研究发现：业绩期望落差会诱发企业“漂绿”行为,且主要表现为对环境实践的选择性披露;而且,业绩期望落差持续的时间越长,其对企业“漂绿”行为的影响越显著。进一步的路径检验表明,业绩期望落差会恶化企业融资约束和加剧管理层短视,进而导致“漂绿”行为。此外,不同类型规制工具对“漂绿”的治理效应存在差异,其中,命令控制型环境规制及本地媒体监督能够抑制业绩期望落差驱动的企业“漂绿”行为,但市场激励型、公众参与型环境规制以及异地媒体监督的治理效应不明显。 相似文献
5.
Peter Kotzian; 《Business Strategy and the Environment》2024,33(3):1610-1625
Sustainability issues became ever more important for firms' business strategies. Not living up to public and stakeholders' expectations results in controversies damaging the firm's reputation. Firms integrate sustainability aspects – environmental, social, and governance (ESG) issues – in their business strategies to satisfy stakeholders ranging from customers to investors. Substantial resources are invested to increase their sustainability engagement to avoid sustainability-related controversies. However, the degree to which sustainability engagement is effective is an open issue, as the occurrence of sustainability-related controversies has structural components, which are under the firms' control, but also random components. Using data on firms' sustainability engagement, this paper investigates to what degree firms can actually avoid controversies by engaging in sustainability and to what degree such controversies are caused by factors beyond the firm's control, like random events or the societal environment. Our findings indicate strong sustainability engagement to be a significant factor for avoiding controversies, albeit the magnitude of the effect is very limited. While controversies are not purely random events, they are driven strongly by factors beyond the firm's strategic control, like firm size and country of origin. 相似文献
6.
Jie Wu 《Business Strategy and the Environment》2015,24(3):175-189
Drawing on the resource dependence theory, the stakeholder perspective and environmental management capabilities, this study examined the relationship between the heterogeneity of customer pressures and the varying levels of environmental policies in China. Data on 1215 Chinese manufacturing firms were analyzed to demonstrate that environmental pressures emanating from different types of customer have different impacts on firm environmental conduct and that the pressures from multinational consumers have a stronger effect on local Chinese suppliers’ propensity to reduce product environmental risks than those from local consumers. Copyright © 2013 John Wiley & Sons, Ltd and ERP Environment. 相似文献
7.
Benedetta Esposito;Daniela Sica;Stefania Supino;Ornella Malandrino; 《Business Strategy and the Environment》2024,33(6):5109-5126
This paper investigates whether and to what extent circular economy performance affects the financial performance of a global sample of listed agri-food firms. Furthermore, the potential moderating role of stakeholder engagement in empowering this relationship has been tested. A circular economy performance index has been developed based on Environmental Social and Governance scores reclassified in the light of the reuse, reduce, recovery and recycling (4R) paradigm. Then, a multivariate regression model from 2015 to 2022 has been carried out. A broader theoretical framework has been adopted, combining the natural resource-based view and stakeholder theory. The results show a positive relationship between the circular economy performance, the financial performance and the boosting function played by stakeholder engagement. The study findings provide stimuli for academics and managers to reflect on the profitability of the circular economy and the pivotal role of stakeholder engagement in giving a significant impulse to the circular transition. 相似文献
8.
Muhammad Nadeem Ernest Gyapong Ammad Ahmed 《Business Strategy and the Environment》2020,29(3):1268-1284
Prior literature on firm value creation for stakeholders has oversimplified and narrowed the concept of value down to “economic returns.” Although economic returns are fundamental to a firm's core stakeholders (i.e., shareholders), other legitimate stakeholders want “value” beyond economic returns. We define stakeholder value as the financial and nonfinancial returns a firm can offer to its legitimate stakeholders, and empirically investigate whether board gender diversity (BGD) improves our multidimensional measure of value. Using Thomson Reuters' ASSET4 data for U.K.‐listed firms available from Eikon for the period 2007–2017, we report a significant positive relationship between BGD and stakeholder value creation. In particular, BGD increases social and environmental value creation in addition to economic returns. Furthermore, our results suggest that even though gender‐diverse boards are associated with stakeholder value creation in family firms, this is only conspicuous for environmental value creation. The findings suggest that although female directors cater to the interests of broader stakeholder groups, family ownership causes them to mainly focus on environmental stakeholders. The study provides important implications for regulators, stakeholders, and academic scholars. 相似文献
9.
Albert Danso Samuel Adomako Joseph Amankwah‐Amoah Samuel Owusu‐Agyei Renata Konadu 《Business Strategy and the Environment》2019,28(5):885-895
Extant research has established that environmental sustainability orientation (ESO) has a positive influence on performance outcomes. Nevertheless, several contingencies tend to affect the strength of this relationship. In this study, we draw on natural resource‐based theory to introduce competitive strategies as moderators in the ESO–performance nexus. Using time‐lagged data obtained from 269 firms in Ghana, this study finds that firms pursuing the differentiation strategy can positively boost performance outcomes with ESO than without differentiation strategy. We also find that firms can use the low‐cost or the integrated strategy to get higher impact on performance with ESO, respectively. Based on the results, firms in Ghana do not need differentiation strategy in order to boost the effect of ESO on financial performance. Theoretical and practical implications are discussed. 相似文献
10.
Hsiu‐Hua Chang Shin‐Hua Tsai Chun‐Chen Huang 《Business Strategy and the Environment》2019,28(8):1497-1506
Sustainable development is a key issue for society. Beside corporate's efforts, consumers should have responsibilities for environmental protection and consider sustainable coexistences between future generations and natural ecosystems. In this study, a 4 × 2 factorial between‐subject experiment is adopted to develop eight environmental policy disclosure scenarios based on different environmental advertising claims (product orientation, process orientation, image orientation, and environmental fact) and eco‐labels (available/unavailable) to explore the effect of consumer attitudes and behaviors. This study's results show that environmental advertising claims have significant effects on consumers' attitudes. The product, process, and image orientation advertising, along with advertising with eco‐labels, can induce more positive attitudes and stronger purchase intentions. Individuals with greater environmental concerns have a significant positive attitude toward environmental advertising. Consumer attitudes toward environmental advertising also have positive effects on purchase intentions and sustainable consumption behaviors. Finally, this study offers useful findings, practical implications, and insights. 相似文献
11.
We examine 45 existing case studies of firms with strong corporate environmental performance (CEP) to empirically identify four organizational configurations for successful sustainability. These four configurations represent different combinations of variables describing a firm's external environment, organizational structure, and its strategy‐related activities. More specifically, these configurations vary in having a benign or challenging external environment, a mechanistic or organic structure, a low‐cost or differentiation strategy, hands‐on or hands‐off participation by the top management team, high or low consideration given to stakeholders, and a short‐ or long‐term time orientation. Taken together the four organizational configurations introduce an understanding of equifinality for achieving CEP. In other words, given an adequate variety of ingredients, there are multiple recipes for successful sustainability. Implications for scholars, practitioners and policy‐makers and other stakeholders are discussed. Copyright © 2013 John Wiley & Sons, Ltd and ERP Environment. 相似文献
12.
Jianming Zhang Gongqian Liang Taiwen Feng Chunlin Yuan Wenbo Jiang 《Business Strategy and the Environment》2020,29(1):39-53
Although environmental regulations have been considered as important forces of conducting green innovation, how and under what conditions they affect green innovation are still unclear. Drawing from institutional theory, this study used survey data from 237 manufacturing firms in China to investigate how two dimensions of environmental regulations (i.e., command and control regulation and market‐based regulation) affect green product innovation and green process innovation. Further, this article examined the mediating role of external knowledge adoption and the moderating role of green absorptive capacity. Our results indicate that both command and control regulation and market‐based regulation have positive influences on external knowledge adoption. External knowledge adoption fully mediates these positive relationships. In addition, green absorptive capacity only strengthens the positive impact of market‐based regulation on external knowledge adoption. Our study contributes to institutional theory and green innovation literature. 相似文献
13.
An intensive debate has been occurring among academics, consultants and corporate executives, resulting in many definitions of a more humane, more ethical and more transparent manner of conducting business. They have created, supported or criticized related concepts such as sustainable development, corporate citizenship, sustainable entrepreneurship, the triple bottom line, business ethics and corporate social responsibility (Van Marrewijk, 2003 ). In the midst of LPG (liberalization, privatization and globalization), with market expansion occurring and the customer base needing to be widened for long‐term profitability, can enterprise opt for sustainability through the stakeholder approach? Interestingly, the ITC (Imperial Tobacco Company) is a firm committed to the core values of sustainable development in agrobusiness and in other activities, which has made the corporation well known for its stand on sustainability. Hence, this study begins with a brief literature review on sustainable enterprise and an introduction to familiarize the reader with the case organization, to examine what has made the ITC remain a stalwart in sustainable development and to identify the factors that drive the ITC's vision of sustainability. Based on the identified factors, total interpretive structural modeling (TISM) has been used to evolve a framework of sustainable enterprises on the star model (Sushil, 2010 ), which explains the customer and the government as driving factors for sustainability along with the triple bottom line. To validate our study, data on surrogate measures of some of the variables have been taken from the annual reports of the ITC and the validation is performed using linear regression analysis. Finally, the future research scope and limitations of the study are discussed. Copyright © 2017 John Wiley & Sons, Ltd and ERP Environment 相似文献
14.
Mahabubur Rahman Saqib Aziz Mathew Hughes 《Business Strategy and the Environment》2020,29(5):2001-2018
Researchers have widely studied the nexus between corporate environmental (“green”) policy and its green performance and firm financial performance, but with mixed findings. A potential explanation for these mixed findings is the focus of extant studies on the direct and immediate impact of environmental performance on financial performance to the exclusion of firm‐specific boundary conditions. Furthermore, all prior research study the effect of environmental performance on either stock market‐based performance measures (i.e., stock return) or accounting‐based performance measures (i.e., return on assets). A missing third dimension of firm performance, product–market‐based performance (i.e., market share), has so far remained unexplored despite representing a crucial objective when innovating. Using Newsweek's annual green ranking as a novel measure of environmental performance for a panel of U.S. firms from 2010 to 2015, this paper attempts to fill these voids in the literature. The results show a positive relationship between firms' environmental performance and market share as a measure of product–market‐based performance. The findings further demonstrate that this relationship is positively moderated by the level of customer awareness and innovativeness of the firm: The higher the level of awareness of a firm's environmental credentials and innovativeness, the stronger the effects of environmental performance on market share. Our results are robust against endogeneity concerns and alternative measures of firm financial and environmental performance. 相似文献
15.
Mônica Cavalcanti Sá de Abreu 《Business Strategy and the Environment》2009,18(8):542-556
Continual efforts to work with government and society are crucial to persuade businesses to become even better engaged in sustainability practices in developing countries. This study rebuilds the SCP (structure–conduct–performance) paradigm to incorporate environmental variables and to address the environmental strategy choices. Grounded theory was adopted in a systematic collection of data in petrochemical, textile and beverage companies established in different Brazilian states. In‐depth personal interview, site visit and documentary evidence were coded and analysed. The empirical results demonstrate that environmental regulation and enforcement, environmental risk and demands from stakeholders play a central role in increasing the corporate commitment to the natural environment. The study defines four strategic generic types of organization, termed variously as sleeper, reactor, defender and innovator, owing to their solutions to environmental issues. This typology contributes as a roadmap for business decision makers to choose the appropriate environmental strategy in a global economy. Copyright © 2008 John Wiley & Sons, Ltd and ERP Environment. 相似文献
16.
Stefan Lewandowski 《Business Strategy and the Environment》2017,26(8):1196-1211
This article uses econometric techniques to examine the effect of corporate carbon performance on corporate financial performance. I extend the existing literature in this research field by differentiating between two measurement perspectives: carbon performance expressed as annually reported carbon dioxide (CO2) emission equivalents and improvements in carbon performance over time. Thereby, the article re‐addresses the research question ‘when and how does it pay to be green?’ in the context of carbon emissions and climate change mitigation. Using a nonlinear modeling technique, the findings indicate that it pays to be green for companies with superior carbon performance but not for companies with inferior carbon performance. The results also show that carbon emission mitigation is linearly and significantly positive related to return on sales (ROS) but negatively related to Tobin's q . These contradictory findings help us to understand why – in spite of growing regulatory pressure – companies have been slow to respond with effective action to tackle climate change beyond marginal efficiency improvements that correspond to ‘low‐hanging fruits’. The empirical analysis is based on an unbalanced sample of 7625 firm‐year observations covering carbon emission data (Scope 1 and Scope 2) for 1640 international firms from 2003 to 2015. Copyright © 2017 John Wiley & Sons, Ltd and ERP Environment 相似文献
17.
Although green supply chain integration (GSCI) has received wide attention, how it diffuses among supply chain members to affect the manufacturer's performance is still unclear. This study examines the relationships among GSCI, information sharing, and financial performance from a social contagion lens. By conceptualizing GSCI into three forms, two types of contagion mechanisms (i.e., cohesion and structural equivalence) were identified to investigate the underlying contagion effects between different forms of GSCI and the effects of various GSCI on information sharing and financial performance. Survey data were collected from 206 Chinese manufacturers and analyzed using structural equation modeling to test hypotheses. The results indicate that green supplier integration directly promotes green internal integration, green customer integration, and information sharing with suppliers. Green internal integration positively influences green customer integration and financial performance. Green customer integration enhances information sharing with customers. Both information sharing with suppliers and customers improve financial performance. This study contributes to the GSCI literature and provides novel managerial implications for manufacturers. 相似文献
18.
作为重要的命令控制型环境规制工具,新《环保法》实施对企业经营产生了广泛的影响。以2010—2020年我国A股上市公司为样本,利用新《环保法》这一外生冲击事件,采用双重差分模型检验环境规制对企业税收规避的影响。结果表明,环境规制趋严促使企业提高税收规避程度。机制检验表明,环境规制导致企业融资约束程度和经营风险增加。进一步分析发现,环境规制与税收规避的正相关关系主要存在于融资难度较高和经营压力较大的企业,新《环保法》实施情境下的企业避税行为提升了财务业绩和企业价值。研究结论提供了微观企业如何应对宏观环境规制的经验证据,为政府部门结合税收政策优化环境政策提供了参考。 相似文献
19.
Kazumi Endo 《Business Strategy and the Environment》2020,29(4):1625-1633
Although corporate environmental performance (CEP) is determined by corporate governance (CG) typified by board and ownership structures, in‐depth research on stakeholder‐oriented CG is sparse. This study seeks to fill this void and promote an alternative vision of good governance. Japanese corporations have often been criticized for their stakeholder‐oriented practices such as less independent boards and the dominance of stable domestic shareholders. However, these practices are not necessarily problematic if effective monitoring mechanisms are in place. Using a database of Japanese listed corporations over 2012–2015, this study shows that both board size and composition enhance CEP, confirming the advisory function of boards. Contrastingly, foreign blockholders, who are expected to play a monitoring role, significantly constrain CEP. Japanese corporations are evolving toward a hybrid CG that aims to narrow the shareholder–stakeholder divide, and the findings will offer useful lessons for the modification of shareholder‐oriented CG. 相似文献
20.
Maria del Mar Miralles‐Quiros Jose Luis Miralles‐Quiros Irene Guia Arraiano 《Business Strategy and the Environment》2017,26(7):1014-1028
Sustainable development is nowadays a high priority for firms all over the world. Consequently, numerous firms have increased their social responsibility initiatives, reinforcing the credibility and trust of their stakeholders. However, prior research about the relevance of sustainability leadership for the European investment community is scarce. In this context, the aim of this study is to examine whether sustainability leadership – proxied by membership of the Dow Jones Sustainability Index Europe – is value relevant for investors on the 10 major European stock markets over the 2001–2013 period. Our overall results reveal that there exist significant differences across markets. These findings are relevant especially for investors, but also for the managers of listed firms, market regulators and policymakers. Copyright © 2017 John Wiley & Sons, Ltd and ERP Environment 相似文献