CSR and green economy: Determinants and correlation of firms’ sustainable development

Marco-Fondevila, Miguel; Abadía, José Mariano Moneva; Scarpellini, Sabina

doi:10.1002/csr.1492

Cited by 49 publications

(36 citation statements)

References 113 publications

(148 reference statements)

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“…In particular, these achievements represent a contribution to the CE research community and support and enhance the conclusions reached by Stewart and Niero (2018). It should be noted that the level of accountability of the surveyed forms is higher when their CS increases, in line with the results obtained for eco-innovation (Marco et al, 2019) and other green sectors (Marco-Fondevila et al, 2018).…”

Section: Discussionsupporting

confidence: 79%

Dynamic capabilities and environmental accounting for the circular economy in businesses

Scarpellini¹,

Marín-Vinuesa²,

Aranda‐Usón³

et al. 2020

SAMPJ

Self Cite

167

124

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Purpose This paper aims to define and measure the environmental capabilities that are applied when the circular economy (CE) is introduced in businesses. Founded on the dynamic capabilities theoretical approach, the study analyzes different environmental competences that firms apply during this process. Environmental management systems, corporate social responsibility, reporting and accountability and other environmental accounting practices are studied in the same analytical framework used to study the environmental capabilities that influence the circular scope (CS) of firms. This study contributes to bridging the gap between academic research focused on environmental accounting and that investigating the introduction of the CE in businesses. Design/methodology/approach The results were obtained by using partial least squares structural equation modeling to analyze the relationship between environmental capabilities for the CE and the CS achieved by a sample of Spanish firms with more than 50 employees that expressed interest in the CE, eco-design, eco-innovation and other environmental issues. Findings Based on an analysis using the dynamic capabilities theoretical approach, the results suggest a positive relationship between the CS of firms, their environmental accounting practices and their level of corporate social responsibility (CSR) and accountability. Stakeholders’ pressure – which has a mediating effect on the CS of firms – is also analyzed, adding new insights to recent studies of this topic at the micro-level. The authors also explore whether the CS of businesses, which is related to the degree of their development of capabilities, influences environmental and financial performance. Practical implications The new insights obtained in this study can help overcome the limitations of conventional accounting approaches and incorporates a much broader scale of environmental information that can be applied to CE practices. These results also offer insights to practitioners regarding the internal measurement processes related to the CE and regarding CSR in particular for small and medium enterprises, because these metrics can be partially applied depending on the practices introduced in each firm. For policymakers, a better understanding of the CE’s introduction into businesses will contribute to the design of policies that can enhance its deployment, for example, by providing tools that set up regional priorities depending on the CE-related practices adopted by the firms located in the territory. Social implications A CE involves the transformation of a linear economic model into a circular one to reduce dependence on raw materials and energy and to reduce the environmental impact of production and consumption. Understanding how to manage the specific competences that integrate capabilities applied to the CE will allow firms to improve their social and environmental reporting. In addition, other social implications of this study relate to improving relationships with consumers and stakeholders and to the practice of social corporate sustainability. Originality/value This study goes beyond previous research on the CE to extend the authors’ knowledge about its adoption at the micro-level by taking a transversal approach, as its subject spans the fields of environmental accounting and the CE while addressing both in a framework of analysis. The analysis of the accounting concerns of the CE in businesses and the study of concerns related to endogenous environmental competences are quite original under the theoretical framework of dynamic capabilities, and this study is a first step in an incipient line of inquiry.

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Section: Discussionsupporting

confidence: 79%

Dynamic capabilities and environmental accounting for the circular economy in businesses

Scarpellini¹,

Marín-Vinuesa²,

Aranda‐Usón³

et al. 2020

SAMPJ

Self Cite

167

124

View full text Add to dashboard Cite

show abstract

“…The paper focuses on the recycling business, a part of the green industry (Ali et al, 2017;Marco-Fondevila et al, 2018). To investigate this, we analyze the economic processes within each organization to investigate operation rules, or business administration, with the aim of identifying the general rules of the business.…”

Section: Definition Of Green Businessesmentioning

confidence: 99%

“…Institutional shareholders must therefore be particularly careful about the performance of recycling organizations (Hood, James, Scott, Jones, & Travers, 1999), as governance affects good performance. The above discussion can be summarized in the following hypothesis: CSR refers to a company's performance in relation to a range of social and environmental issues over time (Ali et al, 2017;Briscoe & Safford, 2008;Marco-Fondevila et al, 2018). The social and environmental aspects are therefore linked in CSR, and they should be integrated with business management (Wagner, 2007).…”

Section: Hypotheses Developmentmentioning

confidence: 99%

“…This is why environmental issues, corporate social responsibility (CSR), and similar topics are studied in the literature (Ali, Frynas, & Mahmood, 2017;Marco-Fondevila, Moneva Abadía, & Scarpellini, 2018;Wagner, 2011). This is why environmental issues, corporate social responsibility (CSR), and similar topics are studied in the literature (Ali, Frynas, & Mahmood, 2017;Marco-Fondevila, Moneva Abadía, & Scarpellini, 2018;Wagner, 2011).…”

Section: Introductionmentioning

confidence: 99%

“…Human activity, however, whether in exploiting natural resources or in causing accidents, has altered this natural equilibrium and has irremediably damaged the environment. This is why environmental issues, corporate social responsibility (CSR), and similar topics are studied in the literature (Ali, Frynas, & Mahmood, 2017;Marco-Fondevila, Moneva Abadía, & Scarpellini, 2018;Wagner, 2011). To the best of our knowledge, researchers have found substantial evidence of the importance of the green economy, but less within the discipline of business administration.…”

Section: Introductionmentioning

confidence: 99%

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This study aims to shed light on the elements that can influence the performance of green businesses, more specifically organizations active within the recycling business.After defining and identifying green businesses, the paper focuses on the Italian recycling business, examining whether the green practices and features of a green business can influence the organization's performance. Using a quantitative methodology with a sample of 87 Italian organizations whose core business is recycling and applying a model of multiple linear regression, the findings highlight several variables that affect the economic results. The originality of this study lies in the link between green practices and green businesses, exploring which structures are efficient and are driving elements of these recycling organizations. These findings offer several contributions to theory and practice and for policymakers.

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Biodiversity loss is considered as a critical global challenge with significant implications for ecosystems, economies, and societies. While the importance of biodiversity conservation is widely acknowledged, the extent to which biodiversity risk impacts firm performance remains an under‐explored area of research. This paper examines how biodiversity risk affects firm performance using a new measure of firm‐level biodiversity risk generated from textual analysis of firms' 10‐K reports. Our multivariate analysis shows that biodiversity risk significantly hinders performance of firms in the United States during the 2001–2021 period. The finding holds well after controlling various confounding factors, using alternative variable measurements, model specifications, and correcting for endogeneity problems in the biodiversity risk‐firm performance nexus. Besides decreasing sales growth and profitability, biodiversity risk increases in the cost of goods sold, as explained by the Cobb–Douglas production function. Interestingly, we find that the effect is stronger for firms in biodiversity‐sensitive industries, weaker for firms with more product innovation, and remains insignificant for firms with top‐tier performance. Our study provides policy and practical implications for businesses to mitigate biodiversity risk in this contemporary era of ecological degradation.

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CSR and green economy: Determinants and correlation of firms’ sustainable development

Cited by 49 publications

References 113 publications

Dynamic capabilities and environmental accounting for the circular economy in businesses

Dynamic capabilities and environmental accounting for the circular economy in businesses

Assessing the determinants of performance in the recycling business: Evidence from the Italian context

Biodiversity risk and firm performance: Evidence from US firms

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