Environmental claims and executive compensation plans: Is there a link? An empirical investigation of Italian listed companies

Ratti, Sara; Arena, Marika; Azzone, Giovanni; Dell'Agostino, Laura

doi:10.1016/j.jclepro.2023.138434

Journal of Cleaner Production

2023

DOI: 10.1016/j.jclepro.2023.138434

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Environmental claims and executive compensation plans: Is there a link? An empirical investigation of Italian listed companies

Sara Ratti

Marika Arena

Giovanni Azzone

et al.

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2024

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Cited by 6 publications

References 44 publications

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Executive Green Cognition on Corporate Greenwashing Behavior: Evidence From A‐Share Listed Companies in China

Hao,

Miao,

Wen

et al. 2024

Bus Strat Env

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Greenwashing has become a strategy for companies to comply with environmental regulations, while also projecting an eco‐friendly image. This study examined how executives' green cognition affected the corporate greenwashing using both fixed effect and moderated mediation models. The findings indicated that the executives' green cognition significantly reduced the greenwashing behavior, whereas its effectiveness decreased with the increasing financial constraints. Additionally, the executives' green cognition helped mitigate the greenwashing by promoting innovation in green management, while this effect was limited by financial constraints. Furthermore, in highly competitive industries and with substantial ownership stakes among senior executives, the impact of green cognition on greenwashing was constrained. However, when the roles of the chairman and general manager were separate, senior executives' green cognition effectively avoided the greenwashing. Moreover, after the COVID‐19 pandemic, the inhibitory effect of executives' green cognition on greenwashing became more pronounced. This study could offer valuable insights into reducing corporate greenwashing and enhancing environmental credibility.

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Executive Green Cognition on Corporate Greenwashing Behavior: Evidence From A‐Share Listed Companies in China

Hao,

Miao,

Wen

et al. 2024

Bus Strat Env

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Archival research on sustainability‐related executive compensation. A literature review of the status quo and future improvements

Velte

2024

Corp Soc Responsibility Env

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This literature review summarizes previous quantitative archival research on sustainability‐related executive compensation (SREC) as the overarching research method in this field. Based on stakeholder agency theory, we included 66 peer‐reviewed studies on the determinants (governance, financial, and sustainability drivers) and consequences of SREC on firm value (financial and sustainability consequences). Regarding SREC, we differentiated between the Chief Executive Officer (CEO) and the total executive level. Although we note a lower attraction of SREC research on possible determinants, there are clear indications that SREC has a positive effect on sustainability performance. In contrast to the business case argument for sustainability, this is not true for financial performance. We find major limitations and research gaps in previous studies that should be recognized in future studies (e.g., differentiation between symbolic and substantive use of SREC). Our results are mainly important for researchers, business practice and regulatory bodies.

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Strategic mapping of the environmental social governance landscape in finance – A bibliometric exploration through concepts and themes

Thomas,

Jayachandran,

Biju

2024

Corp Soc Responsibility Env

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A substantial surge in ESG research has triggered a wide dissemination of research across various domains, underscoring the need for an extensive appraisal of the complex ESG landscape. This paper is grounded on a sample of 441 documents retrieved from the Web of Science database, spanning from 2007 to 2023. A strategic mapping was performed to decipher the cumulative scientific knowledge by delving into the interrelations among various facets and identifying the field's basic, motor, niche, and emerging themes. We also explore the thematic evolution of ESG across distinct time frames, indicating ESG's inception, evolution, and diversification over the years. Our findings contribute to the ESG literature by categorizing it into seven clusters across the four quadrants. Results of the strategic mapping accentuate the obsolete, over‐researched and promising areas of ESG research. We find research on CSR, socially responsible investments and ESG‐firm performance themes as over‐researched areas calling for diversification. Promising research areas include the emerging association of ESG with portfolio construction, green innovations and investments, ESG controversies, information asymmetry, divergence, greenwashing, AI‐enabled universal rating mechanism, up‐grading and down‐grading of ESG scores and ESG‐linked compensations. Thematic evolution of ESG research underpins the culmination of its interplay with sustainability, emerging markets, board diversity, and green financing. Finally, the factorial analysis strengthens the reliability of the main findings, making it robust. This paper stands as the initial venture providing a comprehensive exploration of conceptual linkages, shifts, and advancements within the ESG literature through thematic mapping, offering an original contribution to the field.

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Environmental claims and executive compensation plans: Is there a link? An empirical investigation of Italian listed companies

Cited by 6 publications

References 44 publications

Executive Green Cognition on Corporate Greenwashing Behavior: Evidence From A‐Share Listed Companies in China

Executive Green Cognition on Corporate Greenwashing Behavior: Evidence From A‐Share Listed Companies in China

Archival research on sustainability‐related executive compensation. A literature review of the status quo and future improvements

Strategic mapping of the environmental social governance landscape in finance – A bibliometric exploration through concepts and themes

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