How do shareholders influence international firms’ environmental strategies? The differential impact of strategic and financial investors

Bueno-García, Manuel; Delgado‐Márquez, Blanca L.; Georgallis, Panikos; Aragón‐Correa, J. Alberto

doi:10.1016/j.lrp.2022.102183

Cited by 15 publications

(12 citation statements)

References 94 publications

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“…Many studies have explored the influencing factors of environmental performance (Abubakr et al, 2023;Pia et al, 2023;de la Fuente et al, 2022;Bueno-Garcia et al, 2022;Caroline et al, 2019).…”

Section: Mechanism Of Digital Transformation 3137mentioning

confidence: 99%

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Research on the mechanism of digital transformation to improve enterprise environmental performance

Xie,

Zhang,

Zhao

2023

IMDS

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PurposeBased on the background of enterprise digital transformation, this paper aims to examine the impact of digitization on the cooperative behavior and environmental performance of green technology innovation.Design/methodology/approachBy constructing a model of quantity competition between the two enterprises, this paper examines the impact of digitization on the cooperative behavior and environmental performance of green technology innovation from the micro level. It uses Shanghai and Shenzhen A-share-listed companies as research samples. An unbalanced panel data set from 2011 to 2018 was constructed to empirically test the effect of digital transformation on the environmental performance of enterprises.FindingsThe findings reveal the following. First, digital transformation can significantly improve the environmental performance of enterprises. Second, green technological innovation sharing plays an intermediary role between digital transformation and enterprise environmental performance. Third, when the level of digitization is high, the sharing effect of green technology innovation brought about by digital technology is stronger and enterprises tend to carry out cooperative green technology innovation. Lastly, the level of development of regional science and technology finance plays a positive regulatory role in digital transformation and enterprise environmental performance.Originality/valueThis paper first proposes that green technology innovation-sharing is an important mechanism that can significantly improve enterprises' environmental performance. The authors empirically examine the mechanism and analyze the heterogeneity of the impact of digitalization level on enterprises' environmental performance. The authors also discuss the moderating effect of regional technology and finance development levels on the relationship between digitalization and enterprises' environmental performance.

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Section: Mechanism Of Digital Transformation 3137mentioning

confidence: 99%

“…Many studies have explored the influencing factors of environmental performance (Abubakr et al ., 2023; Pia et al ., 2023; de la Fuente et al ., 2022; Bueno-Garcia et al ., 2022; Caroline et al ., 2019). Among them, some researchers have studied the impact of digitization on environmental performance.…”

Section: Introductionmentioning

confidence: 99%

Research on the mechanism of digital transformation to improve enterprise environmental performance

Xie,

Zhang,

Zhao

2023

IMDS

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“…Ha a vállalat tulajdonosi szerkezetében nagyobb a stratégiai befektetők aránya, akkor erősebbnek mutatkozik a vállalat környezetvédelmi proaktivitása. Pénzügyi befektetők túlsúlya esetén ez csak akkor mutatható ki, ha nagy a vállalat külpiaci kitettsége (Bueno-García et al, 2022).…”

Section: Osztalékpolitika Csr éS Fenntarthatóságunclassified

A fenntarthatóság és az osztalékpolitika kapcsolata

Kucséber¹,

Csoma²

2023

Társadalom – Gazdaság – Természet: Szinergiák a Fenntartható Fejlődésben (Konferenciakötet)

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A kutatásunk fókuszában amerikai multinacionális technológiai cégek osztalékfizetési politikáinak elemzése áll. Vizsgálatunk első része egy ESG szempontú elemzés, amely alapján a vizsgált cégeket besoroljuk „fenntarthatóan“ és „nem-fenntarthatóan működő“ csoportokba. A cikk második részében a vizsgált cégek által közölt befektetői információk és a pénzügyi adatok alapján elemezzük a két létrehozott csoport osztalékfizetési politikáit, valamint kiterjesztjük vizsgálatunkat az elmúlt években megvalósult és a tervezett környezetvédelmi beruházások helyzetére.

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“…On the one hand, strategic shareholders may positively influence environmental improvements due to their greater familiarity with the supply chain operations of the firm, a fact which is intensified in more international firms (Bueno-García et al, 2022). Foreign shareholders may also drive new environmental strategies as they have a better understanding of the different environmental requirements of more international spheres (Bueno-Garcia et al, 2021;Ellimäki et al, 2023).…”

Section: Firm's Internationalization: State Ownership Influence Withi...mentioning

confidence: 99%

“…and the firm shareholders score, defined as a "shareholders category which measures a company's effectiveness towards equal treatment of shareholders and the use of anti-takeover devices" (Thomson Reuters ESG Scores, 2019, p. 22). We included these indices as excellent proxies of good governance practices in line with previous studies in the management literature (Baraibar-Diez et al, 2019;Bueno-Garcia et al, 2021;Bueno-García et al, 2022;Duque-Grisales & Aguilera-Caracuel, 2021;Zampone et al, 2023). Finally, we included regional dummies to control whether the firm is operating in greater or fewer numbers of international regions abroad, as well as adding year dummies to control for temporal effects in our panel data.…”

Section: Controlsmentioning

confidence: 99%

The influence of state ownership on environmental proactivity: An institutional perspective of international firms

Bueno‐García,

Ahmadova

2023

Corp Soc Responsibility Env

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The influence of state ownership on a firm's environmental strategy is still unclear due to the varied relationships across different international institutional contexts in the firm's home and host country. Applying mixed effect regression models to a sample of 2997 observations of 298 firms from the MSCI World Index for the period 2007–2018, this paper analyzes the different effects of key institutional factors on this relationship. While a state‐owned firm from a state with a high home country environmental profile will have a more positive effect on a firm's environmental proactivity, internationalization will weaken it, since the firm will encounter higher complexity when translating its green actions into a more global institutional context. In addition, when internationalization involves a very different host country environmental profile, the greater institutional distance seems to modify the influence of state ownership on environmental proactivity. Our results provide key theoretical and practical implications for managers in relation to state‐owned firms' global environmental strategies.

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How do shareholders influence international firms’ environmental strategies? The differential impact of strategic and financial investors

Cited by 15 publications

References 94 publications

Research on the mechanism of digital transformation to improve enterprise environmental performance

Research on the mechanism of digital transformation to improve enterprise environmental performance

A fenntarthatóság és az osztalékpolitika kapcsolata

The influence of state ownership on environmental proactivity: An institutional perspective of international firms

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