Shareholders' environmental profile and its impact on firm's environmental proactivity: An institutional approach

Bueno-García, Manuel; Ortiz-Perez, Alejandro; Mellado‐Garcia, Elena

doi:10.1002/bse.2626

Cited by 22 publications

(34 citation statements)

References 91 publications

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“…Many internal and external factors also affect CEP. With reference to related studies, this study controls the factors from the following four main aspects (Bueno‐Garcia et al., 2021; Calza et al., 2016; Gonzalezbenito & Gonzalezbenito, 2006).…”

Section: Methodsmentioning

confidence: 99%

Analysis of the impact mechanism of environmental regulations on corporate environmental proactivity—based on the perspective of political connections

2022

Business Ethics Env & Resp

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Previous studies have demonstrated the favorable effects of political connections on corporate environmental proactivity (CEP). However, few studies have further verified whether this is definitively the case under environmental regulations and their underlying reasons, which would help elucidate the performance and motivation of politically connected firms’ (PCFs’) environmental proactivity. Using data from Chinese A‐shares‐listed industrial firms from 2010 to 2016, we find that environmental regulations can significantly improve CEP. Compared with non‐politically connected firms (NPCFs), PCFs are more responsive to environmental regulations. Counterfactual analysis based on corporate resource conditions suggests that firms that are more supported by government in debt financing and show higher environmental proactivity are only found in PCF samples. In order to maintain this political relationship and continuously obtain debt financing support, PCFs tend to “bind” their business decisions to the government’s environmental governance objectives and display higher environmental proactivity. In summary, PCFs’ environmental proactivity involves self‐interest decisions based on their resource conditions.

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Section: Methodsmentioning

confidence: 99%

Analysis of the impact mechanism of environmental regulations on corporate environmental proactivity—based on the perspective of political connections

2022

Business Ethics Env & Resp

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“…Firm size is the natural logarithm of total assets (García‐Sánchez, Martín‐Moreno, et al, 2021; Ren et al, 2021). ROA is net income divided by total assets (Bueno‐Garcia et al, 2021; Gerged et al, 2021; Ren et al, 2021). Free cash flow is cash flow from operating activities divided by total assets (Kong et al, 2020; Lewandowski, 2017; Trumpp & Guenther, 2017).…”

Section: Methodsmentioning

confidence: 99%

Board interlocks, absorptive capacity, and environmental performance

Jing

Mahmoudian

et al. 2021

Bus Strat Env

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Coupling resource dependence theory with absorptive capacity concepts, we analyze the role absorptive capacity plays as a potential facilitator between board interlocks and environmental performance. Board interlocks act as avenues for knowledge and information that exist outside the organization to become resources to improve environmental performance. However, an organization also needs the ability to utilize knowledge to implement activities that lead to better environmental performance. Our results show that firms with a diversity of interlocks (greater number of board interlocks, interlocks in the same and different industries, and interlocks with top performers) achieve better environmental performance. Furthermore, we find that absorptive capacity, as measured by research and development (R&D) intensity, moderates the relationship between board interlocks and environmental performance.

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“…(e.g., Bueno-Garcia et al, 2021;Madsen & Ulhøi, 2001). Similarly, studies examining the effect of institutional investors' environmental pressure on CES suggested a positive effect due to firms' dependency on investors.…”

Section: Owner's Powermentioning

confidence: 99%

The effect of corporate governance on corporate environmental sustainability: A multilevel review and research agenda

et al. 2022

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Climate change is a major challenge facing society. Given its intricate links with business, governance scholars have shown an increasing interest in understanding how corporate governance (CG) actors can improve corporate environmental sustainability (CES). In this article, we review the literature focusing on CG and CES. We assess the importance of the motivations, expertise, and power of CG actors at different levels (individual, team, firm, and supra‐firm) for CES. Using this as a guiding framework, we build a multilevel synthesis highlighting the theoretical mechanisms around motivations, expertise, and power suggested in the literature. Based on this synthesis, we present critical reflections on the extant knowledge. Finally, we develop a future research agenda that calls for research at single levels, but also for integrative research examining how CG actors at multiple levels collectively shape CES.

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Shareholders' environmental profile and its impact on firm's environmental proactivity: An institutional approach

Cited by 22 publications

References 91 publications

Analysis of the impact mechanism of environmental regulations on corporate environmental proactivity—based on the perspective of political connections

Analysis of the impact mechanism of environmental regulations on corporate environmental proactivity—based on the perspective of political connections

Board interlocks, absorptive capacity, and environmental performance

The effect of corporate governance on corporate environmental sustainability: A multilevel review and research agenda

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