Symbolic reactions or substantive pro‐environmental behaviour? An empirical study of corporate environmental performance under the government's environmental subsidy scheme

Ren, Shenggang; He, Duojun; Zhang, Tao; Chen, Xiaohong

doi:10.1002/bse.2308

Cited by 83 publications

(63 citation statements)

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“…For example, Ilinitch et al () argue that the process dimension reflecting structural and systemic characteristics of a company is useful for its internal tracking and to some stakeholders such as employees, consumers, and shareholders; wheras the outcome dimension reflecting quantifiable results achieved by the company could be more attractive to bankers and investors. Following Ilinitch et al (), more recent studies have adopted and developed multidimensional CEP frameworks (e.g., Xie and Hyase, 2007; Bhattacharyya & Cummings, ; Misani & Pogutz, ; Escrig‐Olmedo, Muñoz‐Torres, Fernández‐Izquierdo, & Rivera‐Lirio, ; Ren et al, ), which indicates a certain degree of consensus on the process‐ and outcome‐based multidimensional nature of CEP.…”

Section: Uk Environmental Policies and Multidimensional Construct Omentioning

confidence: 99%

“…For example, Ilinitch et al (1998) dimension reflecting quantifiable results achieved by the company could be more attractive to bankers and investors. Following Ilinitch et al (1998), more recent studies have adopted and developed multidimensional CEP frameworks (e.g., Xie and Hyase, 2007;Bhattacharyya & Cummings, 2015;Misani & Pogutz, 2015;Escrig-Olmedo, Muñoz-Torres, Fernández-Izquierdo, & Rivera-Lirio, 2017;Ren et al, 2019), which indicates a certain degree of consensus on the process-and outcome-based multidimensional nature of CEP.…”

Section: Uk Environmental Policies and Multidimensional Constructmentioning

confidence: 99%

“…Despite a consensus on the multidimensional nature of CEP, few studies on CEP have taken this into account. Based on the investigation of environmental standards and policies in different countries, recent studies on environmental performance evaluation infer a multidimensional construct of CEP as environmental management performance (EMP) and environmental operational performance (EOP) (Busch & Hoffmann, ; Hartmann & Vachon, ; Ren et al, ; Trumpp et al, ; Xie & Hayase, ). The EMP dimension focuses on process‐based environmental performance, such as environmental policies, strategies, objectives, processes, and monitoring.…”

Section: Introductionmentioning

confidence: 99%

“…In the past decades, CEP has attracted considerable interest from not only policy makers but also researchers (e.g., Dobler, Lajili, & Zéghal, 2014;Elmagrhi, Ntim, Elamer, & Zhang, 2019;Horvathova, 2012;Ren, He, Zhang, & Chen, 2019;Shahab, Ntim, Chengang, Ullah, & Fosu, 2018;Trumpp, Endrikat, Zopf, & Guenther, 2015;Trumpp & Guenther, 2017). A great number of studies have focused on examining the association between CEP and corporate financial performance (CFP).…”

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Corporate environmental performance, environmental management and firm risk

Xue

Zhang

2019

Bus Strat Env

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Using a sample of 1,632 U.K. firm‐year observations from 2002 to 2013, this paper investigates the impact of multidimensional corporate environmental performance (CEP) on firm risk. Considering two dimensions of CEP, namely environmental management performance (EMP) and environmental operational performance (EOP), we find that EMP serves as an effective mechanism in reducing firm risk, and such an effect is mainly driven by the manufacturing sector. Meanwhile, there is no clear association between EOP and firm risk. However, our findings highlight a moderating effect of EOP on the relationship between negative EMP and firm risk. This provides new insights into the value of multidimensional CEP and suggests that the complex relationship between outcome‐ and process‐based environmental performance is important for understanding the real effects of CEP on firm risk. Our results have important implications for managerial decision‐making in strategy and risk management, as well as for policymaking in environmental regulation.

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Section: Uk Environmental Policies and Multidimensional Construct Omentioning

confidence: 99%

Section: Uk Environmental Policies and Multidimensional Constructmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

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confidence: 99%

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Corporate environmental performance, environmental management and firm risk

Xue

Zhang

2019

Bus Strat Env

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“…The panel data model from 2012 to 2017 was selected in this paper to eliminate the sequence correlation and heteroscedasticity problems that are common when using cross‐sectional data or time‐series data and to avoid endogenous problems caused by missing variables that can effectively reduce the bias of the empirical results (Ren, He, Zhang, & Chen, ; Zeng et al, ).…”

Section: Methodsmentioning

confidence: 99%

Carbon risk management and corporate competitive advantages: “Differential promotion” or “cost hindrance”?

et al. 2020

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Given the strengthening of carbon regulations and the launch of emission trading scheme in China, companies are facing tremendous pressure to reduce carbon emissions, suggesting the necessity of understanding whether carbon risk management may affect corporate financial benefits. Therefore, this paper empirically demonstrates the influence of carbon risk management on corporate competitive advantages. We find that the relationship between carbon risk management and corporate competitive advantages is a "kuznets curve" that exists only among firms with weak product competition. And this relationship tends to be weakened in firms with a distant administrative hierarchy. We conclude that the influence of low carbon management on corporate competitive advantages is complicated and subject to the firm's political relevance. K E Y W O R D S administrative hierarchical distance, carbon risk management, competitive advantages, resource-based view, sustainable development

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Monitoring effect of transparency: How does government environmental disclosure facilitate corporate environmentalism?

et al. 2019

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Environmental information transparency is a key policy instrument in environmental governance, which has been emphasized in most of the literature. Although a large body of research has focused on its role at the national or industrial level in the developed countries, few studies have extended it to emerging economies and tested its role in the subnational context. In this paper, we have empirically examined how government environmental disclosure shapes corporate environmentalism in the context of China. It is argued that the information transparency of government environmental disclosure can promote corporate environmentalism by providing supports for governments' decision‐making of environmental governance, the activeness of environmental nongovernment organizations, and the participation of general public in environmental issues. Especially, we have highlighted two kinds of influences on focal relationship: booster role of bureaucratic capability in the diffusion of environmental institutional pressure and receiver role of organization slack and industrial competition in the perception of environmental institutional pressure. Using a panel dataset of Chinese publicly listed firms from 2008 to 2015, a positive relationship between government's environmental information transparency and corporate environmentalism is found. In addition, our result has shown that this relationship will be stronger for regions where government bureaucracy capabilities are stronger. This study contributes to understanding of the process of firms' strategic choice facing environmental and institutional changes in emerging economies.

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Symbolic reactions or substantive pro‐environmental behaviour? An empirical study of corporate environmental performance under the government's environmental subsidy scheme

Cited by 83 publications

References 84 publications

Corporate environmental performance, environmental management and firm risk

Corporate environmental performance, environmental management and firm risk

Carbon risk management and corporate competitive advantages: “Differential promotion” or “cost hindrance”?

Monitoring effect of transparency: How does government environmental disclosure facilitate corporate environmentalism?

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