Corporate environmental performance

2015 ◽  
Vol 1 (1) ◽  
pp. 131-194 ◽  
Author(s):  
Claudia Zopf ◽  
Edeltraud Guenther
Keyword(s):  
Empirical Research ◽  
Environmental Performance ◽  
Empirical Studies ◽  
Empirical Work ◽  
Pollution Prevention ◽  
Corporate Environmental Performance ◽  
Specific Context ◽  
Content Type ◽  
Theoretical Approaches ◽  
The Matrix

Purpose – The concept of corporate environmental performance (CEP) is both used in and discussed with respect to international and regional standards, scientific work and business. Yet, there is no concensus on the meaning of the concept itself and on what elements or components it comprises. Moreover, although there is a discussion on interactions between the different levels of CEP, there is a lack of detailed and rigorous analysis. This paper merges the various insights on CEP and its underlying dimensions and addresses existing interactions between strategic and operational CEP. The interactions can be explained by two organizational theories prevailing in empirical studies namely institutional theory (IT) and the natural resource-based view (NRBV). The purpose of this paper is to synthesize the two theories to explain the different interactions. Design/methodology/approach – First, recent papers that summarized research on the concept of CEP and its existing dimensions are reviewed yielding strategic and operational dimensions of CEP. Second, IT and the NRBV are analyzed in terms of how they are applied to CEP. The results are presented in a matrix which shows the interplay of CEP within its external pressures and strategic capabilities. Third, 37 empirical studies were analyzed by applying the method of an integrative research review. The review synthesized the theoretical approaches of the studies in their specific context, summarized their findings and categorized them into the theoretical arguments on which they are based. Findings – Most studies are conducted on the pollution prevention level with different forms of institutional mechanisms. The studies are diversified and most positive results are found on that level. The studies analyzed differ widely in their methodological approaches, the measures applied and the theory on which they are based on, which may explain why the results were very heterogeneous. Practical implications – The authors results should help environmental researchers understand how both dimensions are connected to each other and reveal that a combination of theories is essential when empirically investigating interactions within the construct of CEP. Moreover, the authors show that empirical research on CEP is imbalanced as too much studies concentrate on simple compliance measures for CEP. The authors contribute to the literature by summarizing important empirical work on CEP, classifying them into the matrix of IT and NRBV and showing neglected dimensions of CEP, namely higher strategic integration of environmental aspects into CEP measurements. Originality/value – The present paper should be of particular interest to researchers investigating CEP both in theory and in terms of practical empirical analysis, as the authors show that both external and internal factors must be considered simultaneously in any evaluation. This may lead to far greater efforts in gathering information and data for future empirical research, but it is essential to do so, in order to obtain sufficient and reliable results that account adequately for the complex nature of CEP. Researchers should especially consider the matrix of IT and NRBV before commencing an empirical investigation, by locating their study in one of the fields of the matrix. This can support the choice of appropriate measurement indicators for the specific context and help focus on important external and internal items.

Empirical analysis on corporate environmental performance and environmental disclosure in an emerging market context

2020 ◽  
Vol 15 (6) ◽  
pp. 1061-1082 ◽  
Author(s):  
Merve Acar ◽  
Hüseyin Temiz
Keyword(s):  
Environmental Performance ◽  
Emerging Market ◽  
Positive Association ◽  
Corporate Environmental Performance ◽  
Tobit Regression ◽  
Environmental Reporting ◽  
Environmental Disclosure ◽  
Significant Positive Association ◽  
Content Type ◽  
Environmental Disclosures

PurposeThe purpose of this study is to investigate the association between environmental performance of firms and the level of voluntary environmental disclosure in emerging markets.Design/methodology/approachWe used tobit regression OLS and t-test methods to reveal the association between environmental performance and the level of voluntary environmental disclosure.FindingsWe find a significant positive association between the level of discretionary environmental disclosures and corporate environmental performance. The result is in line with the arguments of economics disclosure theory that argues environmentally good performers disclose more.Practical implicationsMany of the environmentally good firms in Turkey are also listed in the “BIST Sustainability Index,” and this situation can be the result of the relative power of external regulations. Accordingly, it can be suggested to increase the community and governmental pressures for environmental reporting but also gives importance to increase intrinsic motivations for companies to engage in disclosure practices.Originality/valueThis study shed light on relation between environmental performance and environmental disclosure in an emerging market context. Also, it is revisited that the relation between environmental performance and the level of environmental disclosure by testing two different predictions on the level of environmental disclosures.

Does commitment to environmental self-regulation matter? An empirical examination from China

2015 ◽  
Vol 53 (5) ◽  
pp. 932-956 ◽  
Author(s):  
Han Lin ◽  
Saixing Zeng ◽  
Hanyang Ma ◽  
Hongquan Chen
Keyword(s):  
Environmental Performance ◽  
Effective Means ◽  
Self Regulation ◽  
Political Connections ◽  
Corporate Environmental Performance ◽  
Empirical Examination ◽  
Content Type ◽  
Environmental Commitment ◽  
Manufacturing Sectors ◽  
Practical Implications

Purpose – The purpose of this paper is to develop a better understanding of the mechanisms by which symbolic commitment to self-regulation influences corporate environmental performance through the adoption of substantive actions. Design/methodology/approach – Using a sample of Chinese listed private firms in manufacturing sectors, this paper empirically investigates whether and how corporate symbolic commitment to environmental self-regulation really improves the consequences of corporate activities with respect to environmental issues under the current Chinese context. A moderated mediation analysis is employed to test the hypotheses and examine the relationships proposed in the research framework. Findings – The authors argue that making a commitment to environmental self-regulation could motivate firms to implement effective means of being green. The intriguing and robust results show that firms with higher ranking environmental commitment are more likely to use political connections to obtain resources (green subsidies), and then improve environmental performance. Practical implications – The results of this study provide a snapshot of the mechanism between symbolic promises and real outcomes. Originality/value – The authors theorize about and test both direct and indirect effects of commitment to self-regulation on real outcomes which provide empirical evidence for the incipient but growing understanding of self-regulation.

Media portrayals of older employees: a success story?

2014 ◽  
Vol 27 (4) ◽  
pp. 583-597 ◽  
Author(s):  
Martine van Selm ◽  
Beatrice I.J.M. Van der Heijden
Keyword(s):  
Mass Media ◽  
Older Workers ◽  
Longitudinal Research ◽  
Empirical Studies ◽  
Empirical Work ◽  
Corporate Communication ◽  
Content Type ◽  
Media Portrayals ◽  
Older Employees ◽  
Age Related

Purpose – The purpose of this paper is to provide an analysis of how portrayals of older employees in mass media messages can help combating stereotypical beliefs on their employability. Design/methodology/approach – The authors conducted a systematic review of empirical studies on mass media portrayals of older employees in order to show what these reveal about the ways in which their employment status, occupation, job type, or work setting is portrayed. The approach builds upon theory on media portrayals, media effects, and stereotypes of older workers’ employability. Findings – This study shows that older employees in media portrayals, when present at all, are relatively often shown in higher-level professional roles, herewith overall, depicting an image that is positive, yet differs from stereotypical beliefs on their employability that are prevalent in working organizations. Research limitations/implications – Further empirical work is needed to more safely conclude on the prevalence of age-related portrayals of work and employment in mass media. In addition, longitudinal research is called for in order to better understand the possible causes for the way in which older employees are portrayed, as well as effects of age-related stereotyping in mass media and corporate communication outlets over time. Practical implications – This research sparks ideas about how new portrayals of older employees in mass media and corporate communication outlets can contribute to novel approaches to managing an aging and multi-generational workforce. Social implications – This study shows how working organizations can make use of the positive and powerful media portrayals of older employees, in order to activate normal and non-ageist behaviors toward them, and herewith, to increase their life-long employability. Originality/value – This study highlights the role of media portrayals of older employees in combating stereotypes about their employability.

scholarly journals The performance of corporate bond issuers in times of financial crisis: empirical evidence from Latin America

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Marc Berninger ◽  
Bruno Fiesenig ◽  
Dirk Schiereck
Keyword(s):  
Latin America ◽  
Latin American ◽  
Empirical Studies ◽  
Corporate Bond ◽  
Economic Conditions ◽  
Corporate Debt ◽  
Market Reactions ◽  
Content Type ◽  
Financing Decisions ◽  
Theoretical Approaches

PurposeThe fundamental theory of Modigliani and Miller (1958) states that a firm's financing decisions are independent from the firm's value. Nevertheless, several empirical studies as well as theoretical approaches from the past decade impugn this relation for real markets with their immanent inefficiencies. However, these questions are rather than academic in nature: Especially the influence of macroeconomic conditions on the market perception of debt issues is from high economic importance, since the need for new liquidity usually becomes even more urgent when the economic conditions worsen.Design/methodology/approachThis paper analyzes the reaction of shareholders to the issue of debt by Latin American firms under special consideration of the macroeconomic sentiment. To do so, a sample of debt issued by Latin American companies between 2003 and 2010 is empirically examined through an event study.FindingsThe authors empirically demonstrate that specifically in Latin America, debt issuing companies show a significant underperformance during recessionary periods and an overperformance during nonrecessionary periods. These findings differ from previous results for mature capital markets. The authors conclude that not only the overall economic conditions matter to explain stock market reactions on bond issues but also the maturity of the corporate debt market plays an important role.Originality/valueThe authors provide first evidence that the previously described changes in the returns on specific stocks depending on the economic sentiment (Baker and Wurgler, 2006) are under certain conditions also present in the market for corporate debt.

Supervision of environmental enforcement and corporate environmental performance

2019 ◽  
Vol 10 (1) ◽  
pp. 42-66 ◽  
Author(s):  
Yankun Zhou ◽  
Hongtao Shen
Keyword(s):  
Law Enforcement ◽  
Environmental Protection ◽  
Environmental Performance ◽  
Local Governments ◽  
Environmental Governance ◽  
Corporate Environmental Performance ◽  
Working Mechanism ◽  
Environmental Enforcement ◽  
Content Type ◽  
Municipal Level

PurposeThis study aims to deem the new policy – talk for environmental protection – promoted in the second half of 2014 to be the exogenous event and adopts PSM and DID to verify whether and how the central government’s mechanism of supervision of environmental enforcement improves firm environmental performance and reveals the micro effect and working mechanism of the supervision of environmental enforcement.Design/methodology/approachThe researchers first select reasonable control groups for target districts by means of PSM, then apply DID to compare corporations in the treatment group with those in the control group for the change of environmental performance before and after the talk for environmental protection, so as to evaluate the micro-level effect of such talks on corporate environmental performance; after that, the research examines the working mechanism of such talks on corporate environmental performance; then, it goes a step further to find out the environmental impact of such talks on corporations of different natures of property right.FindingsIt is found from the research that the talk for environmental protection will effectively improve the environmental performance of corporations in the target districts, and the improvement of environmental performance in state-owned corporations in the target districts will be more evident. However, such improvements, to a certain extent, are achieved by reducing the output value, and corporations do not increase environmental investments from a long-term perspective.Research limitations/implicationsFirst, the targets of the talk for environmental protection are mainly principals of municipal governments, but the research expands the scope to the whole province due to the small sample at the municipal level. Despite evidences showing that such a pressure of supervision impacts the whole province, the results obtained based on the data at the municipal level will be accurate. Second, the research selects a relatively short research period. Third, due to the limited data on corporate environmental performance in China, the research selects only listed companies from key monitored and controlled firms by state.Practical implicationsFirst, for the central government, environmental policy making is not the end of its job; it shall also supervise local governments’ work at environmental governance and properly handle its relationship with local governments. Second, for the local governments, in the course of implementing environmental policies, they should not only strengthen law enforcement but keep the continuity of law enforcement to avoid moving law enforcement. Third, in the long run, corporations must start from the source of production to enhance environmental governance and make cleaner production, so as to keep boosting corporate competitiveness and their ability of fighting risks.Originality/valueFirst, the research innovatively provides empirical evidence about the effect of China’s supervision of environmental enforcement. Previous studies on this topic are mostly theoretical discussions only, while this research makes the talk for environmental protection the exogenous event about the supervision of law enforcement and achieves breakthroughs in empirical studies of administrative enforcement supervision. Second, the research pushes the studies on the implementation effect of environmental policies from a medium level to a micro level. Third, the research achieves some breakthroughs in the data for measuring corporate environmental performance.

Environmental performance in manufacturing companies: a benchmarking study

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Mariana Trujillo-Gallego ◽  
William Sarache ◽  
Miguel Afonso Sellitto
Keyword(s):  
Environmental Performance ◽  
Statistical Significance ◽  
Empirical Studies ◽  
Industrial Sector ◽  
Geographic Region ◽  
Target Market ◽  
Manufacturing Companies ◽  
Content Type ◽  
Environmental Performance Assessment ◽  
Expert Input

PurposeThis study aims to explore manufacturing companies' environmental performance with the green supply chain management (GSCM) approach, taking into account company size, geographic region, industrial sector, target market and environmental management maturity level.Design/methodology/approachBased on the literature review, five propositions were put forward. An empirical study, using survey research, was completed. The survey questionnaire was designed with 46 items, using both the literature and industry expert input. Statistical analysis was employed to test the propositions in a sample of 116 Colombian manufacturing companies.FindingsThe test results indicate that significant environmental performance differences exist, given company sizes and target markets. However, no statistical significance was found involving the geographic region or industrial sector. Significant differences were found in maturity levels between the three clusters identified: reactive, preventive and proactive. Although the companies in the proactive group performed better, they still lagged in green practices that implied integration with suppliers and customers.Practical implicationsThis study provides empirical evidence regarding the profile of those manufacturing companies that achieve better environmental performance. Moreover, the results yield insights for the generation of continuous improvement processes in companies with lower performance.Originality/valueFew empirical studies have been carried out in GSCM that integrate specific factors in the environmental performance assessment of manufacturing companies in developing countries. On the other hand, the results permit the identification of the profile of those companies with greater maturity in their environmental practices.

scholarly journals Complementary Methods to Mitigate the Misinterpretation of Results Due to Collinearity in International Business Research

Internext ◽  
2022 ◽  
Vol 17 (1) ◽  
pp. 105-127
Author(s):  
Diogenes de Souza Bido ◽  
Antonio Carlos de Oliveira Barroso ◽  
Eric David Cohen
Keyword(s):  
Empirical Research ◽  
International Business ◽  
Latent Variables ◽  
Empirical Studies ◽  
Empirical Work ◽  
Academic Community ◽  
Business Research ◽  
Complementary Methods ◽  
International Business Research ◽  
Social Contributions

Objectives of the study: to demonstrate the methodological gaps in empirical work that use structural models in the area of International Business, and prescribe complementary methods to mitigate the problem of collinearity Method: a simulation was developed to evidence the effects of collinearity with respect to the importance and significance of predictors, and actions aimed at controlling the undesired effects of collinearity was developed Main results: the proposition of complementary methods that include grouping the latent variables that present multicollinearity into a second-order model, and the use of the technique that shows the relative importance of predictors Theoretical and methodological contributions: the contribution is based on the complementary methods offered for the academic community to conduct empirical research that are laid out by the findings of this research paper Relevance and originality: from the gaps pointed out in the recent scientific production of the field of knowledge of international business, complementary methods are presented to mitigate the problem of collinearity, which may render the results of empirical studies invalid Social contributions and management: among the main managerial and social implications achieved through our findings of, we stimulate the development of robust, relevant and reliable empirical research

Structural equation modelling of the impact of environmental capabilities on competitiveness

2019 ◽  
Vol 68 (1) ◽  
pp. 127-147 ◽  
Author(s):  
Milad Abdelnabi Salem
Keyword(s):  
Structural Equation Modelling ◽  
Environmental Performance ◽  
Structural Equation ◽  
Corporate Environmental Performance ◽  
Mediating Effects ◽  
Environmental Practices ◽  
Content Type ◽  
Industrial Companies ◽  
Equation Modelling ◽  
The Relationship

Purpose The purpose of this paper is to investigate the influence of both environmental practices and corporate environmental performance on competitiveness. It determines the mediating effects of corporate environmental performance on the relationship between environmental practices and competitiveness. Design/methodology/approach This study adopts a cross-sectional survey method. The data were collected from 155 industrial companies from Libya and analysed using structural equation modelling. Findings The results indicate that environmental performance partially mediates the relationship between environmental practices and competitiveness. The mediating effects occur between competitiveness and green conventional practices, organisational practices and stakeholders’ integration. Research limitations/implications The study used a self-reported questionnaire completed by managers in Libyan industrial companies. As such, the survey data might be subject to social desirability. Additionally, the results of the study may be generalised only to a similar environment and stage of development. Practical implications The results can help companies better understand how to improve their current resources base by building incremental capabilities, which, in turn, protect the surrounding environment and enhance their competitiveness. Originality/value This study is the first to have considered the issue of incremental capabilities in the environmental domain, which can contribute significantly to better understanding the role of incremental capabilities in improving the competitiveness of companies. Additionally, it provides empirical evidence on the state-of-art of environmental practices and their consequences in less-developed countries which are characterised by scarcity of research.

How nation-level background governance conditions shape the economic payoffs of corporate environmental performance

2019 ◽  
Vol 57 (10) ◽  
pp. 2714-2739 ◽  
Author(s):  
Sukhbir Sandhu ◽  
Marc Orlitzky ◽  
Céline Louche
Keyword(s):  
Environmental Performance ◽  
Home Country ◽  
Organizational Level ◽  
Economic Policies ◽  
Corporate Environmental Performance ◽  
Content Type ◽  
Environmental Initiatives ◽  
Financial Gain ◽  
Institutional Contexts ◽  
The Relationship

Purpose Companies develop and implement environmental initiatives in particular national governance and institutional contexts. The purpose of this paper is to study how the background governance conditions of legal systems, economic policies and national culture enable or impede the relationship between corporate environmental performance (CEP) and lagged corporate financial performance (CFP). Design/methodology/approach This is an empirical study of 427 MNCs headquartered in 22 different countries. The authors merged data from the SiRi database (generally known as SustainAnalytics now), which contains ratings of stakeholder relations for 427 large corporations with publicly available data from Datastream. Findings Drawing on the new institutionalism in economics and sociology, the authors show that common-law systems and high economic freedom in a company’s home country tend to strengthen the CEP-CFP link. In addition, the home-country cultural variables of uncertainty avoidance, long-term orientation, and (to a lesser extent) masculinity may impede the deployment of CEP for maximum financial gain at the organizational level. The macrolevel analysis starts to move the field toward an understanding of the particular national governance configurations that provide the most supportive conditions for any CEP-CFP links. Originality/value One of the central questions in the field of organizations and the natural environment is about the background conditions that may incentivize and reward firms to be more environmentally responsive. The paper addresses this issue through a nation-level investigation of the background governance conditions that may help or hinder the relationship between CEP and CFP.

scholarly journals Capital structure of Islamic banks: a critical review of theoretical and empirical research

2017 ◽  
Vol 9 (3) ◽  
pp. 292-308 ◽  
Author(s):  
Muhammad Rizky Prima Sakti ◽  
Mohamad Ali Tareq ◽  
Buerhan Saiti ◽  
Tahir Akhtar
Keyword(s):  
Capital Structure ◽  
Empirical Research ◽  
Empirical Work ◽  
Theoretical Aspect ◽  
Capital Requirements ◽  
Future Research ◽  
Islamic Banks ◽  
Content Type ◽  
Financing Decisions ◽  
And Performance

PurposeThis paper aims to critically evaluate theoretical and empirical research into capital structure practices in Islamic banks (IBs) from four perspectives, namely, theoretical aspect and its nature, determinants of capital structure in IBs, links between capital structure and risk management and nexus between capital structure and performance of IBs. Design/methodology/approachThe authors will review and examine past studies on IBs’ capital structure from both theoretical and empirical research. FindingsThe paper concludes that most of the literature on IB capital structure is largely theoretical than empirical. The existing studies on IB capital structure have various limitations, which suggest a need for detailed empirical work. Detailed empirical research in the field of capital structure will support bank managers and policymakers in making decisions about improving capital structure. Originality/valueThis research will make several noteworthy contributions to address literature gaps for IB capital structure. Furthermore, this paper will identify areas for future research into capital structure practices and IB financing decisions. Lastly, this paper will equip regulators with guidelines for establishing sound capital requirements for IB.

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