Social Networking Influence on Environmental and Corporate Performance

D. Diaz, B. Theodoulidis, A. Shahgholian
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引用次数: 8

Abstract

In this paper, we examine the role of social networking on the adoption of sustainability policies and related strategies that organizations implement. There is a growing consensus among corporate leaders that taking action on climate change is a responsible business decision and in many respects, it is a necessary action because of the increasing requirements for organisations to report on their environmental profile. As reported in the literature, social networking and board interlocks affect the way companies make decisions in relation to financial matters. In this paper we examine whether this relation can also be extended to environmental performance and environmental decision making. Using a sample of 310 companies from USA for 2008 our results shows preliminary evidence that this relationship indeed exist. More specifically, we show that companies that are highly connected also tend have formal structures for environmental governance, such as, clear environmental targets and related performance incentives, and also count with several dissemination mechanisms for such actions and policies, including corporate website and 'green' contents and targets, as well as formal ways of reporting, such as annual 'green' reports. Moreover, these so called 'green' companies not only are highly connected to each other, but also, in relation to financial performance, tend to be of major size (measured as the total assets) and have higher return on equity compared to their unconnected and not so environmentally friendly peers.
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社会网络对环境和企业绩效的影响
在本文中,我们研究了社会网络对组织实施可持续发展政策和相关战略的作用。企业领导人越来越多地认为,对气候变化采取行动是一项负责任的商业决策,而且在许多方面,这是一项必要的行动,因为对组织报告其环境概况的要求越来越高。正如文献所报道的那样,社交网络和董事会连锁影响公司在财务事务方面做出决策的方式。在本文中,我们研究了这种关系是否也可以推广到环境绩效和环境决策。利用2008年美国310家公司的样本,我们的结果显示了这种关系确实存在的初步证据。更具体地说,我们表明,高度关联的公司往往也有正式的环境治理结构,例如,明确的环境目标和相关的绩效激励,也有一些传播机制,这些行动和政策,包括公司网站和“绿色”内容和目标,以及正式的报告方式,如年度“绿色”报告。此外,这些所谓的“绿色”公司不仅彼此高度联系,而且在财务业绩方面,往往规模较大(以总资产衡量),与那些没有联系、不那么环保的同行相比,股本回报率更高。
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