When in Rome, do as the Romans do: the effect of characteristics of capitalism on environmental performance

Alan Bandeira Pinheiro, Marcelle Colares Oliveira, Maria Belen Lozano
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Abstract

Purpose

The purpose of this research is to investigate the effect of characteristics of capitalism on environmental performance.

Design/methodology/approach

The authors analyzed a sample of 6,257 companies, based in 55 countries and 8 typologies of capitalism. The independent variables are the characteristics of capitalism, measured through five indicators: cooperation between employees and employers, index of economic freedom, local competition between industries, human development index (HDI) and quality of the governance environment. To measure environmental performance, the authors created an index composed of 20 indicators. Data were analyzed using panel data regression and dynamic panel of the generalized method of moments.

Findings

The results indicate that the characteristics of capitalism can shape the environmental behavior of companies. The authors find that in countries with better cooperation between employees and employers, more economic freedom, and competition between firms, in addition to better HDI and national governance, companies have higher environmental performance. When they are in more developed countries, companies have a greater environmental performance.

Practical implications

Managers must consider the country's characteristics of capitalism when making their environmental decisions and strategies. The findings invite governments to incorporate into their regulations mechanisms to protect other interest groups, not just shareholders.

Originality/value

Few studies have examined environmental performance, which is less susceptible to greenwashing. The metric for environmental performance measures the company's concrete effort in relation to environmental issues and not just the disclosure of information. Additionally, the authors examine characteristics of capitalism supported by Varieties of Capitalism, an approach still little explored in the environmental management.

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入乡随俗:资本主义特征对环境绩效的影响
作者分析了 55 个国家和 8 种资本主义类型的 6257 家公司样本。自变量是资本主义的特征,通过五个指标来衡量:雇员与雇主之间的合作、经济自由度指数、行业间的地方竞争、人类发展指数(HDI)和治理环境的质量。为衡量环境绩效,作者创建了一个由 20 个指标组成的指数。研究结果表明,资本主义的特征会影响企业的环境行为。作者发现,在雇员和雇主之间合作较好、经济自由度较高、企业之间存在竞争的国家,除了人类发展指数和国家治理较好之外,企业的环境绩效也较高。实际意义管理者在制定环境决策和战略时,必须考虑资本主义国家的特点。研究结果要求各国政府在其法规中纳入保护其他利益群体(而不仅仅是股东)的机制。原创性/价值很少有研究对不易受 "绿色清洗 "影响的环境绩效进行研究。环境绩效指标衡量的是公司在环境问题上的具体努力,而不仅仅是信息披露。此外,作者还研究了《资本主义的多样性》(Varieties of Capitalism)所支持的资本主义特征,这种方法在环境管理方面的探索仍然很少。
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来源期刊
CiteScore
7.90
自引率
9.70%
发文量
87
期刊介绍: ■Organisational design and methods ■Performance management ■Performance measurement tools and techniques ■Process analysis, engineering and re-engineering ■Quality and business excellence management Articles can address these topics theoretically or empirically through either a descriptive or critical approach. The co-Editors support articles that significantly bring new knowledge to the area both for academics and practitioners. The material for publication in IJPPM should be written in a manner which makes it accessible to its entire wide-ranging readership. Submissions of highly technical or mathematically-oriented papers are discouraged.
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