Green side of informal institutions: Social trust and environmental sustainability

IF 3.6 2区 哲学 Q2 BUSINESS Business Ethics the Environment & Responsibility Pub Date : 2023-06-13 DOI:10.1111/beer.12562
Daxin Sun, Yaxin Zhang, Xiaohua Meng
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Abstract

Informal institutions are found to shape the behaviors of economic organizations within the business world by creating localized social norms and moral commitments. However, the existing literature pays greater attention to the financial consequences of such institutions, and little is known about their environmental impacts, especially in the context of transition economies. By linking institutional theory with environmental strategy literature, in this study, we develop a theoretical framework and empirically test how social trust, one of the dimensions of informal institutions, influences corporate environmental responsibility. Using a longitudinal data set of Chinese listed firms from 2006 to 2015, we find support that firms located in regions with a higher level of social trust engage in more environmental responsibility activities. We also show that this effect is more pronounced when local environmental protests are fewer and information transparency is worse. Our findings highlight the importance of social trust in environmental governance and provide evidence of how it serves as a substitute for formal environmental institutions in transition economies.

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非正式机构的绿色一面:社会信任和环境可持续性
非正式制度被发现通过创造本地化的社会规范和道德承诺来塑造商业世界中经济组织的行为。然而,现有文献更多地关注这些机构的财务后果,对其环境影响知之甚少,尤其是在转型经济体的背景下。通过将制度理论与环境战略文献相结合,我们建立了一个理论框架,并实证检验了社会信任(非正式制度的一个维度)如何影响企业的环境责任。利用2006年至2015年中国上市公司的纵向数据集,我们发现,位于社会信任水平较高地区的公司参与了更多的环境责任活动。我们还表明,当当地的环境抗议活动较少,信息透明度较差时,这种影响更为明显。我们的研究结果强调了社会信任在环境治理中的重要性,并为社会信任如何取代转型经济体的正式环境机构提供了证据。
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CiteScore
5.20
自引率
19.00%
发文量
86
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