La relación entre la propiedad institucional y de los directivos y el desempeño medioambiental

Abstract

Several studies in the environmental literature have argued that the commitment to sustainable development can benefit companies in several ways. However, this strategy does not seem to be destined to maximizing short-term profit. This paper attempts to give an insight on some of the implications that the owners with the greatest potential for influencing the company's environmental performance strategy. Different ownership structures may imply different objectives to be pursued by the firm, and this may affect the environmental performance. Moreover, we analyse whether a good environmental performance may attract certain types of investors. We test these relationships by taking a sample of 82 U.S. and U.K. firms. Finally, we discuss the results and offer the conclusions of our study.