Business Strategy and Development最新文献

Air pollution poses a significant challenge to corporate sustainability, yet its effects on Environmental, Social, and Governance (ESG) performance remain underexplored from a strategic perspective. This study examines the asymmetric impact of fine (PM2.5) and ultrafine (PM1.0) particulate matter on the ESG scores of 19,056 Chinese manufacturing firms between 2010 and 2020. Grounded in risk perception and causal attribution theories, we apply the method of moments panel quantile regression (MMPQR) and the system GMM (SYS-GMM) estimator to capture distributional effects and address potential endogeneity. The results reveal that air pollution has a stronger negative effect on firms with higher ESG scores, with the most pronounced impacts observed in the Social and Governance dimensions. These findings suggest that sustainability leaders face disproportionate reputational and operational risks under environmental stress. We discuss strategic implications, highlighting the need for targeted policy incentives, stronger governance frameworks, and sustained corporate commitments to mitigate these asymmetric effects. Integrating environmental constraints into corporate strategy enables firms to enhance resilience and support broader sustainable development goals.

This study aims to systematize and analyze the literature on eco-innovation as a strategy for mitigating greenhouse gas (GHG) emissions. It seeks to identify the main conceptual approaches, trends, and typologies that connect eco-innovation practices with climate change mitigation goals. A systematic literature review was conducted using the Systematic Reviews and Meta-Analyses protocol. A total of 85 peer-reviewed articles were selected and analyzed using Iramuteq software to identify lexical patterns and thematic structures. The analysis focused on two dimensions: (i) conceptual approaches to eco-innovation; and (ii) the role of eco-innovation in reducing GHG emissions. The study reveals five dominant conceptual approaches: green technologies, sustainability strategies, policy instruments, business models, and environmental management. These are linked to GHG mitigation through such as product, process, organizational, and systemic innovations. The findings contribute to a better understanding of how eco-innovation can support decarbonization. This research offers a dual-lens framework that bridges theory and climate mitigation practice.

Sustainability is gaining prominence in professional football due to the sport's global visibility, wide fan base, and resource-intensive nature. However, the extent to which football clubs integrate sustainability into their strategic agendas remains unclear, and scholarly research on this topic is still emerging. This study addresses this gap by examining the determinants and effects of sustainability practices in the football industry. Drawing on stakeholder theory and employing a qualitative case study of Forest Green Rovers (FGR)—widely recognized as a pioneer in sustainable football—this study collected data through document analysis, publicly available interviews, audiovisual materials, and other secondary sources. The findings show that sustainability adoption at FGR is primarily driven by the values and leadership of top management, who embrace strong environmental and ethical principles, supported by strategic positioning objectives and competitive motivations such as talent attraction and performance enhancement. The case highlights multiple benefits associated with sustainability initiatives, including competitive advantages, environmental improvements, social outcomes, and financial returns. By examining a pioneering club, this research advances theoretical and practical understanding of how sustainability can be strategically embedded within professional football organizations.

The growing pressure on manufacturing firms to integrate economic performance with environmental responsibility highlights the importance of Industry 5.0-enabled circular supply chains (CSCs). This study identifies and prioritizes performance outcomes (POs) derived from adopting critical success factors (CSFs) in Industry 5.0-enabled CSCs. A hybrid multi-criteria decision-making framework is applied in three phases: identification of CSFs and POs through a systematic literature review and expert consultation; determination of CSF weights using the best–worst method (BWM) and level-based weight assessment (LBWA), and prioritization of POs using the fuzzy technique for order of preference by similarity to ideal solution (F-TOPSIS). The results show that reducing waste and discarding costs (PO8, CC_i = 0.8857) and improving production efficiency, operational, and economic performance (PO10, CC_i = 0.8851) rank highest among POs. The study provides practitioners with a structured tool for prioritizing POs and highlights policy needs for regulatory support, technological incentives, and workforce development.

This study examines how risk management committees (RMCs) and global reporting initiative (GRI) compliance shape the relationship between firms' greenhouse gas emissions and market value, potentially transforming emissions from perceived liabilities into strategic value signals. Analyzing 1203 firm-year observations from 205 European oil and gas companies (2018–2023) through moderated-mediation frameworks (System GMM, Hayes' PROCESS Model 59), we reveal that firms with RMCs mitigate 37% of emissions-related value destruction, while GRI compliance mediates 12% of the emissions–value relationship—but only when combined with robust governance oversight. Scope-specific analysis demonstrates hierarchical investor attention: Scope 1 emissions command 32% stronger market penalties than Scope 3, reflecting regulatory controllability premiums under EU ETS. Our findings demonstrate that governance-reporting synergies intensify post-EU Taxonomy implementation, offering critical implications for European energy transition strategies, corporate decarbonization prioritization, and regulatory architecture design in carbon-constrained economies.

The Indian leather sector, ranked second to China in terms of employment and exports, encounters considerable sustainability concerns. This study examines the function of intermediaries in promoting environmental and social sustainability throughout the leather industry's supply chain. We used a two-phase approach; in the first phase, we applied a qualitative, case study-based methodology with 15 respondents from Kanpur, Chennai, and Kolkata. We aimed to ascertain the performance metrics of intermediaries via thematic analysis. In the second phase, we employed the Analytical Hierarchy Process (AHP) to prioritize these parameters. Broadly, the findings reveal that intermediaries facilitate environmental compliance, ethical sourcing, market access, capacity building, and financial inclusion for MSMEs, positioning them as strategic agents of sustainable transformation rather than mere transactional entities. The strategic significance of intermediaries has been promoted through the integration of transaction cost theory and cluster theory. The study proposes a novel performance measurement framework for intermediaries, contributing to limited literature in this domain. It emphasizes the need for robust intermediary institutions and targeted public-private investments to strengthen cluster development and enhance global competitiveness.

The traditional open-loop supply chain, based on a take-make-dispose model, has driven economic growth but has also significantly harmed the environment. A circular supply chain integrates both forward and reverse logistics, aiming for sustainability and resource efficiency. This study explores circular performance measurement through Circular Supply Chain (CSC) practices in India's emerging manufacturing sector. A structured framework has been developed to evaluate performance and enhance CSC understanding. To prioritize circular performance measures, an innovative multi-criteria decision-making (MCDM) approach using Interval-Valued Fermatean Fuzzy Sets (IVFFSs) is introduced. The framework applies the IVFF-CRITIC-RS-COCOSO methodology, guiding decision-makers in selecting the most effective practices. The study identifies 26 CSCM practices and 19 performance indicators crucial for successful implementation. Reverse logistics is found to be the most critical practice, followed by green procurement from eco-friendly suppliers. Key indicators include Circular Design Practices, Reverse Logistics Efficiency, and Circular Economy Partnerships. Research offers a novel and practical framework that also contributes to achieving the Sustainable Development Goals.

With an emphasis on environmental attitudes and trust in eco-labels as mediators, this study explores the relationships among eco-label credibility, eco-label knowledge, and green purchase behavior. By doing this, a more multifaceted understanding of psychological and informational factors that may motivate consumers to make green purchase decisions is provided. A quantitative survey collected responses from 409 consumers, and structural equation modeling and regression analyses were performed to test the proposed hypotheses. The results reveal a clear knowledge–behavior gap. Eco-label knowledge does not, on its own, motivate people to buy green products. Only when eco-label knowledge fosters trust and strengthens positive environmental attitudes does it become effective, especially in emerging market contexts. With the integration of three theories of Signaling Theory, the Elaboration Likelihood Model, and the Theory of Planned Behavior, this study explains how eco-label information moves from being “just information” to becoming a psychological driver of actual behaviors.

This study investigated how environmental corporate social responsibility (CSR), the norm activation model (NAM), and anticipated emotions collectively shape attachment-aversion (AA) relationships and pro-brand behavioral intentions in the hotel sector. Focusing specifically on the environmental dimension of CSR—given its growing relevance to sustainability and consumer expectations in hospitality—the study employed fuzzy-set qualitative comparative analysis (fsQCA) to identify how combinations of environmental CSR initiatives (e.g., conservation efforts), NAM components (e.g., problem awareness), and emotions (e.g., pride) influence customer behavior. The findings revealed that high pro-brand behavioral intentions arise from particular configurations of these factors, while other combinations are linked to aversion. By addressing the interplay among these variables and emphasizing the environmental aspect of CSR, this research provides actionable insights for optimizing sustainable hotel management and enhancing customer-brand relationships.