Business Strategy and Development最新文献

Tao, Z. (2024). Do not walk intodarkness in greenhushing: A cross-cultural study on whyChinese and South Korean corporations engage ingreenhushing behavior. Business Strategy & Development, 7(2),e401. https://doi.org/10.1002/bsd2.401

In this paper, the reference of “Branding, A. (2012). Strategically leveraging corporate social responsibility. California Management Review, 54(3).” was incorrect.

This reference should be revised to the following: “Vallaster, C., Lindgreen, A., & Maon, F. (2012). Strategically leveraging corporate social responsibility: A corporate branding perspective. California Management Review, 54(3), 34-60.”

A total of 3 citations of this error are cited in this paper, and they should read as shown below:

In paragraph 2 of the “INTRODUCTION” section, the text “According to Branding (2012), greenhushing organizations are “unrecognized ethical businesses” that fail to integrate sustainability into their brand image.” was incorrect. This should have read: “According to Vallaster, Lindgreen, and Maon (2012), greenhushing organizations are “unrecognized ethical businesses” that fail to integrate sustainability into their brand image.”

In paragraph 3 of the “INTRODUCTION” section, the text “Studies have shown that this phenomenon often occurs when corporations are worried that their environmental initiatives might trigger negative responses or be misunderstood (Branding, 2012; Lindsey, 2016)” was incorrect. This should have read: “Studies have shown that this phenomenon often occurs when corporations are worried that their environmental initiatives might trigger negative responses or be misunderstood (Vallaster, Lindgreen, & Maon, 2012; Lindsey, 2016).”

In paragraph 3 of the “INTRODUCTION” section, the text “Additionally, research indicates that the reasons behind corporations' greenhushing strategies can be classified into motives for cost-saving (Falchi et al., 2022; Koh et al., 2018), motives for risk aversion (Branding, 2012; Cheng et al., 2024; Coles et al., 2017),” was incorrect. This should have read: “Additionally, research indicates that the reasons behind corporations' greenhushing strategies can be classified into motives for cost-saving (Falchi et al., 2022; Koh et al., 2018), motives for risk aversion (Vallaster, Lindgreen, & Maon, 2012; Cheng et al., 2024; Coles et al., 2017),”

We apologize for these errors.

Since the Earth Summit held in Rio de Janeiro in 1992, ISO 14001 has become an internationally recognized environmental management system that has spread all over the world. The existing literature has examined in detail the motivations, benefits, and challenges of ISO 14001 adoption in developed countries. However, there is a relative lack of studies on the adoption of ISO 14001 by the subsidiaries of multinational corporations (MNCs) in developing countries, and in Thailand in particular. This paper investigates the motivations, benefits, and challenges of ISO 14001 adoption at Japanese subsidiaries in Thailand based on the results of a questionnaire survey of 100 subsidiaries and a semi-structured interview survey of 11 subsidiaries. We find that the main motivations are pressures by the national and local governments, as well as by the customers. In addition to the tax incentives, the main benefits are gaining competitiveness, enhancing the corporate image, and maintaining efficient management. We also identify the following challenges: the costs of ISO 14001 adoption, and the training and awareness of the employees. Compared with the existing literature, we find some new motivations, benefits, and challenges related to the local context of ISO 14001 adoption. Although our results are valid only for the Japanese subsidiaries in Thailand, the in-depth understanding of the motivations, benefits, and challenges of ISO 14001 adoption may contribute to the expanding literature about corporate environmental behavior toward sustainable development.

This study analyzes circular entrepreneurship trends across global regions using the 2014–2018 Global Entrepreneurship Monitor dataset. Content analysis of business descriptors from 79,663 unique entrepreneurs was used to position each startup within the 9R's framework. The results show that startups are mainly associated with “repurpose” and “recover”, which are less desirable for circularity. We further define circular entrepreneurs as those with the top 10% highest weighted score in circular strategies according to the type of business they run. The BERTopic approach is applied to identify specific business topics for these entrepreneurs. Similarities (North America and Latin America & the Caribbean) and differences (Europe) in popular topics are found across regions. Lastly, regression analysis reveals that entrepreneurial perception and the presence of role models are key factors driving circular entrepreneurship.

Understanding the key factors that drive entrepreneurial success is vital in our quest to achieve sustainable development goals and cultivate inclusive business models in emerging markets. This study employs a mixed-methods approach, combining qualitative expert interviews (n = 25) with content analysis of secondary data sources (76 journal articles, 17 reports, 20 newspaper articles, 15 blogs, 24 video clips, and 7 book chapters). Data were investigated utilizing grounded theory techniques, including open, axial, and selective coding. The study focuses on successful startups in Bangladesh, selected based on criteria, such as financial performance, growth potential, and innovation. The findings reveal that 92% of successful startup leaders possess resilience, 88% demonstrate effective communication skills, 84% exhibit a growth mindset, and 80% employ a strategic mindset. Furthermore, 76% of these leaders foster a culture of innovation by embracing failure, 72% adopt a vision-oriented approach, and 68% decentralize authority. The study highlights that 64% of successful startups leverage market analysis techniques, 60% optimize their supply chains, 56% employ effective risk management strategies, 52% focus on customer segmentation, and 48% utilize crowdsourcing methods to enhance their strategic decision-making and operational efficiency. Conversely, 40% of unsuccessful startups lack salesmanship skills, 36% lack humility, and 32% have limited coachability. This research contributes to the understanding of entrepreneurial strategies and the private sector's role in achieving sustainable business development in emerging markets, providing valuable insights for entrepreneurs, policymakers, and stakeholders in the entrepreneurial ecosystem.

Inclusive businesses (IBs) are promoted to alleviate poverty and contribute to sustainable development at the base of the pyramid (BOP). In the agri-food sector, there is limited evidence regarding what types of partnerships enhance IBs' value creation potential for low-income producers. This prevents policymakers from providing effective support to IBs and leveraging their full potential for sustainable development. To understand what types of partnerships are more effective for social value creation, this paper conducts a mixed-method analysis of 46 cases from Tanzania and Ghana. It finds that transactional partnerships create efficient IB networks that require limited external support. Such IBs, however, generally undertake business-as-usual activities. In contrast, IBs adopt more innovative business models when their partners are integrated in decision-making and strategic planning. Such IBs, however, often require tailored support to resolve their inter- and intra-organizational challenges. This paper suggests practical considerations for designing IB partnerships to maximize impact potential.

The uncertainty surrounding the possibility of generating sufficient funds from international donors and other public financial resources to support climate action calls for the identification of alternative sources of climate finance options. Ensuring a reliable stream of funds to drive climate action requires the identification of diverse funding channels that can supplement existing ones. Also, in light of the proactive approach required to combat climate change, overreliance on a singular funding source could hinder the achievement of climate-related goals. This is because the existing sources of funding from the central government, local governments, and international agencies remain insufficient to meet the perceived cost of climate change in Ghana. Through a qualitative in-depth interview, empirical data was drawn from religious institutions to identify their contribution toward climate finance. The study revealed that religious institutions play a significant role in climate finance due to their advocacy capacity, financial resources, and extensive networks. Funding from religious institutions has also been channeled into stock adaptation projects and public education, and this is evident in the areas of agriculture, waste, energy, water, and the support rendered to SMEs in general. Besides, their engagement in climate finance is also motivated by ethical, theological, and moral considerations. The study, therefore, argues that funding from religious institutions toward climate change adaptation and mitigation initiatives should be seen as a complementary source of funding to climate finance.

This study delves into the effect of environmental, social and governance (ESG) indicators on economic growth trajectory of an emerging economy. A sample of firms listed on the ESG index of the National Stock Exchange (NSE) was examined. The findings reveal a positive and statistically significant relationship between ESG performance indicators and economic growth represented as gross domestic product (GDP) per capita. The sample is further segregated into energy and non-energy sectors, where the aggregate ESG scores exhibited a statistically significant influence on economic growth in both sectors. However, upon a closer examination of the individual ESG pillars, the governance pillar is observed to exert a negative influence on economic performance in non-energy firms. In contrast, the environment and social pillars show no significant influence. The analysis then employs a unique approach by applying a Difference-in-differences estimator to assess the impact of Business Responsibility and Sustainability Reporting (BRSR) regulations, which confirms a positive impact on economic growth after regulations but exclusively within the non-energy sector. This study underscores the substantial impact of ESG aggregate and individual scores on GDP per capita, which translates to economic growth.

Eco-innovation capability's enhancement of the operational competitiveness of Energy Service Companies (ESCOs) remains under explored in emerging markets. Furthermore, limited evidence exists on the influence of ownership structure on eco-innovation capability and operational performance. This study therefore examines the relationship between eco-innovation capability, ownership structure and operational performance of ESCOs. Questionnaires are electronically distributed to Operations Managers of 287 ESCOs registered by the Energy Commission in Malaysia. To test the direct and moderating effects, Partial Least Square-Structural Equation Modeling (PLS-SEM) is applied on 136 valid responses. Results suggest Eco-innovation Capability significantly enhances ESCOs operational performance, with the model explaining 66% (R² = 0.656) of the variance. Furthermore, a concentrated ownership structure resulted in higher eco-innovation capability and operational performance. These results provide pathways for industry practitioners to improve sustainable development contributions and operational performance whilst providing policymakers with a benchmark towards evaluating the effectiveness of the National Energy Policy.

This study examines the effect of carbon emissions on overinvestment and investigates whether this relationship is moderated by green bond issuance. Based on a sample of 90 non-financial American firms (45 green bond issuers and 45 matched firms) observed from 2014 to 2022, the results indicate that carbon emissions, particularly those from Scopes 1 and 2, increase overinvestment. These findings suggest that carbon emissions are associated with agency conflicts, attributable to various factors such as divergent investment horizons between managers and shareholders. Furthermore, our results show that the issuance of green bonds attenuates this impact. This finding implies that green bonds emerge as a strategic tool not only to address external challenges, such as environmental issues—particularly the increase in carbon emissions—but also to manage internal challenges, such as the problem of overinvestment. Our study contributes to the growing literature on sustainable finance and corporate governance by highlighting the dual role of green bonds in both environmental management and investment efficiency.

Philanthropic venture capitalists (PhVCs) are instrumental in providing access to capital to social enterprises. Our research aims to provide a comprehensive analysis of PhVCs in India. Using deals data for Indian startups from 2014 to 2020, we observe that, on average, 15% of the startup deals are PhVC-funded, and the majority of these deals are in the early or growth stage of financing. Our research examines the challenges faced by social entrepreneurs by analyzing the point of negotiation between PhVCs and social entrepreneurs. We find that, on average, the post-money valuation of social entrepreneurial ventures is lower than that of traditional start-ups, suggesting towards the possibility of lower negotiation power compared to traditional entrepreneurs. This relatively lower valuation exists for all regions in India for growth and the late stages of financing. The study is important from a policy perspective to understand how policies can promote SEs and facilitate the smooth functioning of PhVCs looking to invest in social ventures. Improving venture capital funding avenues for social entrepreneurs is the key to reducing social ventures' financing constraints.