Tiina Onkila, Noelia‐Sarah Reynolds, Marileena Mäkelä, Katariina Koistinen, Satu Teerikangas, Milla Sarja, Mira Valkjärvi
Changes in business strategies are necessary to increase sustainability within business organisations, and change agents are key to bringing about and shaping change. Sustainability change agency involves constant reflection on change agents' roles in complex contexts, a process that arouses emotions for those agents. In this study, we assume a contextual view of change to understand how sustainability change agency develops during change processes and the role of emotions in agency behind strategic changes, such as the implementation of a circular economy. The study is based on interviews with 51 circular economy professionals in Finnish business organisations. By analysing key events and emotions in sustainability change agent (SCA) work, the study contributes to the existing research by showing that initiating and managing sustainability strategies consists of multiple unplanned and unexpected emotional events and experiences. These events and experiences shape SCA's ability and motivation to act for change, leading to continual individual‐level reflection by SCAs, manifesting as ideological, reassuring and fragmenting processes within the larger change process. Such reflection maintains, paralyses, enforces or reshapes their agency, depending on the context.
{"title":"Meaningfulness, satisfaction and frustration: The importance of emotions for sustainability change agency","authors":"Tiina Onkila, Noelia‐Sarah Reynolds, Marileena Mäkelä, Katariina Koistinen, Satu Teerikangas, Milla Sarja, Mira Valkjärvi","doi":"10.1002/bse.3918","DOIUrl":"https://doi.org/10.1002/bse.3918","url":null,"abstract":"Changes in business strategies are necessary to increase sustainability within business organisations, and change agents are key to bringing about and shaping change. Sustainability change agency involves constant reflection on change agents' roles in complex contexts, a process that arouses emotions for those agents. In this study, we assume a contextual view of change to understand how sustainability change agency develops during change processes and the role of emotions in agency behind strategic changes, such as the implementation of a circular economy. The study is based on interviews with 51 circular economy professionals in Finnish business organisations. By analysing key events and emotions in sustainability change agent (SCA) work, the study contributes to the existing research by showing that initiating and managing sustainability strategies consists of multiple unplanned and unexpected emotional events and experiences. These events and experiences shape SCA's ability and motivation to act for change, leading to continual individual‐level reflection by SCAs, manifesting as ideological, reassuring and fragmenting processes within the larger change process. Such reflection maintains, paralyses, enforces or reshapes their agency, depending on the context.","PeriodicalId":9518,"journal":{"name":"Business Strategy and The Environment","volume":null,"pages":null},"PeriodicalIF":13.4,"publicationDate":"2024-08-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141991796","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Shahryar Sorooshian, Sina Fazel Khiavi, Farzane Karimi, Hassan Mina
Modern industries use advanced technological solutions to efficiently manage waste and increase the sustainability of supply chain (SC) networks. Technologies in SC networks can achieve this by establishing a link between circular economy principles and Industry 4.0. Therefore, in this study, for the first time, a novel bi‐objective mixed‐integer linear programming model is developed to design a sustainable SC network by considering circular economy practices, the Internet of Things (IoT) technology, and the location‐routing problem with a simultaneous pickup‐and‐delivery (P&D) strategy in the electric vehicle (EV) battery industry. The proposed model locates distribution and recycling centers and considers the routing problem with the P&D strategy between the distribution centers and service providers. By applying the augmented epsilon‐constraint method, a balance is established between minimizing total costs and carbon emissions, and a set of Pareto‐optimal solutions is provided. It should be noted that the P&D strategy reduces the total costs and carbon emissions, and the IoT technology provides conditions for designing a secure and traceable network. The performance of the proposed model is evaluated using data from an EV battery module manufacturing company in the Far East. A sensitivity analysis of the parameters related to operational costs, carbon emissions, and demand demonstrated the accuracy of the performance of the proposed model.
{"title":"Link between sustainable circular supply chain and Internet of Things technology in electric vehicle battery manufacturing industry: A business strategy optimization for pickup and delivery","authors":"Shahryar Sorooshian, Sina Fazel Khiavi, Farzane Karimi, Hassan Mina","doi":"10.1002/bse.3905","DOIUrl":"https://doi.org/10.1002/bse.3905","url":null,"abstract":"Modern industries use advanced technological solutions to efficiently manage waste and increase the sustainability of supply chain (SC) networks. Technologies in SC networks can achieve this by establishing a link between circular economy principles and Industry 4.0. Therefore, in this study, for the first time, a novel bi‐objective mixed‐integer linear programming model is developed to design a sustainable SC network by considering circular economy practices, the Internet of Things (IoT) technology, and the location‐routing problem with a simultaneous pickup‐and‐delivery (P&D) strategy in the electric vehicle (EV) battery industry. The proposed model locates distribution and recycling centers and considers the routing problem with the P&D strategy between the distribution centers and service providers. By applying the augmented epsilon‐constraint method, a balance is established between minimizing total costs and carbon emissions, and a set of Pareto‐optimal solutions is provided. It should be noted that the P&D strategy reduces the total costs and carbon emissions, and the IoT technology provides conditions for designing a secure and traceable network. The performance of the proposed model is evaluated using data from an EV battery module manufacturing company in the Far East. A sensitivity analysis of the parameters related to operational costs, carbon emissions, and demand demonstrated the accuracy of the performance of the proposed model.","PeriodicalId":9518,"journal":{"name":"Business Strategy and The Environment","volume":null,"pages":null},"PeriodicalIF":13.4,"publicationDate":"2024-08-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141991935","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Noelia Garcia‐Buendia, Miguel Núñez‐Merino, José Moyano‐Fuentes, Juan Manuel Maqueira‐Marín
Circular supply chain management (CSCM) is the revolutionary integration of circular principles into supply chain management and the supply chain environment to achieve zero waste and outperform traditional supply chain sustainability models in advancing supply chain circularity. This study examines CSCM and the corresponding literature to highlight key research themes and trends. An advanced iteration of the Systematic Science Mapping analysis methodology has been designed and implemented with a Named Entity Recognition approach to extract relevant information from scientific articles. Key themes are revealed such as essential capabilities for circularity in the supply chain, circular business models, sustainable supplier selection and blockchain technology's role. The article gives insights into current research and identifies emerging trends in CSCM. This exploration aims to provide a nuanced understanding of CSCM's transformative power and shed light on its practical implications.
{"title":"Squaring circular supply chain management: A comprehensive overview of emerging themes and trends","authors":"Noelia Garcia‐Buendia, Miguel Núñez‐Merino, José Moyano‐Fuentes, Juan Manuel Maqueira‐Marín","doi":"10.1002/bse.3932","DOIUrl":"https://doi.org/10.1002/bse.3932","url":null,"abstract":"Circular supply chain management (CSCM) is the revolutionary integration of circular principles into supply chain management and the supply chain environment to achieve zero waste and outperform traditional supply chain sustainability models in advancing supply chain circularity. This study examines CSCM and the corresponding literature to highlight key research themes and trends. An advanced iteration of the Systematic Science Mapping analysis methodology has been designed and implemented with a Named Entity Recognition approach to extract relevant information from scientific articles. Key themes are revealed such as essential capabilities for circularity in the supply chain, circular business models, sustainable supplier selection and blockchain technology's role. The article gives insights into current research and identifies emerging trends in CSCM. This exploration aims to provide a nuanced understanding of CSCM's transformative power and shed light on its practical implications.","PeriodicalId":9518,"journal":{"name":"Business Strategy and The Environment","volume":null,"pages":null},"PeriodicalIF":13.4,"publicationDate":"2024-08-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141980566","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Suham Cahyono, Iman Harymawan, Hadrian Geri Djajadikerta, Abu Hanifa Md. Noman
The adoption of business strategies at the corporate level is often associated with the resource‐based view theory. However, many scholars have not definitively determined whether aligning business strategies with the principles of the resource‐based view theory is consistent with the perspective presented by stakeholder theory. This study examines the relationship between corporate business strategies and environmental disclosure. Specifically, we investigate whether CEO's managerial ability may strengthen the association by emphasizing stakeholder theory to address this inquiry. Using a sample of 1243 publicly traded companies registered with the Carbon Disclosure Project (CDP) from 2015 to 2021, our findings indicate that a firm's chosen business strategy significantly influences its environmental disclosure practices. In particular, we observe that firms pursuing an innovation‐oriented business strategy (prospectors) are less inclined to disclose, initiate, or increase their environmental disclosures compared with those following a cost‐efficient business strategy (defenders). To address endogeneity and ensure robustness, we conduct a battery of tests, including the entropy balancing approach, two‐step generalized method of the moment using Arellano‐Bond estimation, Heckman two‐stage regression, and coarsened exact matching. This study offers valuable insights into the determinants of firms' environmental disclosure practices, with significant implications for policymakers, investors, and other stakeholders interested in promoting sustainability and corporate responsibility.
在企业层面采用商业战略通常与基于资源的观点理论有关。然而，许多学者并没有明确确定，将企业战略与基于资源的观点理论的原则相一致是否符合利益相关者理论所提出的观点。本研究探讨了企业经营战略与环境信息披露之间的关系。具体而言，我们通过强调利益相关者理论来研究 CEO 的管理能力是否会加强两者之间的联系。我们以 2015 年至 2021 年在碳信息披露项目（CDP）注册的 1243 家上市公司为样本，研究结果表明，企业选择的商业战略会显著影响其环境信息披露实践。特别是，我们观察到，与奉行成本效益型商业战略的公司（维护者）相比，奉行创新型商业战略的公司（开拓者）更不倾向于披露、启动或增加环境信息披露。为了解决内生性问题并确保稳健性，我们进行了一系列测试，包括熵平衡法、使用阿雷拉诺-邦德估计法的两步广义矩法、赫克曼两阶段回归法和粗化精确匹配法。本研究为企业环境信息披露实践的决定因素提供了宝贵的见解，对政策制定者、投资者和其他有志于促进可持续发展和企业责任的利益相关者具有重要意义。
{"title":"Corporate business strategy, CEO's managerial ability, and environmental disclosure: The perspective of stakeholder theory","authors":"Suham Cahyono, Iman Harymawan, Hadrian Geri Djajadikerta, Abu Hanifa Md. Noman","doi":"10.1002/bse.3894","DOIUrl":"https://doi.org/10.1002/bse.3894","url":null,"abstract":"The adoption of business strategies at the corporate level is often associated with the resource‐based view theory. However, many scholars have not definitively determined whether aligning business strategies with the principles of the resource‐based view theory is consistent with the perspective presented by stakeholder theory. This study examines the relationship between corporate business strategies and environmental disclosure. Specifically, we investigate whether CEO's managerial ability may strengthen the association by emphasizing stakeholder theory to address this inquiry. Using a sample of 1243 publicly traded companies registered with the Carbon Disclosure Project (CDP) from 2015 to 2021, our findings indicate that a firm's chosen business strategy significantly influences its environmental disclosure practices. In particular, we observe that firms pursuing an innovation‐oriented business strategy (prospectors) are less inclined to disclose, initiate, or increase their environmental disclosures compared with those following a cost‐efficient business strategy (defenders). To address endogeneity and ensure robustness, we conduct a battery of tests, including the entropy balancing approach, two‐step generalized method of the moment using Arellano‐Bond estimation, Heckman two‐stage regression, and coarsened exact matching. This study offers valuable insights into the determinants of firms' environmental disclosure practices, with significant implications for policymakers, investors, and other stakeholders interested in promoting sustainability and corporate responsibility.","PeriodicalId":9518,"journal":{"name":"Business Strategy and The Environment","volume":null,"pages":null},"PeriodicalIF":13.4,"publicationDate":"2024-08-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141980532","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Abdullah S. Karaman, Nejla Ould Daoud Ellili, Ali Uyar
Over 75% of a firm's carbon footprint is attributed to logistics activities and transportation related to the acquisition, production, and distribution of materials and goods. Green supply chain management is considered a way to reduce carbon emissions and address climate change concerns. Accordingly, this study aims to investigate whether sustainable supply chain practices reduce carbon emissions and whether supplier environmental, social, and governance (ESG) training further enhances this effect, thereby reinforcing the negative association. We collected data for an international sample of manufacturing firms from Thomson Reuters Eikon for the period between 2002 and 2021 and ran a country–year fixed‐effects regression. To address endogeneity, we also utilized two‐stage least squares regression, propensity score matching, and entropy balancing. Our findings indicate that sustainable supply chain practices alleviate carbon emissions. Furthermore, we found that supplier ESG training strengthens this relationship, leading to even higher reductions in carbon emissions. Specifically, this training reinforces the negative association between sustainable supply chain practices and carbon emissions, resulting in a more pronounced decrease in carbon emissions. These results are robust to alternative proxies, samples, and endogeneity concerns. Our study highlights the importance of policy development and collaborative interorganizational actions among supply chain partners in developing solutions to climate change issues. As supply chain activities generate high levels of emissions and regulatory press is mounting, our findings may help firms take proactive actions for greener supply chain management and avoid regulatory sanctions. Additionally, we found that institutional strength stimulates firms' clean supply chain practices. Therefore, we advise policymakers to develop and implement necessary policies in less developed countries with weak public environmental regulations.
{"title":"Do sustainable supply chain practices mitigate carbon emissions? The role of supplier environmental, social and governance training","authors":"Abdullah S. Karaman, Nejla Ould Daoud Ellili, Ali Uyar","doi":"10.1002/bse.3931","DOIUrl":"https://doi.org/10.1002/bse.3931","url":null,"abstract":"Over 75% of a firm's carbon footprint is attributed to logistics activities and transportation related to the acquisition, production, and distribution of materials and goods. Green supply chain management is considered a way to reduce carbon emissions and address climate change concerns. Accordingly, this study aims to investigate whether sustainable supply chain practices reduce carbon emissions and whether supplier environmental, social, and governance (ESG) training further enhances this effect, thereby reinforcing the negative association. We collected data for an international sample of manufacturing firms from Thomson Reuters Eikon for the period between 2002 and 2021 and ran a country–year fixed‐effects regression. To address endogeneity, we also utilized two‐stage least squares regression, propensity score matching, and entropy balancing. Our findings indicate that sustainable supply chain practices alleviate carbon emissions. Furthermore, we found that supplier ESG training strengthens this relationship, leading to even higher reductions in carbon emissions. Specifically, this training reinforces the negative association between sustainable supply chain practices and carbon emissions, resulting in a more pronounced decrease in carbon emissions. These results are robust to alternative proxies, samples, and endogeneity concerns. Our study highlights the importance of policy development and collaborative interorganizational actions among supply chain partners in developing solutions to climate change issues. As supply chain activities generate high levels of emissions and regulatory press is mounting, our findings may help firms take proactive actions for greener supply chain management and avoid regulatory sanctions. Additionally, we found that institutional strength stimulates firms' clean supply chain practices. Therefore, we advise policymakers to develop and implement necessary policies in less developed countries with weak public environmental regulations.","PeriodicalId":9518,"journal":{"name":"Business Strategy and The Environment","volume":null,"pages":null},"PeriodicalIF":13.4,"publicationDate":"2024-08-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141980564","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
This paper investigates the effect of an overconfident CEO on firm greenhouse gas emissions. Using panel data of 160,115 firm‐year observations from 41 countries for 2000–2021, we find a negative relationship between CEO overconfidence and greenhouse gas emissions. Additionally, drawing on the theories of gender socialisation and diversity, we find that great representation of females on the board further compels overconfident CEOs to reduce firm carbon emissions. Our findings are robust to varying estimation techniques and identification strategies. These findings offer important insights to green investors, corporate boards, managers and policymakers on the role of overconfident CEOs and female leadership in the carbon abatement efforts of public companies.
{"title":"CEO hubris and corporate carbon footprint: The role of gender diversity","authors":"Frank Kwabi, Samuel Fulgence, Gbenga Adamolekun","doi":"10.1002/bse.3909","DOIUrl":"https://doi.org/10.1002/bse.3909","url":null,"abstract":"This paper investigates the effect of an overconfident CEO on firm greenhouse gas emissions. Using panel data of 160,115 firm‐year observations from 41 countries for 2000–2021, we find a negative relationship between CEO overconfidence and greenhouse gas emissions. Additionally, drawing on the theories of gender socialisation and diversity, we find that great representation of females on the board further compels overconfident CEOs to reduce firm carbon emissions. Our findings are robust to varying estimation techniques and identification strategies. These findings offer important insights to green investors, corporate boards, managers and policymakers on the role of overconfident CEOs and female leadership in the carbon abatement efforts of public companies.","PeriodicalId":9518,"journal":{"name":"Business Strategy and The Environment","volume":null,"pages":null},"PeriodicalIF":13.4,"publicationDate":"2024-08-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141974299","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Drawing on agency and gender socialisation theories, this study examines the effect of Chief Executive Officer (CEO) power on corporate modern slavery disclosures (MSD) and investigates whether board gender diversity might influence this relationship. Based on a sample comprising the Financial Times Stock Exchange (FTSE) 100 companies from 2016 to 2020, the findings indicate that, although there has been progress in corporate transparency concerning modern slavery, a significant gap persists in the reporting on the measurement and monitoring of the effectiveness of their policies. This may stem from powerful CEOs' desires to maintain a positive corporate image, leading to minimal disclosure of potentially damaging information. The fixed effects panel regression analysis reveals a negative relationship between CEO power (CEOP) and the extent of modern slavery disclosures (MSD), with a significant moderating effect observed when female board representation is substantial. This evidence suggests that female board members may challenge groupthink and introduce diverse perspectives that can alter the board's dynamics, potentially mitigating the negative impact of CEOP on issues like modern slavery disclosure by encouraging more ethical and collective decision‐making. This research underscores the need for greater transparency and accountability in addressing modern slavery and promoting more responsible business practices.
{"title":"Examining the relationship between CEO power and modern slavery disclosures: The moderating role of board gender diversity in UK companies","authors":"Amir Allam, Tantawy Moussa, Mahmoud Elmarzouky","doi":"10.1002/bse.3910","DOIUrl":"https://doi.org/10.1002/bse.3910","url":null,"abstract":"Drawing on agency and gender socialisation theories, this study examines the effect of Chief Executive Officer (CEO) power on corporate modern slavery disclosures (MSD) and investigates whether board gender diversity might influence this relationship. Based on a sample comprising the Financial Times Stock Exchange (FTSE) 100 companies from 2016 to 2020, the findings indicate that, although there has been progress in corporate transparency concerning modern slavery, a significant gap persists in the reporting on the measurement and monitoring of the effectiveness of their policies. This may stem from powerful CEOs' desires to maintain a positive corporate image, leading to minimal disclosure of potentially damaging information. The fixed effects panel regression analysis reveals a negative relationship between CEO power (CEOP) and the extent of modern slavery disclosures (MSD), with a significant moderating effect observed when female board representation is substantial. This evidence suggests that female board members may challenge groupthink and introduce diverse perspectives that can alter the board's dynamics, potentially mitigating the negative impact of CEOP on issues like modern slavery disclosure by encouraging more ethical and collective decision‐making. This research underscores the need for greater transparency and accountability in addressing modern slavery and promoting more responsible business practices.","PeriodicalId":9518,"journal":{"name":"Business Strategy and The Environment","volume":null,"pages":null},"PeriodicalIF":13.4,"publicationDate":"2024-08-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141918915","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Giuseppe Nicolò, Gianluca Zanellato, Benedetta Esposito, Adriana Tiron‐Tudor
This study adopts an innovative, holistic research approach based on fuzzy set qualitative comparative analysis (fs‐QCA) to deeply delve into national cultural dimensions' role in affecting banks' sustainability disclosure practices in the Eastern European (EE) region. Accordingly, this study aims to identify whether one or more configurations of cultural dimensions derived from Hofstede's national culture framework are conducive to higher levels of sustainability disclosure, using a sample including the five largest banks in each country of the ‘Bucharest Nine’ (B9) area over 2018–2022 period. Results evidence that sustainability disclosure patterns are not homogeneous among the banks operating in B9 countries. After the introduction of Directive 95/2014/EU, banks in some countries maintained relatively constant levels of sustainability disclosure, while others experienced steady growth rates. No cultural dimension alone would likely determine higher sustainability disclosure levels among B9 banks, confirming that normative pressures influencing EE banks' sustainability disclosure practices result from a combination of more cultural facets. In particular, fs‐QCA highlights a bundle of cultural dimension configurations that mould stakeholders' expectations in investigated countries, exerting pressures on banks to enhance their transparency on sustainability issues. The presence of power distance recurs in most configurations as a factor enabling higher sustainability disclosure levels. On the other hand, in most cases, the presence of uncertainty avoidance and long‐term orientation is conducive to higher banks' sustainability and transparency.
{"title":"Cultural dimensions and sustainability disclosure in the banking sector: Insights from a qualitative comparative analysis approach","authors":"Giuseppe Nicolò, Gianluca Zanellato, Benedetta Esposito, Adriana Tiron‐Tudor","doi":"10.1002/bse.3911","DOIUrl":"https://doi.org/10.1002/bse.3911","url":null,"abstract":"This study adopts an innovative, holistic research approach based on fuzzy set qualitative comparative analysis (fs‐QCA) to deeply delve into national cultural dimensions' role in affecting banks' sustainability disclosure practices in the Eastern European (EE) region. Accordingly, this study aims to identify whether one or more configurations of cultural dimensions derived from Hofstede's national culture framework are conducive to higher levels of sustainability disclosure, using a sample including the five largest banks in each country of the ‘Bucharest Nine’ (B9) area over 2018–2022 period. Results evidence that sustainability disclosure patterns are not homogeneous among the banks operating in B9 countries. After the introduction of Directive 95/2014/EU, banks in some countries maintained relatively constant levels of sustainability disclosure, while others experienced steady growth rates. No cultural dimension alone would likely determine higher sustainability disclosure levels among B9 banks, confirming that normative pressures influencing EE banks' sustainability disclosure practices result from a combination of more cultural facets. In particular, fs‐QCA highlights a bundle of cultural dimension configurations that mould stakeholders' expectations in investigated countries, exerting pressures on banks to enhance their transparency on sustainability issues. The presence of power distance recurs in most configurations as a factor enabling higher sustainability disclosure levels. On the other hand, in most cases, the presence of uncertainty avoidance and long‐term orientation is conducive to higher banks' sustainability and transparency.","PeriodicalId":9518,"journal":{"name":"Business Strategy and The Environment","volume":null,"pages":null},"PeriodicalIF":13.4,"publicationDate":"2024-08-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141918917","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Ferdaous Zouaghi, Teresa Garcia‐Marco, Marian Garcia Martinez
This paper explores the impact of environmental practices on firm financial distress during the COVID‐19 pandemic in both emerging and developed countries. Analysing a sample of 12,181 firm observations from 2016 to 2021, our results indicate that adopting of environmental practices leads to reduced financial distress and more crisis‐resilient economies. The mitigating effect of environmental practices is more pronounced in developed countries. This study provides crucial implications for governments and policymakers, emphasizing the importance of encouraging firms to adopt environmental practices to reduce the likelihood of default.
{"title":"Navigating firm financial distress in turbulent times: The impact of the institutional context","authors":"Ferdaous Zouaghi, Teresa Garcia‐Marco, Marian Garcia Martinez","doi":"10.1002/bse.3917","DOIUrl":"https://doi.org/10.1002/bse.3917","url":null,"abstract":"This paper explores the impact of environmental practices on firm financial distress during the COVID‐19 pandemic in both emerging and developed countries. Analysing a sample of 12,181 firm observations from 2016 to 2021, our results indicate that adopting of environmental practices leads to reduced financial distress and more crisis‐resilient economies. The mitigating effect of environmental practices is more pronounced in developed countries. This study provides crucial implications for governments and policymakers, emphasizing the importance of encouraging firms to adopt environmental practices to reduce the likelihood of default.","PeriodicalId":9518,"journal":{"name":"Business Strategy and The Environment","volume":null,"pages":null},"PeriodicalIF":13.4,"publicationDate":"2024-08-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141910242","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
A transition towards a circular economy (CE) often involves the development and adoption of novel technologies and business models. Its implementation, however, requires a close collaboration within and between organizations along supply chains. In this paper, we investigate incentive alignment for the implementation of reversible bonding, a technique that enables separating materials on demand. We use data from semi‐structured interviews with supply chain actors in manufacturing and construction and identify its potential for process optimization and improved repair, refurbishment, and recycling opportunities. Quality, safety, and performance are identified as the most important boundary conditions while split incentive problems tend to impede the implementation of reversible bonding. Switch costs, a lacking market demand, and insufficient mandatory regulations cause split incentive problems, which may be aggravated or mitigated by several market imperfections. Recommendations include investing in collaborative capabilities within organizations and an ex‐ante identification of split incentive problems when constructing circular supply chain governance mechanisms.
{"title":"Aligning incentives for implementing reversible bonding as a circular economy innovation","authors":"Wim Van Opstal, Anse Smeets, Emma Pals","doi":"10.1002/bse.3904","DOIUrl":"https://doi.org/10.1002/bse.3904","url":null,"abstract":"A transition towards a circular economy (CE) often involves the development and adoption of novel technologies and business models. Its implementation, however, requires a close collaboration within and between organizations along supply chains. In this paper, we investigate incentive alignment for the implementation of reversible bonding, a technique that enables separating materials on demand. We use data from semi‐structured interviews with supply chain actors in manufacturing and construction and identify its potential for process optimization and improved repair, refurbishment, and recycling opportunities. Quality, safety, and performance are identified as the most important boundary conditions while split incentive problems tend to impede the implementation of reversible bonding. Switch costs, a lacking market demand, and insufficient mandatory regulations cause split incentive problems, which may be aggravated or mitigated by several market imperfections. Recommendations include investing in collaborative capabilities within organizations and an ex‐ante identification of split incentive problems when constructing circular supply chain governance mechanisms.","PeriodicalId":9518,"journal":{"name":"Business Strategy and The Environment","volume":null,"pages":null},"PeriodicalIF":13.4,"publicationDate":"2024-08-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141908961","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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