Firm's emission reduction effectiveness and the influence of the five institutional dimensions of the quintuple helix model: European evidence

IF 4.8 Q1 Economics, Econometrics and Finance

Business Ethics-A European Review Pub Date : 2024-02-06 DOI:10.1111/beer.12662

Carmelo Reverte, Jennifer Martínez-Ferrero, Emma García-Meca

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Abstract

Based upon the quintuple helix model (QHM), this study explores whether the differences in firms' emission reduction effectiveness can be attributed to the five institutional helices related to educational system, economic development, political–legal system, cultural orientation, and the natural capital. Using a set of listed European firms for the 2015–2020 period, we show that firms with better emission reduction effectiveness operate in nations with more public educational expenditure and scientific production, more extensive economic development, and better institutional and governance quality. Moreover, emission reduction strategies are more pronounced in firms located in countries characterized by less masculinity, individualism, power distance, and uncertainty avoidance, and more long-term orientation and indulgence. In addition, we find that companies with better emission reduction effectiveness are found in countries with more natural capital, characterized by a life in harmony with nature and employing the finite resources available in a sustainable and environmentally conscious manner. Moreover, employing a two-stage model to identify the most relevant helix, we find that the political–legal system helix is the most pivotal in promoting firms' commitment to reducing environmental emissions.

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企业的减排效果和五螺旋模型中五个制度维度的影响：欧洲证据

本研究以五重螺旋模型（QHM）为基础，探讨企业减排效果的差异是否可归因于与教育制度、经济发展、政治法律制度、文化导向和自然资本相关的五个制度螺旋。利用一组 2015-2020 年期间的欧洲上市公司，我们发现，减排效果较好的企业在公共教育支出和科学生产较多、经济发展较广泛、制度和治理质量较高的国家运营。此外，减排战略在大男子主义、个人主义、权力距离和不确定性规避较少，以及长期取向和纵容较多的国家更为明显。此外，我们还发现，减排效果较好的公司多位于自然资本较多的国家，其特点是与自然和谐相处，以可持续和环保的方式利用有限的资源。此外，通过采用两阶段模型来确定最相关的螺旋线，我们发现政治法律制度螺旋线在促进企业致力于减少环境排放方面最为关键。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Business Ethics-A European Review Multiple-

CiteScore

5.90

自引率

0.00%

发文量

期刊介绍： -To offer rigorous and informed analysis of ethical issues and perspectives relevant to organizations and their relationships with society -To promote scholarly research and advance knowledge in relation to business ethics and corporate social responsibility and social entrepreneurship by providing cutting edge theoretical and empirical analysis of salient issues and developments -To be responsive to changing concerns and emerging issues in the business ethics and business and society sphere, and to seek to reflect these in the balance of contributions -To be the publication outlet of choice for all types of original research relating to business ethics and business-society relationships. Original articles are welcomed. Each issue will normally contain several major articles, and there will be an occasional FOCUS section which will contain articles on an issue of particular importance and topicality. Other regular features will include editorial interviews, book reviews, comments and responses to published articles, research notes and case studies. Business Ethics: A European Review is well established as an academic research journal which is at the same time readable, user-friendly and authoritative. It publishes both fully refereed scholarly papers and special contributions such as speeches and reviews. The range of contributions reflects the variety and scope of ethical issues faced by business and other organisations world-wide, and at the same time seeks to address the interests and concerns of the journals readership.