Does board industry expertise foster ESG strategy? The mediating role of environmental innovation

IF 4.1 3区管理学 Q2 BUSINESS

Management Decision Pub Date : 2024-06-18 DOI:10.1108/md-10-2023-2009

Gaetano della Corte, Federica Ricci, Sara Saggese, Fabrizia Sarto

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Abstract

Purpose The study aims to empirically examine the effect of board industry expertise on environmental, social and governance (ESG) strategy, and the mediating role of environmental innovation.Design/methodology/approach Using an unbalanced sample of 341 publicly traded Italian non-financial firms and data collected from multiple sources over the period 2017–2021, this study applies single-mediator models via ordinary least squares regressions.Findings Results indicate that directors’ industry expertise improves the corporate orientation toward sustainability strategy that is reflected in ESG objectives. This effect is partly mediated by a greater level of environmental innovation.Practical implications The article suggests regulators to promote eco-innovation-friendly investment initiatives due to their value in advancing corporate sustainability strategies.Originality/value The research fills a gap in the literature that has never explored the effect of board industry expertise on sustainability-related outcomes. Moreover, it advances the debate on the implications of board human capital by assessing its influence on ESG strategy and environmental innovation.

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董事会的行业专长能否促进环境、社会和治理战略？环境创新的中介作用

研究目的本研究旨在实证检验董事会的行业专长对环境、社会和治理（ESG）战略的影响，以及环境创新的中介作用。研究结果研究结果表明，董事的行业专长提高了企业对可持续发展战略的定位，这体现在ESG目标中。文章建议监管机构促进有利于生态创新的投资举措，因为它们在推进企业可持续发展战略方面具有重要价值。原创性/价值该研究填补了文献中从未探讨过董事会行业专长对可持续发展相关结果影响的空白。此外，该研究还通过评估董事会人力资本对环境、社会和公司治理战略以及环境创新的影响，推动了有关董事会人力资本影响的讨论。

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来源期刊

Management Decision Multiple-

CiteScore

8.20

自引率

8.70%

发文量

126

期刊介绍： ■In-depth studies of major issues ■Operations management ■Financial management ■Motivation ■Entrepreneurship ■Problem solving and proactivity ■Serious management argument ■Strategy and policy issues ■Tactics for turning around company crises Management Decision, considered by many to be the best publication in its field, consistently offers thoughtful and provocative insights into current management practice. As such, its high calibre contributions from leading management philosophers and practitioners make it an invaluable resource in the aggressive and demanding trading climate of the Twenty-First Century.

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