{"title":"Innovation Responds to Climate Change Proposals","authors":"Greg Tindall, Rebel A. Cole, David Javakhadze","doi":"10.1007/s10551-024-05808-7","DOIUrl":null,"url":null,"abstract":"<p>Climate change is an ethical and moral challenge of a global scale due to its potentially catastrophic implications for human welfare. Understanding forces that drive corporate adaptation to climate change is an important research topic in business ethics. In this paper, we propose that shareholder climate-related proposals could be a catalyst for corporate innovations in technologies mitigating climate change. Our results, based on the analysis of US firms, indicate that corporations respond positively to these proposals by producing more climate-related patents and citations. We also uncover potential casual channels of influence. Further, we find that corporate governance moderates the documented effects. These proposals lead to a more efficient and valuable innovation output, but lower firm performance in the short term. The real effect that shareholder proposals have on innovation gains clarity in the context of climate change, contributing to the discussion of investor “voice.”</p>","PeriodicalId":15279,"journal":{"name":"Journal of Business Ethics","volume":"43 1","pages":""},"PeriodicalIF":5.9000,"publicationDate":"2024-09-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Journal of Business Ethics","FirstCategoryId":"91","ListUrlMain":"https://doi.org/10.1007/s10551-024-05808-7","RegionNum":1,"RegionCategory":"哲学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q1","JCRName":"BUSINESS","Score":null,"Total":0}
引用次数: 0
Abstract
Climate change is an ethical and moral challenge of a global scale due to its potentially catastrophic implications for human welfare. Understanding forces that drive corporate adaptation to climate change is an important research topic in business ethics. In this paper, we propose that shareholder climate-related proposals could be a catalyst for corporate innovations in technologies mitigating climate change. Our results, based on the analysis of US firms, indicate that corporations respond positively to these proposals by producing more climate-related patents and citations. We also uncover potential casual channels of influence. Further, we find that corporate governance moderates the documented effects. These proposals lead to a more efficient and valuable innovation output, but lower firm performance in the short term. The real effect that shareholder proposals have on innovation gains clarity in the context of climate change, contributing to the discussion of investor “voice.”
期刊介绍：
The Journal of Business Ethics publishes only original articles from a wide variety of methodological and disciplinary perspectives concerning ethical issues related to business that bring something new or unique to the discourse in their field. Since its initiation in 1980, the editors have encouraged the broadest possible scope. The term `business'' is understood in a wide sense to include all systems involved in the exchange of goods and services, while `ethics'' is circumscribed as all human action aimed at securing a good life. Systems of production, consumption, marketing, advertising, social and economic accounting, labour relations, public relations and organisational behaviour are analysed from a moral viewpoint. The style and level of dialogue involve all who are interested in business ethics - the business community, universities, government agencies and consumer groups. Speculative philosophy as well as reports of empirical research are welcomed. In order to promote a dialogue between the various interested groups as much as possible, papers are presented in a style relatively free of specialist jargon.
求助内容：
应助结果提醒方式：
京公网安备 11010802042870号
