Megi Gega, Julia Höhler, Jos Bijman, Alfons Oude Lansink
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引用次数: 0
Abstract
The environmental, social, and corporate governance (ESG) performance of European agri-food companies is crucial amidst sustainability challenges. Employing property rights and agency theory, we investigate the influence of firm ownership structure on ESG performance, and the mediating role of risk-taking and time horizon. A recursive system of equations is employed to test the model using data from 936 European firms. The findings indicate that investor-owned firms (IOFs) outperform family firms and cooperatives in terms of ESG performance. Family firms demonstrate a longer time horizon, while IOFs exhibit greater risk-taking. Risk-taking and time horizon are positively and negatively associated with ESG performance, respectively. However, we find no evidence of a mediation effect. This paper contributes to the agency and property rights literature by exploring the implications of ownership structure for other firm characteristics and ESG performance, and outlines implications for policymakers and managers in the development of focused interventions towards sustainability.
期刊介绍:
Corporate Social Responsibility and Environmental Management is a journal that publishes both theoretical and practical contributions related to the social and environmental responsibilities of businesses in the context of sustainable development. It covers a wide range of topics, including tools and practices associated with these responsibilities, case studies, and cross-country surveys of best practices. The journal aims to help organizations improve their performance and accountability in these areas.
The main focus of the journal is on research and practical advice for the development and assessment of social responsibility and environmental tools. It also features practical case studies and evaluates the strengths and weaknesses of different approaches to sustainability. The journal encourages the discussion and debate of sustainability issues and closely monitors the demands of various stakeholder groups. Corporate Social Responsibility and Environmental Management is a refereed journal, meaning that all contributions undergo a rigorous review process. It seeks high-quality contributions that appeal to a diverse audience from various disciplines.