The Strategic Role of Circular Economy Innovations and Stakeholder Engagement in Advancing Responsible Production and Consumption

IF 12.5 1区管理学 Q1 BUSINESS

Business Strategy and The Environment Pub Date : 2025-04-08 DOI:10.1002/bse.4267

Li KaoDui, Maxwell Kongkuah

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引用次数: 0

Abstract

As the urgency of global sustainability goals intensifies, achieving responsible production and consumption (RPC) has become a critical priority, especially in emerging markets where economic growth must be balanced with environmental stewardship. Businesses play a pivotal role in advancing sustainability, and understanding how governance practices influence RPC is essential for aligning corporate strategies with global objectives. This study investigates how circular economy innovations and stakeholder engagement moderate the link between indigenous directors and RPC. Using secondary data from 439 manufacturing firms across MENA countries between 2012 and 2022, we employed the method of moments quantile regression (MMQR) and fixed effects estimations, addressing endogeneity through GMM modeling and propensity score matching techniques. Our findings demonstrate that indigenous directors significantly enhance RPC across all quantiles. Additionally, circular economy innovations not only advance RPC but also amplify the positive effects of indigenous directors on sustainable practices. Stakeholder engagement further strengthens this relationship, particularly in higher quantiles, underscoring the importance of inclusive governance for achieving sustainability goals. These insights provide actionable implications for business leaders and policymakers, particularly in the MENA region, by emphasizing the strategic integration of Indigenous leadership and circular economy innovations into corporate governance. This study offers a framework for aligning business strategies with global sustainability objectives, notably SDG 12 while also contributing to the literature on strategic management and sustainability. By highlighting the role of Indigenous leadership in driving sustainable practices, this research provides valuable guidance for firms and policymakers seeking to advance environmental sustainability in emerging market economies.

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循环经济创新和利益相关者参与在促进负责任生产和消费中的战略作用

随着全球可持续发展目标的紧迫性加剧，实现负责任的生产和消费（RPC）已成为一个关键的优先事项，特别是在经济增长必须与环境管理相平衡的新兴市场。企业在推进可持续性方面发挥着关键作用，了解治理实践如何影响RPC对于将企业战略与全球目标结合起来至关重要。本研究探讨循环经济创新和利益相关者参与如何调节本土董事与RPC之间的联系。利用2012年至2022年中东和北非地区439家制造业企业的二手数据，我们采用矩分位数回归（MMQR）和固定效应估计方法，通过GMM建模和倾向得分匹配技术解决内生性问题。我们的研究结果表明，本土董事在所有分位数上都显著提高了RPC。此外，循环经济创新不仅推动了RPC，而且扩大了本土董事对可持续实践的积极影响。利益相关者的参与进一步加强了这种关系，特别是在较高的分位数，强调了包容性治理对实现可持续发展目标的重要性。这些见解通过强调将土著领导和循环经济创新战略整合到公司治理中，为商业领袖和政策制定者提供了可行的启示，特别是在中东和北非地区。本研究为企业战略与全球可持续发展目标（特别是可持续发展目标12）保持一致提供了一个框架，同时也为战略管理和可持续发展方面的文献做出了贡献。通过强调土著领导在推动可持续实践中的作用，本研究为寻求促进新兴市场经济体环境可持续性的公司和政策制定者提供了有价值的指导。

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 Strategy and The Environment Multiple-

CiteScore

22.50

自引率

19.40%

发文量

336

期刊介绍： Business Strategy and the Environment (BSE) is a leading academic journal focused on business strategies for improving the natural environment. It publishes peer-reviewed research on various topics such as systems and standards, environmental performance, disclosure, eco-innovation, corporate environmental management tools, organizations and management, supply chains, circular economy, governance, green finance, industry sectors, and responses to climate change and other contemporary environmental issues. The journal aims to provide original contributions that enhance the understanding of sustainability in business. Its target audience includes academics, practitioners, business managers, and consultants. However, BSE does not accept papers on corporate social responsibility (CSR), as this topic is covered by its sibling journal Corporate Social Responsibility and Environmental Management. The journal is indexed in several databases and collections such as ABI/INFORM Collection, Agricultural & Environmental Science Database, BIOBASE, Emerald Management Reviews, GeoArchive, Environment Index, GEOBASE, INSPEC, Technology Collection, and Web of Science.