Emmanuel Senior Tenakwah, Emmanuel Junior Tenakwah, Michael Odei Erdiaw‐Kwasie, Elias Ikenna Asogwa
{"title":"The Greening of Industry: Navigating the Nexus of Environmental Policies and Regulations, and Emission Abatement Strategies","authors":"Emmanuel Senior Tenakwah, Emmanuel Junior Tenakwah, Michael Odei Erdiaw‐Kwasie, Elias Ikenna Asogwa","doi":"10.1002/bse.70152","DOIUrl":"https://doi.org/10.1002/bse.70152","url":null,"abstract":"Despite the prevailing discourses on the importance of environmental policy and regulation on emission control, related theoretical and empirical developments are lacking. Using institutional theory, we propose that environmental policy and regulation contribute to emission control by integrating environmental impact exposure into decision‐making processes. An empirical test of this theoretical framework was conducted using data from the World Bank Enterprise Survey on circular practices, which collected data from 18,734 firms. An analysis of emission control at the firm level indicates that environmental policy and regulation significantly influence emission control, and the degree of environmental exposure fully mediates their effects. This study presents a plausible theoretical account and empirical validation of a mechanism that enhances emission control strategies and decisions through environmental policy and regulation. It means that environmental policy and regulation do not solely affect the likelihood of carbon emissions from firms, but also the relationship is directly and indirectly influenced by the firm's environmental impact exposure.","PeriodicalId":9518,"journal":{"name":"Business Strategy and The Environment","volume":"28 1","pages":""},"PeriodicalIF":13.4,"publicationDate":"2025-08-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144905978","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Behavioral Insights for Managing Environmental Decisions: An Experimental Test of Prospect Theory","authors":"Nicola Belle, Paola Cantarelli, Veronica Cruciani","doi":"10.1002/bse.70159","DOIUrl":"https://doi.org/10.1002/bse.70159","url":null,"abstract":"This research integrates a behavioral management perspective with experimental methods to examine how public workers in an environmental protection agency form beliefs. Study 1 uses conjoint experiments to assess employee perceptions of companies violating (1a) or adhering to (1b) environmental regulations. While crime discovery probability and administrative burdens have consistent effects, the importance of economic gains versus losses reverses in negative versus positive frames, and social norms impact violations but not compliance. Study 2a shows employees' risk aversion with gains and risk‐seeking with losses. Study 2b reveals a zero‐risk bias, with many irrationally preferring full elimination in one area over greater overall reduction. We discuss theoretical implications and emphasize practical contributions. Specifically, monetary incentives and punishments, as well as social influences, appear effective in discouraging norm violations but not in encouraging compliance. To serve both ends, environmental agencies and their managers can rely on oversight and reductions in administrative burdens.","PeriodicalId":9518,"journal":{"name":"Business Strategy and The Environment","volume":"24 1","pages":""},"PeriodicalIF":13.4,"publicationDate":"2025-08-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144897882","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Green Revenue Generation and Sales Contribution: Are Consumers Willing to Bear the Cost of Sustainability?","authors":"Enayet Karim, Mahmoud Elmarzouky, Doaa Shohaieb","doi":"10.1002/bse.70146","DOIUrl":"https://doi.org/10.1002/bse.70146","url":null,"abstract":"This study examines the strategic implications of environmental activities on firm performance, specifically focusing on contribution per dollar sale and operational cost efficiency within US companies. Using a comprehensive dataset of 17,735 firm‐year observations from 2008 to 2023, we find that firms engaging in green revenue generation do not pass the associated costs on to consumers through higher prices, leading to a reduction in contribution per dollar sale. However, these firms enhance their operational cost efficiency to offset this impact and maintain profitability, underscoring the operational efficiencies gained from sustainability initiatives. To address potential endogeneity, we employ two‐stage least squares and difference‐in‐differences approaches. Our results indicate that the relationship between green revenue generation, cost efficiency and profitability remains robust regardless of regulatory pressures, indicating that sustainability efforts are embedded within broader strategic and operational practices. We also find that firms adjust marketing expenditures to absorb costs, illustrating a purposeful alignment of sustainability goals with competitive positioning. This study contributes to the strategic management literature by highlighting the role of environmental activities in shaping firm performance and operational strategy. We offer valuable insights for businesses, policymakers and standard setters seeking to balance sustainability with financial performance.","PeriodicalId":9518,"journal":{"name":"Business Strategy and The Environment","volume":"1 1","pages":""},"PeriodicalIF":13.4,"publicationDate":"2025-08-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144897883","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Ambisisi Ambituuni, Oluyomi A. Osobajo, Xebiso Blessing Kamudyariwa, Douglas A. Adu
{"title":"Project‐Based Enactment of Circular Economy (CE) Business Models: A Systematic Literature Review of the CE–Project Research Nexus","authors":"Ambisisi Ambituuni, Oluyomi A. Osobajo, Xebiso Blessing Kamudyariwa, Douglas A. Adu","doi":"10.1002/bse.70143","DOIUrl":"https://doi.org/10.1002/bse.70143","url":null,"abstract":"Projects are platforms for circular economy (<jats:sc>CE</jats:sc>) experimentation and innovation on the one hand, and <jats:sc>CE</jats:sc> can be integrated into projects to improve their sustainability performance on the other hand. This <jats:sc>CE</jats:sc>–project nexus is useful for scholars and practitioners to understand how projects can drive <jats:sc>CE</jats:sc> transition. However, research in the <jats:sc>CE</jats:sc>–project nexus is dispersed, and it is unclear how the <jats:sc>CE</jats:sc>–project research intersections are conceptualised in the literature. In this paper, we address this gap using a systematic literature review (SLR). We provide an analysis of the theoretical lenses useful in investigating the CE‐project nexus. We find four forms of <jats:sc>CE</jats:sc>–project nexuses, namely, <jats:sc>CE</jats:sc> in projects, <jats:sc>CE</jats:sc> by projects, <jats:sc>CE</jats:sc> for projects and <jats:sc>CE</jats:sc> through projects. We further present a framework for project‐based enactment of circular business models (CBMs) across micro, meso and macro <jats:sc>CE</jats:sc> levels and discuss the critical role of project professionals in overcoming <jats:sc>CE</jats:sc> implementation barriers. Theoretically, our work contributes to literature by presenting how scholars can theorise research in this domain to bridge the gap between the temporary, goal‐specific nature of projects and the systemic transformations required for <jats:sc>CE</jats:sc>.","PeriodicalId":9518,"journal":{"name":"Business Strategy and The Environment","volume":"178 1","pages":""},"PeriodicalIF":13.4,"publicationDate":"2025-08-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144897880","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Leonie Paul, Juha Väätänen, Hardik Bhimani, Anne‐Laure Mention
{"title":"Leading Regenerative Transformation: Cognitive Frame Characteristics Shaping Leaders' Approaches to Organizational Development","authors":"Leonie Paul, Juha Väätänen, Hardik Bhimani, Anne‐Laure Mention","doi":"10.1002/bse.70153","DOIUrl":"https://doi.org/10.1002/bse.70153","url":null,"abstract":"As the urgency to address global crises such as climate change and inequality intensifies, the concept of regenerative development has emerged as a transformative approach going beyond sustainability to actively restore and enhance both ecological and social systems. This study investigates what characterizes and informs the thoughts (and actions) of leaders advocating for regenerative development. Drawing on a qualitative analysis of 41 podcast interviews with 44 high‐level leaders from diverse organizations, the research reveals four key cognitive frame characteristics: biophilia, humility, integrity, and mutualism. These characteristics provide unique lenses through which regenerative leaders view their roles and responsibilities, emphasizing deep care for both nature and society. Our findings highlight the critical importance of leaders' cognitive development in driving the transformative change required for a sustainable and regenerative future and offer a structured tool for assessing these cognitive frames in practice.","PeriodicalId":9518,"journal":{"name":"Business Strategy and The Environment","volume":"22 1","pages":""},"PeriodicalIF":13.4,"publicationDate":"2025-08-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144897884","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Rodrigo Santos, Gonçalo Rodrigues Brás, Miguel Torres Preto
{"title":"Exploring Internal, Market and Institutional Dynamics That Drive Eco‐Innovation: Evidence From Portuguese Companies","authors":"Rodrigo Santos, Gonçalo Rodrigues Brás, Miguel Torres Preto","doi":"10.1002/bse.70149","DOIUrl":"https://doi.org/10.1002/bse.70149","url":null,"abstract":"This study examines the determinants of eco‐innovation adoption, drawing on data from 7083 firms in the 2014 Portuguese Community Innovation Survey. Although more recent waves of the survey reintroduced some questions related to environmental issues, the 2014 edition remains particularly valuable for its comprehensive coverage of eco‐innovation types and firm‐level characteristics relevant to this study. Using a hierarchical logistic regression, the analysis explores internal, market and institutional factors influencing eco‐innovation, including both intrafirm capabilities and end‐user–related dynamics. The results show that internal firm characteristics and market dynamics significantly influence eco‐innovation adoption, whereas institutional factors, such as subsidies and fiscal policies, exert comparatively limited effects. Moreover, the drivers of eco‐innovation within the firm align closely with those of overall eco‐innovation, underscoring the intrinsic nature of eco‐innovation processes. Nevertheless, challenges in leveraging end‐user consumption for eco‐innovation benefits highlight the need for targeted demand‐side interventions. These findings have critical implications for policymakers and businesses, advocating for revised policy frameworks and tailored strategies to foster eco‐innovation and sustainability.","PeriodicalId":9518,"journal":{"name":"Business Strategy and The Environment","volume":"82 1","pages":""},"PeriodicalIF":13.4,"publicationDate":"2025-08-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144901611","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Does Formalization Facilitate Environmental Improvements in the Artisanal and Small‐Scale Mining Sector?","authors":"Gavin Hilson, Abigail Hilson, Ekow Bartels","doi":"10.1002/bse.70145","DOIUrl":"https://doi.org/10.1002/bse.70145","url":null,"abstract":"This paper explores the link between formalization and environmental performance in the artisanal and small‐scale mining (ASM) sector, focusing on the case of sub‐Saharan Africa. The impression often conveyed by experts is that a commitment to formalizing ASM—that is, moves made to bring the sector's operations into the legal domain, where they can be regulated, monitored, and audited more closely by government officials—leads to environmental improvements at sites. In sub‐Saharan Africa, however, the relationship between formalization of ASM and environmental performance of the sector's operations is more nuanced than is often portrayed. Findings from research carried out in Ghana and Liberia, the locations of two dynamic ASM economies in sub‐Saharan Africa, are drawn upon to reinforce this point.","PeriodicalId":9518,"journal":{"name":"Business Strategy and The Environment","volume":"11 1","pages":""},"PeriodicalIF":13.4,"publicationDate":"2025-08-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144897881","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Ángela Triguero, Lourdes Moreno‐Mondéjar, David Córcoles
{"title":"The Importance of the Eco‐Innovation, Knowledge Network and the Geographical Dimension in the Adoption of Circular Economy Business Models","authors":"Ángela Triguero, Lourdes Moreno‐Mondéjar, David Córcoles","doi":"10.1002/bse.70158","DOIUrl":"https://doi.org/10.1002/bse.70158","url":null,"abstract":"Adopting circular economy (CE) business models is strategically complex due to the diversity and complementarity of CE practices across the value chain. This study examines how eco‐innovation, open innovation and geographical proximity condition the adoption of four CE practices—eco‐design, circular inputs, life cycle assessment (LCA) and end‐of‐life strategies—using survey data from 300 Spanish firms and a multivariate probit model. Our findings reveal that CE practices are interdependent, making it essential to identify which combinations are most effective under specific strategic conditions. Upstream practices such as eco‐design, circular inputs and LCA require strong eco‐innovation capabilities, while downstream practices benefit from broad external collaboration networks, highlighting the role of open innovation. Additionally, local geographical orientation is crucial for eco‐design and LCA, suggesting that proximity facilitates implementation. In contrast, international entrepreneurial orientation supports most CE practices except eco‐design. These insights guide firms in tailoring CE strategies and inform targeted policy interventions.","PeriodicalId":9518,"journal":{"name":"Business Strategy and The Environment","volume":"17 1","pages":""},"PeriodicalIF":13.4,"publicationDate":"2025-08-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144897886","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Reeju Guha, Tom Slabbers, Ioannis Fragkos, Emmanouil Avgerinos, Rob Zuidwijk
{"title":"The Effect of a Third‐Party Facilitator on Supply Chain Collaboration: Evidence From a Dutch Supply Chain Network","authors":"Reeju Guha, Tom Slabbers, Ioannis Fragkos, Emmanouil Avgerinos, Rob Zuidwijk","doi":"10.1002/bse.70124","DOIUrl":"https://doi.org/10.1002/bse.70124","url":null,"abstract":"Collaboration among supply chain actors leads to improved market access and reduced logistics costs. However, in practice, collaboration initiatives are challenging to implement due to barriers such as sharing sensitive information, coordination complexity, and lack of operational visibility. The impact of such barriers may be mitigated by a third‐party facilitator—an organization that facilitates coordination among actors and safeguards sensitive information. We assess the impact of such a facilitator on supply chain collaboration. We further investigate whether the facilitator can induce a positive second‐order effect on environmental impact and logistics costs through improved collaboration. We tested our hypotheses using survey interviews in member organizations of Connekt, a logistics facilitator. Our results suggest that the facilitator increases the number of collaborations, leading to a reduction in supply chain costs and a positive environmental impact. Lastly, we demonstrate that larger firms further improve collaborations, in the presence of the facilitator.","PeriodicalId":9518,"journal":{"name":"Business Strategy and The Environment","volume":"11 1","pages":""},"PeriodicalIF":13.4,"publicationDate":"2025-08-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144897911","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Giuliana Birindelli, Aline Miazza, Vera Palea, Mauro Aliano
{"title":"The Influence of External Contextual and Firm‐Specific Stakeholder Voices on Banks' Greenwashing: Effective Monitoring or an Incentive to Deceive?","authors":"Giuliana Birindelli, Aline Miazza, Vera Palea, Mauro Aliano","doi":"10.1002/bse.70151","DOIUrl":"https://doi.org/10.1002/bse.70151","url":null,"abstract":"This article investigates the role of external stakeholder “voices” in shaping banks' greenwashing behaviors. We categorize these voices into two groups: “contextual” voices, including regulations, a country's climate change performance, and public attention, and “firm‐specific” voices, represented by ESG (environmental, social, and governance) ratings and analyst coverage. The distinction between these categories lies in their scope: contextual voices affect industries and companies collectively, while firm‐specific voices pertain to individual firms. We apply a panel data analysis to a sample of 65 banks from the G20 Forum between 2015 and 2022, using a novel greenwashing indicator based on discrepancies between disclosure and action, where “action” is made up of environmental project lending, asset management, and investment strategies. Our findings reveal that a country's environmental performance and ESG ratings can help reduce greenwashing, with ESG ratings showing a moderate and significant negative association with greenwashing intensity, whereas environmental and legal frameworks may even encourage deceptive practices, likely due to inconsistencies arising from a fast‐evolving regulatory landscape and fragmented enforcement. Interestingly, while greater analyst coverage of a bank appears to increase the likelihood of greenwashing, public attention seems to have the opposite effect. This research contributes to understanding how external stakeholders can mitigate banks' greenwashing strategies and offers valuable insights for policymakers and regulators, suggesting that measures such as improving the quality of sustainability reporting standards and requiring third‐party verification of environmental claims can significantly strengthen banks' commitment to green initiatives and curb greenwashing.","PeriodicalId":9518,"journal":{"name":"Business Strategy and The Environment","volume":"146 1","pages":""},"PeriodicalIF":13.4,"publicationDate":"2025-08-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144897915","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}