{"title":"ESG Performance and Green Innovation Nexus: Insights From Indian Manufacturing Titans","authors":"Mithilesh Gidage, Shilpa Bhide","doi":"10.1002/bse.70041","DOIUrl":"https://doi.org/10.1002/bse.70041","url":null,"abstract":"The existing literature highlights the influence of green intellectual capital (GIC), green finance (GF), and green innovation (GI) on firms' environmental performance; however, significant gaps persist regarding their impact on ESG performance. To address this gap, our study delves into the intricate interplay between GIC, GF, GI, and ESG performance. In this study, we posit that the interplay among GIC, GF, GI, and ESG performance is more complex than traditionally acknowledged. Contrary to previous assumptions, we posit that GIC and GF do not directly correlate with ESG performance. Instead, we propose that GI acts as a mediator between GIC, GF, and ESG performance. Moreover, we argue that ESG strategies not only directly affect ESG performance but also moderate the relationship between GI and ESG outcomes. To substantiate our assertions, we employ structural equation modeling using data collected from senior decision‐makers in 77 Indian manufacturing firms listed on the NIFTY India Manufacturing Index. Our empirical findings provide robust support for most hypotheses, shedding light on the nuanced dynamics within the realm of ESG performance.","PeriodicalId":9518,"journal":{"name":"Business Strategy and The Environment","volume":"147 1","pages":""},"PeriodicalIF":13.4,"publicationDate":"2025-06-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144479012","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}
Hassan Rahnama Haratbar, Peter T. L. Popkowski Leszczyc, Claudia Gonzalez‐Arcos
{"title":"The Effect of Self‐Concept Components on Sustainable Food Choice","authors":"Hassan Rahnama Haratbar, Peter T. L. Popkowski Leszczyc, Claudia Gonzalez‐Arcos","doi":"10.1002/bse.70034","DOIUrl":"https://doi.org/10.1002/bse.70034","url":null,"abstract":"Despite the growing global adoption of sustainable food consumption, the role of self‐concept (including self‐esteem, self‐image, and ideal self) and mindset (beliefs about personal growth and adaptability) in shaping these choices remains underexplored. This study addresses this gap through an online survey of consumers of sustainable foods. Our findings reveal that self‐concept, specifically self‐esteem, environmental self‐image, and environment‐oriented ideal self, significantly influence sustainable food choices. Additionally, individuals with a growth mindset, who believe in adaptability and personal development, are more likely to engage in eco‐friendly consumption. In contrast, this relationship is not evident among those with a fixed mindset. By integrating self‐concept and mindset, this study provides a more nuanced perspective on sustainable consumption behavior. The paper concludes with actionable strategies to foster consumer engagement and promote the adoption of sustainable foods.","PeriodicalId":9518,"journal":{"name":"Business Strategy and The Environment","volume":"245 1","pages":""},"PeriodicalIF":13.4,"publicationDate":"2025-06-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144341046","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}
Christine Reitmaier, Wolfgang Schultze, Ramona Paul, Jennifer Weißinger
{"title":"Does It Pay to Be Green? A Total Quality Perspective","authors":"Christine Reitmaier, Wolfgang Schultze, Ramona Paul, Jennifer Weißinger","doi":"10.1002/bse.70019","DOIUrl":"https://doi.org/10.1002/bse.70019","url":null,"abstract":"The question of whether, when, and how efforts for better corporate environmental performance (CEP) improve corporate financial performance (CFP) remains controversial. We revisit this question from a total quality perspective, which unites previous research and highlights interdependencies between mediators of the CEP–CFP relationship. Total quality comprises internal process and product quality as well as stakeholders' perceptions. We use structural equation modeling in a German survey dataset and analyze two sample periods with different regulations and stakeholder expectations on CEP (2005–2010 and 2017–2022). For both samples, we find that better CEP leads to significantly better internal and external quality and also increased costs. For the early period, the improvements translate into higher revenues via external quality. For the more recent period, the improvements decrease costs via process quality. In both samples, we find a neutral effect on net CFP, implying that the documented cost or revenue benefits of green investments are counterbalanced by the associated additional costs.","PeriodicalId":9518,"journal":{"name":"Business Strategy and The Environment","volume":"269 1","pages":""},"PeriodicalIF":13.4,"publicationDate":"2025-06-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144341050","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":"The Impact of Economic Policy Uncertainty and ESG Reporting on Financial Performance of Hospitality Companies","authors":"Samta Jain, Aditya Banerjee","doi":"10.1002/bse.70042","DOIUrl":"https://doi.org/10.1002/bse.70042","url":null,"abstract":"The objectives of this paper are manifold: first, to explore the relationship between economic policy uncertainty (EPU) and the financial performance of hospitality companies (hotels and entertainment), and second, to assess how this relationship is shaped by environmental, social and governance (ESG) reporting. Drawing on a comprehensive international dataset from 14 developed countries spanning 2013 to 2022, the study contributes to the emerging literature on ESG and EPU by analysing how ESG factors influence the link between EPU and corporate financial performance through dynamic panel data regression. Findings of the study indicate that the policy‐related uncertainty has a detrimental impact on the financial performance of hospitality companies. Furthermore, this relationship is not restricted to the current financial performance only; in fact, the detrimental impact of policy‐related uncertainty sustains at 1‐year lagged level, thereby affecting negatively the subsequent year's financial performance. Interestingly, companies with high scores in overall ESG, as well as in individual environmental or governance dimensions, do not perform better during periods of heightened uncertainty compared to those with lower sustainability scores. However, firms with socially solid performance manage to navigate rising business uncertainty more effectively, implying that hospitality firms should value their employees and create an environment of inclusivity and growth for them to succeed.","PeriodicalId":9518,"journal":{"name":"Business Strategy and The Environment","volume":"49 1","pages":""},"PeriodicalIF":13.4,"publicationDate":"2025-06-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144341047","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}
Niccolò Maria Todaro, Gianluca Gionfriddo, Owais Ur Rehman Khan, Tiberio Daddi
{"title":"Enablers and Constraints of Environmental Sustainability Integration: A Structuration Perspective on Professional Sports Organizations","authors":"Niccolò Maria Todaro, Gianluca Gionfriddo, Owais Ur Rehman Khan, Tiberio Daddi","doi":"10.1002/bse.70035","DOIUrl":"https://doi.org/10.1002/bse.70035","url":null,"abstract":"Integrating environmental sustainability (ES) into organizational strategies and operations remains a persistent challenge, particularly in fields where environmental concerns are not yet embedded within dominant institutional norms and standards of behavior. In such contexts, ES risks being overshadowed by economic and operational priorities, hindering meaningful organizational change toward sustainability. This study addresses this challenge by examining how ES is integrated within organizations operating in a field where it is still in the early stages of institutionalization—namely, the European football sector. Drawing on structuration theory, the research applies the notions of signification, legitimation, and domination as sensitizing devices to explore factors that enable or constrain organizations in gradually altering societal structures to embed environmental concerns into strategies and operations. Methodologically, the study draws on a multiple case study of four National Football Associations operating in Europe. By focusing on the football sector, the study contributes to a deeper understanding of how organizations respond to institutional pressures for ES in the absence of fully established norms, exercising agency to shape meanings, transform expectations of behavior, and mobilize power and resources to drive organizational change toward sustainability.","PeriodicalId":9518,"journal":{"name":"Business Strategy and The Environment","volume":"38 1","pages":""},"PeriodicalIF":13.4,"publicationDate":"2025-06-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144341051","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":"“Soft” Climate Change Exposure and Firm Performance Across Countries: Legitimacy Theory Perspective","authors":"Naimat U. Khan, Mushtaq Hussain Khan","doi":"10.1002/bse.70029","DOIUrl":"https://doi.org/10.1002/bse.70029","url":null,"abstract":"This paper examines the impact of a firm‐level ‘soft’ measure of climate change exposure on the performance of 6228 companies across 40 countries (2001–2021) using legitimacy theory. We find that the relationship between climate change and performance is contingent upon industry and the content of climate change exposure (opportunities, regulatory, and physical). Industry‐level analysis reveals that the top 10 high‐exposure industries generally experience negative performance impacts, whereas the bottom 10 low‐exposure industries exhibit positive effects. In terms of content, physical exposure positively affects performance, regulatory exposure negatively impacts performance, and opportunity exposure shows an insignificant positive effect. Climate change thus presents industry‐ and content‐specific risks and opportunities, highlighting the need for targeted policy incentives to encourage genuine climate‐related investments. Theoretically, climate exposure conveys either symbolic legitimacy (tokenism without real impact) or substantive legitimacy (genuine, tangible effects), depending on industry context and the nature of exposure.","PeriodicalId":9518,"journal":{"name":"Business Strategy and The Environment","volume":"333 1","pages":""},"PeriodicalIF":13.4,"publicationDate":"2025-06-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144328604","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}
Sven Wunder, Cecilia Fraccaroli, Joseph W. Bull, Trishna Dutta, Alison Eyres, Megan C. Evans, Bo Jellesmark Thorsen, Julia P. G. Jones, Martine Maron, Bart Muys, Andrea Pacheco, Asger Strange Olesen, Thomas Swinfield, Yitagesu Tekle Tegegne, Thomas B. White, Han Zhang, Sophus O. S. E. zu Ermgassen
{"title":"Biodiversity Credits: An Overview of the Current State, Future Opportunities, and Potential Pitfalls","authors":"Sven Wunder, Cecilia Fraccaroli, Joseph W. Bull, Trishna Dutta, Alison Eyres, Megan C. Evans, Bo Jellesmark Thorsen, Julia P. G. Jones, Martine Maron, Bart Muys, Andrea Pacheco, Asger Strange Olesen, Thomas Swinfield, Yitagesu Tekle Tegegne, Thomas B. White, Han Zhang, Sophus O. S. E. zu Ermgassen","doi":"10.1002/bse.70018","DOIUrl":"https://doi.org/10.1002/bse.70018","url":null,"abstract":"Biodiversity credits are an emerging vehicle for pro‐environmental financing, yet much uncertainty remains around how and when they could boost biodiversity conservation. Here we define what biodiversity credits are and explore impact pathways through a proposed theory of change. Based on evidence from 34 pilot projects and a review of lessons from related market‐based incentives for conservation, we further explore potential opportunities and pitfalls, including future supply and demand, bundling/stacking options, and needed social safeguards. We explore how biodiversity credits can better tackle challenges linked to additionality, permanence, leakage, and commensurability. While new monitoring technologies can help quantify biodiversity, trade‐offs exist between simple metrics enabling liquid markets and costlier ones more adequately representing biodiversity. To avoid past mistakes, sound credit design and implementation require more robust crediting baselines, standards, governance, and impact evaluation. Quality credits will be more expensive than those cutting integrity corners, which may dampen the expected biodiversity credit boom.","PeriodicalId":9518,"journal":{"name":"Business Strategy and The Environment","volume":"21 1","pages":""},"PeriodicalIF":13.4,"publicationDate":"2025-06-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144311528","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":"How Companies Move to Circularity: Internal Reorganizing and Adjustment of External Collaboration","authors":"Alexander Fliaster, Karolina Bähr","doi":"10.1002/bse.4347","DOIUrl":"https://doi.org/10.1002/bse.4347","url":null,"abstract":"Firms in various industries strive to narrow, slow down, and close resource flows, moving toward a circular economy (<jats:sc>CE</jats:sc>). We theorize that the transformation of established companies toward <jats:sc>CE</jats:sc> includes two critical interconnected dimensions—adjustment of external collaboration relationships and internal reorganization. We conducted a qualitative study in the plastics industry to explore them empirically. Our analysis indicates that established firms adapt their external collaborations in four ways: companies modify the criteria of partner selection and the strength of dyadic relationships, add new partners and roles in the value chain, and consolidate the external collaboration network. These collaboration adjustments are accompanied by three key facets of internal transformation—reorganization of permanent and temporary organizational structures and processes. Finally, our study provides new insights into the interplay of the intra‐ and interorganizational dimensions of the shift toward the <jats:sc>CE</jats:sc>.","PeriodicalId":9518,"journal":{"name":"Business Strategy and The Environment","volume":"145 1","pages":""},"PeriodicalIF":13.4,"publicationDate":"2025-06-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144311532","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}
Mariana Trujillo‐Gallego, William Ariel Sarache Castro, Miguel Sellitto
{"title":"Unlocking Sustainability: A Hierarchical Approach to Environmental Dynamic Capabilities in Supply Chain Transformation","authors":"Mariana Trujillo‐Gallego, William Ariel Sarache Castro, Miguel Sellitto","doi":"10.1002/bse.70026","DOIUrl":"https://doi.org/10.1002/bse.70026","url":null,"abstract":"This study addresses the challenges posed by globalization, sustainability, and rapid technological change, which increase the complexity and dynamism of the business environment. To tackle these challenges, companies must transition from traditional, static approaches to a more systemic, integrated, and dynamic perspective. Achieving sustainable supply chains requires integrating environmental innovations and dynamic capabilities within the green supply chain management (GSCM) framework. This research proposes and empirically validates a hierarchy of environmental dynamic capabilities based on the dynamic capability view (DCV) and GSCM approaches. Furthermore, it examines the contingency effects of firm size, age, and export orientation using contingent theory (CT). The theoretical model underwent testing through a survey involving 261 individuals in Colombia's manufacturing industry. The findings confirm the existence of a hierarchy of environmental dynamic capabilities, where high‐order capabilities influence the creation, transformation, and reconfiguration of lower order capabilities to address environmental protection and sustainability challenges. Additionally, only firm size was found to positively moderate the development of environmental dynamic capabilities. This study makes a significant contribution by being the first to propose and empirically validate a hierarchical model of environmental dynamic capabilities. The findings provide valuable insights for managers to refine sustainability strategies, improve forecasting, and manage risks. The study highlights the importance of synergy between higher order capabilities in achieving sustainability in supply chains rather than relying on independent efforts. The proposed hierarchy serves as a framework for policymakers to make informed decisions, focus critical investments, and promote interorganizational and interindustrial relationships for a smoother sustainable transition.","PeriodicalId":9518,"journal":{"name":"Business Strategy and The Environment","volume":"100 1","pages":""},"PeriodicalIF":13.4,"publicationDate":"2025-06-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144319711","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}
Shirley‐Ann Augustin‐Behravesh, Ana Maria Gomez‐Trujillo, Geovanny Perdomo‐Charry, Mira Kartika Dewi Djunaedi, Ardvin Kester S. Ong
{"title":"Sustainability Strategies and Corporate Legitimacy: Analyzing Firm Performance Through Green Innovation and Technological Turbulence","authors":"Shirley‐Ann Augustin‐Behravesh, Ana Maria Gomez‐Trujillo, Geovanny Perdomo‐Charry, Mira Kartika Dewi Djunaedi, Ardvin Kester S. Ong","doi":"10.1002/bse.70040","DOIUrl":"https://doi.org/10.1002/bse.70040","url":null,"abstract":"In today's dynamic environment, stakeholders are increasingly scrutinizing companies' social and environmental roles, pushing them to improve their sustainability practices. This systematic literature review examines the interplay between sustainability strategy, corporate legitimacy, and firm performance, with a focus on green innovation and technological turbulence. The “Six W” methodology (what, when, who, where, how, and why) was applied to analyze 104 articles from the Web of Science Core Collection. The study highlights the need for a broader research focus, integrated methodological approaches, the development of integrated frameworks, and the examination of multifaceted relationships. These findings are essential for understanding how the integration of sustainability can enhance corporate legitimacy and performance, particularly in emerging markets.","PeriodicalId":9518,"journal":{"name":"Business Strategy and The Environment","volume":"232 1","pages":""},"PeriodicalIF":13.4,"publicationDate":"2025-06-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144311539","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}