Tomas Balezentis, Dalia Streimikiene, Zhiyang Shen
{"title":"Measures for Energy Efficiency and Shadow Pricing in the Manufacturing Sector of EU Countries","authors":"Tomas Balezentis, Dalia Streimikiene, Zhiyang Shen","doi":"10.1002/bse.4271","DOIUrl":"https://doi.org/10.1002/bse.4271","url":null,"abstract":"The manufacturing sector is important for the rest of the economy. However, this sector is also an energy‐intensive one and subject to policies of climate change mitigation. The European Union (EU) has embarked on sustainability and competitiveness policies that require increasing the environmental performance of the economy. This paper focuses on the environmental performance of the manufacturing sector of the EU. A nonparametric tool for assessing the effectiveness of climate change mitigation measures in the manufacturing sector is developed. This paper employs a relatively novel by‐production model with constraints ensuring a proper linkage between economic and environmental subtechnologies. This paper applies the shadow carbon price approach to assessing the costs of energy‐related GHG emission reduction in the manufacturing sector of EU countries. This allows one to compare and define the most efficient climate change mitigation policies in the manufacturing sector of EU countries. The results suggest that the variation in the carbon shadow price across EU countries remains substantial. The highest shadow prices are noted for Slovakia, Hungary, Latvia, and Estonia, indicating that further abatement of the carbon dioxide emission there would invoke relatively high costs.","PeriodicalId":9518,"journal":{"name":"Business Strategy and The Environment","volume":"50 1","pages":""},"PeriodicalIF":13.4,"publicationDate":"2025-04-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143757776","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":"From Attitude to Action: A Moderated Mediation Model for the Engagement of Green Attitude, Green Impulse Buying, and Consumer Citizenship Behavior","authors":"Khizar Hayat, Qingyu Zhang, Maria Jose Sousa","doi":"10.1002/bse.4268","DOIUrl":"https://doi.org/10.1002/bse.4268","url":null,"abstract":"The escalating concerns surrounding global climate change and environmental degradation, alongside a growing emphasis on societal well‐being, have encouraged consumers to adopt environmentally conscious shopping practices. This study aims to investigate the mechanisms through which pro‐environmental attitudes influence sustainable consumption behaviors by examining the interplay among green attitudes, impulse buying tendency (IBT), and consumer citizenship behavior (CCB). Specifically, the study explores the mediating role of IBT in connecting green attitudes to green buying impulsively and the moderating effects of climate change concerns, social media usage, and hedonic motives. The findings reveal that green attitudes significantly influence IBT and green buying impulsively, with IBT acting as a mediator. Furthermore, climate change concerns, social media usage, and hedonic motives significantly moderate the proposed relationships, transforming sustainable consumption patterns (e.g., green buying impulsively and intention to continue) and CCB. This study contributes to the literature by identifying the psychological and social drivers of green consumption behaviors and their interactions with environmental concerns. It offers actionable insights for policymakers and businesses to develop targeted strategies that encourage pro‐environmental behaviors, fostering a more sustainable and environmentally conscious consumer landscape.","PeriodicalId":9518,"journal":{"name":"Business Strategy and The Environment","volume":"16 1","pages":""},"PeriodicalIF":13.4,"publicationDate":"2025-04-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143745067","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":"Regional Environmental Protection Investments, Cluster Ecosystems, and Firm Innovation: Evidence From Germany","authors":"Yama Temouri, Ha‐Phuong Luong, Vijay Pereira, Hussain Rammal","doi":"10.1002/bse.4270","DOIUrl":"https://doi.org/10.1002/bse.4270","url":null,"abstract":"This paper presents an exploration of how regional environmental protection investments (EPIs) and cluster ecosystems affect the innovation performance of research and development (R&D) firms versus non‐R&D firms across regions in Germany. We develop a conceptual framework to elucidate the relationship between regional EPIs, cluster ecosystems, R&D decisions, and innovation performance of firms. We test this framework by employing ordinary least squares (OLS) and fixed effect regressions to analyze a unique sample of panel data from ORBIS and DESTATIS for the period 2009–2017. We find that in regions in which there are higher EPIs, R&D firms outperform their non‐R&D counterparts in terms of intangible assets formation. We also find that the relationship between cluster ecosystem and firm innovation performance is contingent on firm R&D engagement and specific types of regional EPIs. Additional insights reveal that there are spillover effects on firm innovation performance for non‐R&D firms belonging to business clusters and at the same time, in proximity to geographical areas that are populated by higher numbers of other cluster constituents. The results of this study contribute to our nascent understanding of innovation ecosystems and hold important implications for policymakers in terms of how to formulate effective environmental policies to promote firm innovation.","PeriodicalId":9518,"journal":{"name":"Business Strategy and The Environment","volume":"18 1","pages":""},"PeriodicalIF":13.4,"publicationDate":"2025-03-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143736609","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":"AI‐Powered Sustainable Tourism: Unlocking Circular Economies and Overcoming Resistance to Change","authors":"Hwang Bang‐Ning, Siriprapha Jitanugoon, Pittinun Puntha","doi":"10.1002/bse.4276","DOIUrl":"https://doi.org/10.1002/bse.4276","url":null,"abstract":"This study examines the integration of artificial intelligence (AI) with circular economy (CE) principles in Thailand's tourism industry. It explores the interactions between AI‐Enhanced Predictive Waste Analytics (AI‐PWA), Regenerative Resource Integration (RRI), Dynamic Material Flow Optimization (DMFO), and AI‐Induced Resistance to Change (AIRC). Using a mixed‐methods approach, qualitative insights from industry stakeholders are combined with quantitative analysis via Partial Least Squares Structural Equation Modeling (PLS‐SEM). Findings reveal that AI‐PWA improves real‐time resource management, driving DMFO and supporting regenerative practices through RRI. However, AIRC moderates AI's effectiveness in sustainability transitions, with concerns such as job displacement, mistrust, and complexity hindering adoption. This study provides actionable strategies to mitigate resistance, enhance stakeholder collaboration, and scale AI adoption in resource‐constrained settings, contributing to SDG 12 and SDG 13. The findings offer practical insights for aligning AI innovations with sustainable development in high‐variability industries.","PeriodicalId":9518,"journal":{"name":"Business Strategy and The Environment","volume":"36 1","pages":""},"PeriodicalIF":13.4,"publicationDate":"2025-03-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143736638","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}
Marcel Seefloth, Florian Siedler, Christoph Kayser, Benedikt T. Retsch, Henning Zülch
{"title":"Sustainability Performance and Its Impact on Financial Distress Risk—Evidence From STOXX Europe 600","authors":"Marcel Seefloth, Florian Siedler, Christoph Kayser, Benedikt T. Retsch, Henning Zülch","doi":"10.1002/bse.4263","DOIUrl":"https://doi.org/10.1002/bse.4263","url":null,"abstract":"Sustainability performance (SP) has emerged as a central topic on both corporate and political agendas worldwide. This study investigated the relationship between SP and financial distress risk (FDR) among European listed firms, addressing the growing importance of SP in financial decision‐making. Utilising a panel dataset from LSEG Data & Analytics (formerly Refinitiv) for STOXX Europe 600 firms between 2016 and 2022, we performed regression analyses to examine the impact of SP on FDR, measured through alternating scores. In contrast to most existing research, we found SP to increase FDR for most analyses performed, with the effect varying by SP dimension. Because we found environmental and governance SP to increase FDR, we did not find an association between social SP and FDR in most analyses performed. Our findings provide practical and theoretical implications for firms, investors and policymakers concerning the influence of SP investments on FDR and potential SP overinvestments in Europe's latest sustainability regulatory setting.","PeriodicalId":9518,"journal":{"name":"Business Strategy and The Environment","volume":"31 1","pages":""},"PeriodicalIF":13.4,"publicationDate":"2025-03-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143736640","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":"New Solutions for Old Problems: Exploring Business Model Innovation in Food Sharing Platforms","authors":"Cecilia Grieco, Alberto Morgante","doi":"10.1002/bse.4265","DOIUrl":"https://doi.org/10.1002/bse.4265","url":null,"abstract":"Food insecurity and food waste are among the main contemporary global challenges facing us. Although problematic for societies over a long period, their greater prominence in the post‐pandemic scenario makes the need to find appropriate solutions, at both supply and consumption levels, increasingly urgent. Thus, while not new, there has been a recent surge of interest in these phenomena due to the global crisis of the last decades, policy shifts in international governance, and a greater awareness of the long‐term effects of technological and environmental trends. In this scenario, the emergence of food sharing platforms (FSPs) becomes an innovative solution in bringing about the efficient redistribution of surplus food, promising not only to mitigate food waste but also support those needing access to food resources. Despite their strategic importance, the ways these organizations innovate their business model (BM) has found scant attention in the literature. The purpose of this paper is to reveal the patterns and pathways of business model innovation (BMI) in FSP, shedding light on the main operational dynamics and innovation strategies applied by these platforms. To this end, the paper conducts a multiple case study analysis of six distinct FSPs, through semi‐structured interviews and extensive online research. The findings contribute to advancing the field of research into BMI and FSPs, filling the gap in studies on the topic. Moreover, from a managerial perspective, the research provides practitioners with knowledge about the best BMI practices in their industry, revealing different strategies to strengthen the role of FSPs in fostering sustainable consumption practices and in promoting social welfare.","PeriodicalId":9518,"journal":{"name":"Business Strategy and The Environment","volume":"58 13 1","pages":""},"PeriodicalIF":13.4,"publicationDate":"2025-03-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143736636","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":"Sustainability Orientation, Sustainability Implementation, and Brand Image in Service Firms","authors":"Sandeep Jagani, Vafa Saboori‐Deilami","doi":"10.1002/bse.4273","DOIUrl":"https://doi.org/10.1002/bse.4273","url":null,"abstract":"This paper uses legitimacy theory and cognitive dissonance theory to explore the relationship between sustainability orientation, sustainability implementation, and brand image in the service sector. Specifically, we examine the mediating role of implementation—the translation of strategic intent into actionable practices—on customers' perceptions. Using multilevel analyses of 31 US service firms and a survey of 6891 customers, we find that sustainability implementation is a strong positive predictor of brand image. However, sustainability orientation alone has a negative direct effect on brand image, suggesting that stated commitments without corresponding action can harm perceptions. Crucially, sustainability implementation positively mediates the relationship between orientation and brand image. This research addresses a key gap in the literature by demonstrating that, in the service sector, genuine action, not just communication of intent, is essential for building a sustainable brand. From a practical standpoint, the findings highlight that strategic intent toward sustainability, while necessary, is insufficient. To avoid greenwashing perceptions, firms must couple their sustainability orientation with effective and visible implementation of environmental and social initiatives.","PeriodicalId":9518,"journal":{"name":"Business Strategy and The Environment","volume":"100 1","pages":""},"PeriodicalIF":13.4,"publicationDate":"2025-03-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143734101","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":"Unveiling the Relationship Between ESG and Growth of Unlisted Firms: Empirical Insights From Eastern Europe and Central Asia","authors":"Nosheen Rasool, Murugesh Arunachalam, Nirosha Hewa Wellalage, Vijay Kumar","doi":"10.1002/bse.4257","DOIUrl":"https://doi.org/10.1002/bse.4257","url":null,"abstract":"This study aims to uncover the empirical relationship between environmental, social and governance (ESG) factors and the growth of 19,956 unlisted firms in the East Europe and Central Asia (EECA) region. While the existing literature focuses on ESG performance in listed firms, there is a gap in understanding the growth dynamics of unlisted firms in EECA, which face challenges in implementing ESG initiatives due to resource constraints as the prime cause. The ESG index is constructed using principal component analysis (PCA), and growth is assessed through the variables of sales growth (SG), employment growth (EG) and asset growth (AG). To address endogeneity in the ESG–growth relationship, a two‐stage least squares (2SLS) estimator is employed, using instrumental variables. The results show a positive and significant relationship between ESG and growth indicators, emphasising the importance of sustainable practices for positive stakeholder relationships, enhanced reputation and long‐term growth. This research offers unique insights into the ESG–growth connection for unlisted firms in EECA, benefiting stakeholders by divulging employment opportunities in society and amplifying sales and asset growth.","PeriodicalId":9518,"journal":{"name":"Business Strategy and The Environment","volume":"59 1","pages":""},"PeriodicalIF":13.4,"publicationDate":"2025-03-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143734064","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}
Mehmet Levent Erdas, Abdullah Emre Caglar, Emmanuel Uche, Zahoor Ahmed
{"title":"Future Pathways for Net Zero Emission: Analyzing the Nexus of Entrepreneurship and Ecological Sustainability Development in Developed Economies","authors":"Mehmet Levent Erdas, Abdullah Emre Caglar, Emmanuel Uche, Zahoor Ahmed","doi":"10.1002/bse.4264","DOIUrl":"https://doi.org/10.1002/bse.4264","url":null,"abstract":"This study aims to investigate the impact of entrepreneurship and green investments on environmental sustainability within the scope of Sustainable Development Goals for developed economies. The study conducts an in‐depth analysis from 2001 to 2022 and reveals the possible effects of increases and decreases in entrepreneurship. Based on the results of the empirical analysis, an asymmetric relationship between entrepreneurship and environmental sustainability has been determined in the short and long run. Although decreases in entrepreneurial activities cause a reduction in environmental quality, increases in entrepreneurial activities contribute to environmental sustainability. Increases in green investments provide improvements in environmental quality. These results show that entrepreneurial activities and green investments significantly impact environmental sustainability in developed economies. Based on these results, this study recommends that policymakers in developed countries incentivize green investments, foster the growth of sustainable entrepreneurial ventures, and implement policies that assess and enhance the environmental sustainability of entrepreneurial activities.","PeriodicalId":9518,"journal":{"name":"Business Strategy and The Environment","volume":"16 1","pages":""},"PeriodicalIF":13.4,"publicationDate":"2025-03-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143713091","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}
Giuseppe Maria Bifulco, Carlo Caserio, Francesca di Donato, Sara Trucco
{"title":"Does Sustainable Performance Matter for Nonfinancial Disclosure Readability? A Fog Index Analysis on Italian‐Listed Companies","authors":"Giuseppe Maria Bifulco, Carlo Caserio, Francesca di Donato, Sara Trucco","doi":"10.1002/bse.4261","DOIUrl":"https://doi.org/10.1002/bse.4261","url":null,"abstract":"This study aims to shed light on how corporate sustainable performance can influence the degree of nonfinancial disclosure (NFD) readability, determining which pillar of environmental, social and governance (ESG) performance has the most significant impact. To address these research questions, the study was conducted on a sample of Italian companies listed between 2017 and 2022, following the introduction of Directive 2014/95/EU. Using a panel regression, we aimed to examine the presence of a correlation between ESG performance and the readability of the reports (measured by the Gunning Fog index) employed by companies to disclose nonfinancial information. We successively conducted several robustness tests and verified the absence of multicollinearity and endogeneity. The results show that there is a positive and significant relationship between environmental performance and NFD readability, suggesting that companies with better environmental performance tend to make their disclosures more understandable and transparent. This result supports the signalling theory, according to which companies with good sustainability results try to distinguish themselves from others through clear and readable information. In contrast, no significant relationships are found for the social and governance dimensions, indicating that these variables may be less relevant in determining NFD readability. Practical implications highlight the importance of promoting accountability and transparency in sustainability reporting. Regulators, on the other hand, could use these findings to refine existing regulations and introduce more stringent standards in terms of transparency and readability, to reduce the risk of greenwashing and improve the overall quality of information provided to stakeholders.","PeriodicalId":9518,"journal":{"name":"Business Strategy and The Environment","volume":"57 1","pages":""},"PeriodicalIF":13.4,"publicationDate":"2025-03-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143713218","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}