Business Strategy and The Environment最新文献

{"title":"Evaluating Companies' Impression Management Tactics in Mandatory Sustainability Reporting","authors":"Antonio Iazzi, Armando Papa, Rosa Palladino, Simona Lamusta","doi":"10.1002/bse.4326","DOIUrl":"https://doi.org/10.1002/bse.4326","url":null,"abstract":"The study aims to investigate how a sample of Italian companies adopt impression management (IM) tactics in sustainability reports under mandatory sustainability disclosure regulations. Using longitudinal panel data analysis on sustainability reporting and firm features of 76 Italian companies over 5 years, it evaluates the influence of GRI, integrated reporting, and corporate characteristics on adopting assertive, performance‐oriented, and defensive impression IM strategies. IM in corporate social responsibility (CSR) disclosure refers to the use of communication to shape stakeholders' perceptions of organizations' social and environmental performance. The findings reveal a dominance of assertive tactics, particularly in the manufacturing and electronics sectors, while performance‐oriented strategies are more prevalent in industries with measurable outcomes, such as utilities. Defensive tactics are marginally used, reflecting a preference for proactive image building. Larger firms tend to adopt performance‐oriented and defensive tactics, driven by visibility and reputational risks. Integrating sustainability disclosures discourages assertive tactics, while GRI compliance promotes assertive and performance‐oriented strategies. The results highlight the strategic role of IM in balancing reputational goals and regulatory compliance, thus supporting legitimacy theory, indicating that businesses strategically employ non‐financial reporting to align with prevailing societal norms and expectations. This study contributes to the debate on IM, providing social and environmental policy implications, with a focus on climate change. Specifically, it offers theoretical contributions by advancing the understanding of IM within mandatory reporting frameworks and emphasizing the role of regulatory and sectorial dynamics in shaping corporate disclosure strategies. Practical implications for CEOs and policymakers are also discussed, highlighting that CEO letters should focus on aligning corporate sustainability goals with stakeholder values and prioritizing transparency and trustworthiness in sustainability communication while depicting a comprehensive integrated scenario of companies' non‐financial performance. Assertive tactics could highlight directly actual achievements, but excessive use may trigger stakeholder skepticism. Integrating performance‐oriented narratives supported by quantifiable metrics strengthens the credibility of non‐financial disclosures, while defensive strategies should be limited to addressing concrete reputational threats. From policymakers' perspectives, sector‐specific standards and independent oversight, through audit committees and board independence, are considered to align with long‐term sustainability goals and promote stakeholders' engagement.","PeriodicalId":9518,"journal":{"name":"Business Strategy and The Environment","volume":"19 1","pages":""},"PeriodicalIF":13.4,"publicationDate":"2025-05-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143902913","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":"Role of Greenwashing in Influencing Brand Attitude and Consumption: Identifying Sustainable Business Strategies","authors":"Anis Ur Rehman, Sushant Kumar, Rsha Alghafes, Laura Broccardo, Ajay Kumar Patel","doi":"10.1002/bse.4300","DOIUrl":"https://doi.org/10.1002/bse.4300","url":null,"abstract":"With firms' increasing adoption of green marketing strategies, greenwashing is also becoming more prevalent. Despite the negative consequences of greenwashing, limited studies have investigated its impact on attitude and consumption. Earlier studies have used greenwashing as a one‐dimensional construct and do not distinguish between different greenwashing practices. Based on the integrated framework of the Attribution Theory and the elaboration likelihood model, this study examines the effects of situational involvement with greenwashing practices on perceived greenwashing, green skepticism, and ultimately, brand attitude and purchase intention. Additionally, it investigates the moderating effect of environmental knowledge. Using a cross‐sectional research design, the study uses structural equation modeling to analyze the data collected from 353 US consumers. Findings suggest that greenwashing practices influence attitude and purchase intentions. The mediating role of green skepticism was also established. Additionally, the study highlights environmental knowledge's moderating role in the relationships studied. The results have implications for sustainable business practices and improving positive brand attitudes and green consumption by understanding customer perception of greenwashing.","PeriodicalId":9518,"journal":{"name":"Business Strategy and The Environment","volume":"20 1","pages":""},"PeriodicalIF":13.4,"publicationDate":"2025-05-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143898126","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":"Advancing Business Strategy in End‐Of‐Life Management for the Fashion Industry","authors":"Giuseppe Bonifazi, Idiano D'Adamo, Chiara Grosso, Roberta Palmieri","doi":"10.1002/bse.4318","DOIUrl":"https://doi.org/10.1002/bse.4318","url":null,"abstract":"Fast fashion is disrupting circularity in the fashion industry, necessitating strategic business models fostering sustainable production. However, there is a gap in the literature regarding criteria for assessing the end‐of‐life (EoL) management of textile products. The present study aimed to identify the most effective EoL strategies to support fashion companies in closing the loop, comparing reuse, mechanical recycling, and chemical recycling against landfill disposal. Using multicriteria decision analysis (MCDA), the research engaged with diverse stakeholder categories (i.e., academics, industry professionals, consultants, and politicians) to evaluate several aspects of sustainability. The results highlight the dominant role played by sustainable policy considerations over economic and environmental factors and the relatively lower weight given to technological and social aspects. Reuse emerged as the most beneficial strategy, followed by mechanical recycling and chemical recycling. Additionally, the results underscore the urgency of avoiding landfill disposal. The findings offer a strategic framework for promoting textile EoL management, in alignment with Sustainable Development Goal 12.","PeriodicalId":9518,"journal":{"name":"Business Strategy and The Environment","volume":"72 1","pages":""},"PeriodicalIF":13.4,"publicationDate":"2025-05-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143901554","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":"Untangling Companies' Engagement With Biodiversity: A Systematic Literature Review and Research Agenda","authors":"Francesco Testa, Duccio Tosi, Sara Tessitore, Niccolò Maria Todaro, Vinicio Di Iorio","doi":"10.1002/bse.4324","DOIUrl":"https://doi.org/10.1002/bse.4324","url":null,"abstract":"The current rapid and massive biodiversity decline the world is experiencing poses serious threats to the health of natural ecosystems and their ability to provide the services that the socioeconomic system relies on. Organizations are key players in this dynamic, as they have a significant impact on biodiversity while also heavily depending on it. Recently, there has been increased attention and effort in the management literature to understand how companies can manage biodiversity. However, there has been no comprehensive analysis of this strand of literature that synthesizes and elaborates how corporate strategies toward biodiversity are shaped. To fill this gap, the purpose of the paper is to organize the existing literature through a conceptual framework that provides a representation of the mechanisms underlying companies' strategizing process in relation to biodiversity. A systematic review of 151 papers reveals that corporate biodiversity management strategies can take on different systemic traits and regenerative scopes depending on companies' understanding and internalization of their impact–dependence relationship with nature. Moreover, we show how the organizational field can influence such understanding and stimulate or inhibit the conversion of a systems perspective into a coherent biodiversity management strategy. Beyond providing conceptual ground on how companies engage with biodiversity at the strategic level, we outline future research avenues, while also developing recommendations for further theory development.","PeriodicalId":9518,"journal":{"name":"Business Strategy and The Environment","volume":"6 1","pages":""},"PeriodicalIF":13.4,"publicationDate":"2025-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143898127","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":"Exploring the Interrelationship Between Energy, Geopolitical Risk, and Bitcoin Based Green Business Strategies","authors":"Pooja Kumari, Amit Shankar, Rsha Alghafes, Laura Broccardo, Steven T. Walsh","doi":"10.1002/bse.4290","DOIUrl":"https://doi.org/10.1002/bse.4290","url":null,"abstract":"This study examined how Bitcoin, energy prices, and geopolitical risk interact by examining the first four moments (mean, variance, skewness, and kurtosis) of their return distributions by using wavelet analysis. The findings reveal that the co‐movement patterns of energy index, geopolitical risk index, and Bitcoin prices are time and frequency sensitive. During the turbulent period of 2020–2024, significant cross effect was observed at medium‐ and long‐term time scales in the relationship between the energy index and the geopolitical risk index. Similarly, in the case of Bitcoin and the geopolitical risk index, significant cross‐effects were detected at medium‐ and short‐term time scales. From 2021 onwards, a strong coherence is observed at high and medium frequencies for all four moment pairs among Bitcoin, energy prices, and geopolitical risk. In terms of the Bitcoin‐energy relationship, significant co‐movement in mean and volatility is noted throughout most of the sample period and across different frequency bands. Moreover, cross‐skewness and cross‐kurtosis connections are more prominent at short‐ and medium‐term horizons, especially during covid pandemic. These insights are valuable for investors and policymakers in risk management.","PeriodicalId":9518,"journal":{"name":"Business Strategy and The Environment","volume":"111 1","pages":""},"PeriodicalIF":13.4,"publicationDate":"2025-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143898042","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 National Innovation Layout Spur Eco‐Innovation? The Upper Echelon's Role","authors":"Ali Meftah Gerged, Ali Uyar, Pornsit Jiraporn, Abdullah S. Karaman","doi":"10.1002/bse.4325","DOIUrl":"https://doi.org/10.1002/bse.4325","url":null,"abstract":"Numerous studies have examined whether financial and governance characteristics within firms promote eco‐innovation. However, the influence of institutional contexts on eco‐innovation, which is crucial for shaping effective policy and establishing key conditions, has not been adequately explored. Drawing on institutional, stakeholder, and upper‐echelon theories, our study investigates the mechanisms through which a national innovation system (NIS) influences firms' commitment to eco‐innovation. We specifically focus on the manufacturing sector worldwide, over the period from 2007 to 2018. Our findings reveal that the NIS is negatively associated with eco‐innovation, contrary to expectations. This prompted us to delve deeper into three key components of the NIS. The analysis showed that although the quality of research institutions and government procurement of high‐tech products negatively correlate with eco‐innovation, university–industry collaboration positively affects it. Further exploration identified that environmental management teams and nonexecutive directors are critical moderators through which the NIS can enhance a firm's capacity for eco‐innovation. Our evidence suggests several practical implications for theory, management practices, and policy formulation.","PeriodicalId":9518,"journal":{"name":"Business Strategy and The Environment","volume":"19 1","pages":""},"PeriodicalIF":13.4,"publicationDate":"2025-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143898043","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":"Environmental Violation and Cost of Equity Capital—Evidence From Europe","authors":"Md. Borhan Uddin Bhuiyan, Yimei Man","doi":"10.1002/bse.4315","DOIUrl":"https://doi.org/10.1002/bse.4315","url":null,"abstract":"We examine the association between environmental violations and the cost of equity capital. We posit that firms that breach environmental compliance introduce firm‐specific risks and, consequently, elevate the costs associated with equity capital. Utilizing a dataset comprising publicly listed firms from the Bloomberg European 500 index spanning the period from 2005 to 2020, we present empirical evidence that environmental violations contribute to an increase in a firm's cost of equity capital. Our findings hold economic significance, revealing that a one standard deviation increase in environmental violations results in a 4.28–5.12 basis point increase in the cost of equity. Furthermore, we establish that the positive relationship between environmental violations and the cost of equity capital is more pronounced in firms lacking corporate social responsibility training and those operating within highly competitive industries. Importantly, our results withstand endogeneity concerns, affirming their robustness. The implications of our study extend to stakeholders, enhancing their understanding of the repercussions of environmental violations on investment decisions.","PeriodicalId":9518,"journal":{"name":"Business Strategy and The Environment","volume":"44 1","pages":""},"PeriodicalIF":13.4,"publicationDate":"2025-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143898080","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":"Models, Guidelines and Frameworks for Sustainable Management: A Bibliometric Analysis From the Perspective of Interdisciplinarity","authors":"Arnaldo Pinheiro Costa Gaio, Ana Paula Morais de Lima, Marcelo Jasmim Meiriño, Daniel Vidal Pérez, Lidia Angulo Meza, Jacob Binsztok","doi":"10.1002/bse.4317","DOIUrl":"https://doi.org/10.1002/bse.4317","url":null,"abstract":"The ongoing challenges of climate change, ecosystem degradation and demand for natural resources make sustainability a global priority. Models, guidelines and frameworks are particularly valuable in the field of management as they help to solve problems. This study aims to explore them from an interdisciplinary perspective, including a concern with the SDGs. The study involved a bibliometric analysis using the SALSA method on 352 documents published between 2015 and 2023. Additional data sources supported the analysis. The content analysis assessed the interdisciplinarity and alignment with the 2030 Agenda and the SDGs. The study highlighted the level of interdisciplinarity in the research that is being pursued. Furthermore, it demonstrated the uptake of the SDGs in the field of management. The study gives researchers and editors a valuable view on interdisciplinarity and suggests fruitful opportunities for future research in the context of emerging sustainability concerns.","PeriodicalId":9518,"journal":{"name":"Business Strategy and The Environment","volume":"52 1","pages":""},"PeriodicalIF":13.4,"publicationDate":"2025-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143898128","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":"Identifying Corporate Innovative Sustainability Strategies in Consultancy Reports: A Systematic (Grey) Literature Review","authors":"Robin Strueber, Dev K. (Roshan) Boojihawon, John R. Bryson","doi":"10.1002/bse.4323","DOIUrl":"https://doi.org/10.1002/bse.4323","url":null,"abstract":"Decarbonisation requires firms to rethink and redefine growth, informed by strong sustainability principles. Management consultants are important enablers for clients to strategically manage resource constraints, given their limited capabilities in this transition. Consultancy institutional logics play an important role in inducing new knowledge cooperative processes in consultant and client cognitive structures. This paper systematically reviews client‐facing reports generated during this process to identify emerging sustainability strategy issues and future theoretical applications. This is a novel way to apply a systematic literature review (SLR) to identify tacit knowledge outcomes in meta‐consulting knowledge creation pathways. The findings indicate that accessing consultancy institutional logic provides firms with intellectual resources to organise sustainability into manageable challenges to address legislative and competitive demands. A knowledge exchange gap between academia and the consulting industry is identified, and a framework is developed for practice‐oriented sustainability research by expanding the existing research on knowledge exchange loops between management and external knowledge providers.","PeriodicalId":9518,"journal":{"name":"Business Strategy and The Environment","volume":"96 1","pages":""},"PeriodicalIF":13.4,"publicationDate":"2025-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143898050","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 Fossil Fuel Financing on Firm Value and the Role of Climate Policies and Global Climate Initiatives in the Banking Industry","authors":"Ahseon Lee, Jong Dae Kim, Seong Mi Bae","doi":"10.1002/bse.4316","DOIUrl":"https://doi.org/10.1002/bse.4316","url":null,"abstract":"This study examines the impact of banks' fossil fuel financing on their firm value in the context of the Paris Climate Agreement. Using panel data from the top 60 global banks by asset size from 2017 to 2022, we analyze the effect of fossil fuel financing on firm value, measured by Tobin’s Q, using an OLS model. We also investigate whether national climate policies and climate initiative participation moderate this relationship. The study finds that in the absence of strong climate policies, banks’ fossil fuel financing is positively associated with firm value. However, when robust country climate policies are in place, this relationship reverses, showing a negative association between banks’ fossil fuel financing and firm value. This indicates that in the absence of strong climate policies, banks may hesitate to adopt low‐carbon strategies due to concerns over potential declines in firm value. Additionally, while global climate initiatives alone do not show a significant moderating effect, those accompanied by strong monitoring mechanisms demonstrate a significant negative moderating effect. These findings suggest that for a successful transition to a low‐carbon society through the power of banks’ financial resources, robust climate policies and the widespread adoption of binding climate initiatives are imperative.","PeriodicalId":9518,"journal":{"name":"Business Strategy and The Environment","volume":"42 1","pages":""},"PeriodicalIF":13.4,"publicationDate":"2025-04-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143884606","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}