Ishmael Wiredu, Naiping Zhu, Andrew Osei Agyemang, Hela Borgi
{"title":"Driving Circular Economy Strategies for Sustainable Development: The Role of Board Capital and Innovation Capacity in Emerging Markets","authors":"Ishmael Wiredu, Naiping Zhu, Andrew Osei Agyemang, Hela Borgi","doi":"10.1002/bse.4256","DOIUrl":"https://doi.org/10.1002/bse.4256","url":null,"abstract":"The transition to a circular economy (<jats:sc>CE</jats:sc>) is necessary for achieving sustainable development, yet research on governance mechanisms that drive <jats:sc>CE</jats:sc> strategies remains limited. This study bridges this gap and significantly advances studies <jats:sc>CE</jats:sc>, board governance, innovation, and sustainability by assessing the critical function of board capital in driving <jats:sc>CE</jats:sc> strategies within manufacturing companies in emerging economies, specifically the Middle East and North Africa (MENA) area. Drawing on agency theory and resource‐based theory, the study develops models to assess the influence of board human and social capital on <jats:sc>CE</jats:sc> strategies, with innovation capacity as a key moderating factor. Using panel data from 268 manufacturing firms between 2010 and 2022 and employing dynamic generalized method of moments (GMM) technique, the outcome reveal that both board human and social capital significantly and positively influence <jats:sc>CE</jats:sc> strategies. Notably, innovation capacity not only enhances <jats:sc>CE</jats:sc> strategies directly but also amplifies the impact of board capital, underscoring the synergistic connection between governance and innovation in driving sustainability. The study highlights substantial heterogeneity in the effect of board capital on <jats:sc>CE</jats:sc> strategies across the MENA region. These findings remain robust after conducting several robustness and diagnostic tests. For firms, the study emphasizes the need to invest in building a diverse, skilled, and well‐connected board capable of leading circular strategies. For policymakers, it highlights the importance of creating frameworks that strengthen board governance and foster innovation ecosystems, enabling boards to promote the adoption of <jats:sc>CE</jats:sc> strategies.","PeriodicalId":9518,"journal":{"name":"Business Strategy and The Environment","volume":"27 1","pages":""},"PeriodicalIF":13.4,"publicationDate":"2025-03-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143702750","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":"Building a Green Business: Exploring the Role of Organizational Culture and Human Resource Management Through a Case Study Approach","authors":"Kristina Zabala, Carmela Peñalba‐Aguirrezabalaga, Lorea Narvaiza, Arantza Zubiaurre","doi":"10.1002/bse.4266","DOIUrl":"https://doi.org/10.1002/bse.4266","url":null,"abstract":"The pursuit of sustainability has evolved into a compelling imperative for companies. Understanding the intricate interplay of “human‐side” factors in the construction of a green business has recently gained momentum. The present study explored the role of organizational culture (OC) and human resource management (HRM) practices in building a green business. An in‐depth case study identified three novel elements that contribute to a green OC: Sustainability orientation must be rooted in the organization's origins, green values must be driven by passion, and the ecosystem plays an important role. Additionally, three innovative aspects of HRM practice were identified: the potential of nonmonetary incentives (such as “emotional salary”), the use of employee‐led committees to promote engagement and sustainability consciousness, and the importance of internal communication. In conclusion, the paper identifies some key managerial implications and several avenues for further research.","PeriodicalId":9518,"journal":{"name":"Business Strategy and The Environment","volume":"23 1","pages":""},"PeriodicalIF":13.4,"publicationDate":"2025-03-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143712999","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":"Prevention Is Better Than Cure? Climate Mitigation and Adaptation Patents and Firm Performance","authors":"Pankaj C. Patel","doi":"10.1002/bse.4260","DOIUrl":"https://doi.org/10.1002/bse.4260","url":null,"abstract":"Drawing on recombinant uncertainty theory and using panel data regression analysis with firm, state, and industry fixed effects, we examine how stock markets react to firms' climate‐related patent approvals. We find a positive stock market response to mitigation patents but no reaction to adaptation patents. The patent technological breadth and patents in Rapidly Evolving Technology (RETech) enhance the positive association with mitigation patents but diminish it for adaptation patents. These findings contribute to our understanding of how technological scope and innovation pace shape market perceptions of climate innovations. The findings have important implications for firms' invention strategies and provide valuable insights for policymakers seeking to incentivize effective climate‐related technological developments.","PeriodicalId":9518,"journal":{"name":"Business Strategy and The Environment","volume":"10 1","pages":""},"PeriodicalIF":13.4,"publicationDate":"2025-03-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143713000","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}
Gimede Gigante, Ludovico Galli, Francesca Scarlini
{"title":"Corporate Sustainability and M&A Acquisition Premiums","authors":"Gimede Gigante, Ludovico Galli, Francesca Scarlini","doi":"10.1002/bse.4259","DOIUrl":"https://doi.org/10.1002/bse.4259","url":null,"abstract":"This research explores the relationship between Corporate Sustainability and acquisition premiums in Mergers and Acquisitions (M&A) processes, focusing on Environmental, Social, and Governance (ESG) performance. While environmental concerns have gained prominence, this study investigates the underexplored impact of target firms' ESG scores on M&A premiums. By examining 325 M&A transactions, the research uncovers a positive correlation between higher ESG scores and increased acquisition premiums, suggesting that target companies with strong sustainability profiles can command better negotiating power. The findings highlight that a high ESG rating enhances both the target's value and the acquiring firm's potential to realize synergies and improve economic performance. Additionally, the study examines whether the relationship between M&A premiums and ESG scores is stronger for acquirers with high Corporate Social Responsibility (CSR) standards.","PeriodicalId":9518,"journal":{"name":"Business Strategy and The Environment","volume":"24 1","pages":""},"PeriodicalIF":13.4,"publicationDate":"2025-03-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143702749","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":"Correction to “Resource Recombination Perspective on Open Eco-Innovation: Open Innovation Type, Strategic Orientation, and Green Innovation”","authors":"","doi":"10.1002/bse.4275","DOIUrl":"10.1002/bse.4275","url":null,"abstract":"<p>\u0000 <span>Kim, Y.</span>, <span>Roh, T.</span>, & <span>Boroumand, R. H.</span>(<span>2024</span>). <span>Resource Recombination Perspective on Open Eco-Innovation: Open Innovation Type, Strategic Orientation, and Green Innovation</span>. <i>Business Strategy and the Environment</i>, <span>33</span>(<span>7</span>), <span>6207</span>–<span>6220</span>. https://doi.org/10.1002/bse.3806.</p><p>The acknowledgment of credit to the Science and Technology Policy Institute (STEPI), the data contributor (KIS), was inadvertently omitted on our part.</p><p>We apologize for this error.</p>","PeriodicalId":9518,"journal":{"name":"Business Strategy and The Environment","volume":"34 4","pages":"5140"},"PeriodicalIF":12.5,"publicationDate":"2025-03-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1002/bse.4275","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143702850","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Sudipta Ghosh, Rakesh D. Raut, Naoufel Cheikhrouhou, Chiranjib Bhowmik, Amitava Ray
{"title":"Paving the Pathway: An Entropy‐Based Combined Compromise Solution Approach to Facilitate the Indian Plastic Industry's Transition Toward a Circular Economy","authors":"Sudipta Ghosh, Rakesh D. Raut, Naoufel Cheikhrouhou, Chiranjib Bhowmik, Amitava Ray","doi":"10.1002/bse.4253","DOIUrl":"https://doi.org/10.1002/bse.4253","url":null,"abstract":"The traditional “take‐make‐use‐dispose”‐type economic pattern has led to severe environmental challenges, particularly in the plastic industry, where waste generation and resource inefficiency are of utmost concerns. Transitioning to a circular economy (<jats:sc>CE</jats:sc>) requires strategic supplier evaluation to ensure sustainable sourcing. However, <jats:sc>CE</jats:sc> implementation in emerging economies remains underexplored, and no established framework exists for circular supplier selection (CSS) in the plastic industry. This study addresses a practical CSS problem faced by a leading Indian plastic manufacturer (the case organization) aiming to partner with an ideal supplier for developing innovative circular products. Through a Delphi study, eight key evaluation criteria were identified and validated. A multi‐criteria decision‐making (MCDM) framework integrating the entropy method (for criteria weighting) and the combined compromise solution (COCOSO) method (for supplier ranking) was applied. The findings reveal that “total consumption of toxic substances” and “reduction in workplace hazards through employee wellbeing activities” are the two most influential CSS criteria. Based on the ranking, the most suitable supplier was recommended to the case organization. This research reinforces supplier selection models by integrating social, environmental, and economic dimensions within a <jats:sc>CE</jats:sc> context. The novel entropy‐COCOSO framework further improves decision‐making by reducing subjectivity and improving ranking accuracy. Practically, the study provides managers and policymakers with a robust decision‐support tool to facilitate <jats:sc>CE</jats:sc> adoption in the plastic industry, guiding sustainable procurement strategies.","PeriodicalId":9518,"journal":{"name":"Business Strategy and The Environment","volume":"183 1","pages":""},"PeriodicalIF":13.4,"publicationDate":"2025-03-24","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143695432","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":"Using Sustainability Reporting as a Business Communication Tool to Reshape Social Relations in Times of Turmoil","authors":"Muhammad Al Mahameed, Ahmad Abras","doi":"10.1002/bse.4262","DOIUrl":"https://doi.org/10.1002/bse.4262","url":null,"abstract":"This paper investigates the adaptation of sustainability reporting (SR) amidst turbulent political and social environments, shaping novel social dynamics. We employ a critical hermeneutic framework to longitudinally analyse SR across three corporations, spanning periods before and after a significant socio‐political upheaval, notably the Egyptian revolution. Through a comprehensive examination comprising 29 sustainability and management reports, interviews with eight key stakeholders, analysis of 488 corporate social media posts (Facebook and Twitter) and scrutiny of 213 news media articles spanning 6 years (2009–2014), we uncover the role of SR in constructing and navigating social relations amid instability. Our findings reveal that SR functions to construct social connections during periods of uncertainty by crafting narratives that symbolically link corporations to newly empowered communities. Consequently, SR becomes a mechanism for reshaping corporate identity, portraying corporations as courageous and aligned with youthful aspirations, aligning their operations with the evolving socio‐political landscape. This study offers a nuanced understanding of how SR serves as a tool for corporate communication, enabling corporations to manage their image and relationships with emerging stakeholders while (re)shaping a political identity that signifies continuity and stability. Grounded in the context of the pre‐ and post‐Egyptian revolution, our analysis highlights the adaptive nature of corporate communication amidst shifting social and political landscapes.","PeriodicalId":9518,"journal":{"name":"Business Strategy and The Environment","volume":"28 1","pages":""},"PeriodicalIF":13.4,"publicationDate":"2025-03-24","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143695284","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":"Sustainable Supply Chain and Environmental Collaboration in the Supply Chain Management: Agenda for Future Research and Implications","authors":"Rajesh Kumar Singh, Ruchi Mishra, Qile He","doi":"10.1002/bse.4136","DOIUrl":"https://doi.org/10.1002/bse.4136","url":null,"abstract":"Over the last decade, environmental collaboration has gained significant attention in supply chain research. The increasing interest in environmental collaboration in supply chain literature can be witnessed by the number of articles published in recent years. To establish the field further, this study aims to present a thorough analysis of the growth and emerging trends in environmental collaboration in the supply chain literature, highlight gaps and suggest future research directions in this domain. Using the Preferred Reporting Items for Systematic Reviews and Meta‐Analyses (PRISMA) method, a systematic literature review on a final set of 148 articles published between 2010 and July 2024 was carried out. The findings highlight the evolution of the field in terms of yearly growth, major publication outlets, research design‐based classification and geographical distribution of selected papers. After that, the study presents emerging themes in sustainable operations literature and offers types, challenges, benefits and critical success factors of environmental collaboration in the supply chain. Finally, the study suggests future research directions based on existing knowledge gaps using the theory, context and methodology (TCM) framework. The study has several academic and practical implications for encouraging environmental collaboration for sustainability development in the supply chain. It has revealed gaps and new opportunities that can be pursued in future research.","PeriodicalId":9518,"journal":{"name":"Business Strategy and The Environment","volume":"71 1","pages":""},"PeriodicalIF":13.4,"publicationDate":"2025-03-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143677578","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":"Contractual Mechanisms for Coordinating a Sustainable Supply Chain With Carbon Emission Reduction","authors":"Reza Eslamipoor","doi":"10.1002/bse.4248","DOIUrl":"https://doi.org/10.1002/bse.4248","url":null,"abstract":"This article examines the significance of reducing carbon emissions in a sustainable supply chain (SSC) through carbon trading price. It delves into how contracts coordinate supply chains amid market demand uncertainty by focusing on a model in which demand fluctuates based on pricing and sustainability factors. The study highlights conflicts arising from different profit motives within the supply chain and suggests using synchronization mechanisms based on contracts. Three types of contracts—two‐part tariff, revenue sharing, and quantity flexibility—are analyzed for their impact on supply chain coordination and profitability. The study concludes that two‐part tariff contract can enhance coordination and profit distribution within the chain, while revenue sharing may benefit producers more but reduce retailer profitability. Moreover, while quantity flexibility may be less effective in synchronizing the chain, it can still boost profitability.","PeriodicalId":9518,"journal":{"name":"Business Strategy and The Environment","volume":"183 1","pages":""},"PeriodicalIF":13.4,"publicationDate":"2025-03-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143666165","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}
Jun Wen, Hamid Mahmood, Samia Khalid, Muhammad Zakaria
{"title":"Nexus Between Digital Economy and Environmental Sustainability in BRICS: Does Green Innovation Matter?","authors":"Jun Wen, Hamid Mahmood, Samia Khalid, Muhammad Zakaria","doi":"10.1002/bse.4243","DOIUrl":"https://doi.org/10.1002/bse.4243","url":null,"abstract":"The digital economy has emerged as a significant driver of development in many countries, yet its impact on environmental sustainability remains a subject of debate among experts. Unlike previous studies, this research examines the influence of the digital economy on environmental sustainability while investigating the mediating role of green innovation in this relationship. Using a panel dataset from BRICS countries covering the period 2004–2020, this study explores the impact of the digital economy by employing digital finance and digital infrastructure as proxies. Advanced econometric techniques, including the Cup‐FM, Cup‐<jats:sc>BC</jats:sc>, AMG, and CS‐ARDL methods, are applied to ensure robust panel data analysis. The findings reveal that, in the long run, digital finance, digital infrastructure, and green innovation exhibit a significant negative relationship with environmental degradation, thereby contributing positively to environmental sustainability in BRICS economies. Furthermore, mediation analysis using the Sobel, Aroian, and Goodman tests confirms that green innovation effectively mediates the impact of digital finance and digital infrastructure on environmental sustainability. However, the results also indicate that economic growth and population growth have a significant positive relationship with environmental degradation, highlighting their adverse effects on sustainability. Based on these findings, it is crucial for BRICS countries to implement policies and programs that foster the growth of digital finance and digital infrastructure as tools for promoting environmental sustainability. Policymakers should prioritize investment in digital finance and infrastructure to drive green innovation and support eco‐friendly manufacturing. Additionally, addressing digital access disparities to ensure inclusive participation in sustainable initiatives.","PeriodicalId":9518,"journal":{"name":"Business Strategy and The Environment","volume":"6 1","pages":""},"PeriodicalIF":13.4,"publicationDate":"2025-03-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143661234","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}