推动循环经济战略促进可持续发展：董事会资本和创新能力在新兴市场中的作用

IF 12.5 1区管理学 Q1 BUSINESS

Business Strategy and The Environment Pub Date : 2025-03-26 DOI:10.1002/bse.4256

Ishmael Wiredu, Naiping Zhu, Andrew Osei Agyemang, Hela Borgi

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引用次数: 0

摘要

向循环经济过渡是实现可持续发展的必要条件，然而，关于推动循环经济战略的治理机制的研究仍然有限。本研究通过评估董事会资本在新兴经济体，特别是中东和北非（MENA）地区制造业公司中推动CE战略的关键作用，弥合了这一差距，并显著推进了对CE、董事会治理、创新和可持续性的研究。基于代理理论和资源基础理论，本研究建立了董事会人力资本和社会资本对企业行政执行战略影响的模型，其中创新能力是一个关键的调节因素。利用2010 - 2022年268家制造企业的面板数据，运用动态广义矩量法（GMM）技术，结果表明董事会人力资本和社会资本对企业绩效战略都有显著的正向影响。值得注意的是，创新能力不仅直接增强了CE战略，而且放大了董事会资本的影响，强调了治理与创新之间在推动可持续性方面的协同联系。该研究强调了董事会资本对中东和北非地区企业行政战略影响的实质性异质性。在进行了多次稳健性和诊断性测试后，这些发现仍然是稳健性的。对于公司而言，该研究强调需要投资建立一个多元化、熟练且联系良好的董事会，以领导循环战略。对于政策制定者来说，它强调了建立加强董事会治理和培育创新生态系统的框架的重要性，使董事会能够促进企业环保战略的采用。

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Driving Circular Economy Strategies for Sustainable Development: The Role of Board Capital and Innovation Capacity in Emerging Markets

The transition to a circular economy (CE) is necessary for achieving sustainable development, yet research on governance mechanisms that drive CE strategies remains limited. This study bridges this gap and significantly advances studies CE, board governance, innovation, and sustainability by assessing the critical function of board capital in driving CE 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 CE 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 CE strategies. Notably, innovation capacity not only enhances CE 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 CE 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 CE strategies.

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来源期刊

Business Strategy and The Environment Multiple-

CiteScore

22.50

自引率

19.40%

发文量

336

期刊介绍： Business Strategy and the Environment (BSE) is a leading academic journal focused on business strategies for improving the natural environment. It publishes peer-reviewed research on various topics such as systems and standards, environmental performance, disclosure, eco-innovation, corporate environmental management tools, organizations and management, supply chains, circular economy, governance, green finance, industry sectors, and responses to climate change and other contemporary environmental issues. The journal aims to provide original contributions that enhance the understanding of sustainability in business. Its target audience includes academics, practitioners, business managers, and consultants. However, BSE does not accept papers on corporate social responsibility (CSR), as this topic is covered by its sibling journal Corporate Social Responsibility and Environmental Management. The journal is indexed in several databases and collections such as ABI/INFORM Collection, Agricultural & Environmental Science Database, BIOBASE, Emerald Management Reviews, GeoArchive, Environment Index, GEOBASE, INSPEC, Technology Collection, and Web of Science.