Article2013

Environmental, Sustainable Behaviors and Innovation of Firms During the Financial Crisis

54 citations0/0 files storedBusiness Strategy and the Environment

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Environmental Sustainability in Business Corporate Social Responsibility Reporting Sustainability and Innovation in Business

Abstract

Abstract In this paper, we analyze the relation between sustainable and environmental behaviors and performance and innovation. Altogether, 1032 observations are divided into specific groups according to the Carbon Disclosure Project (CDP) Global 500 report and the Dow Jones Sustainability Index (DJSI) for 2008 and 2009. Based on legitimation theory and stakeholder theory, we regard the voluntary activities of firms as having long‐run effective characteristics that can be applied to industry in general. The environmental behavior of firms is represented by CDP activity, while the DJSI represents their sustainable activities. Based on the assumption that corporate environmentalism is a bilateral agreement between policymakers and firms, we answer four specific research questions. (i) What is the relation between voluntary activities and performance of firms? (ii) Do firms' voluntary activities in environmental and sustainable implementations induce innovation? (iii) How does the nature of innovation depend on voluntary type of the firms? (iv) What is the link between firm characteristics and innovation according to voluntary types? From the presented empirical analysis, we find positive relations between corporate environmentalism and innovative activities. We then classify environmental and sustainable issues and propose an empirical model of the links between environmental and sustainable behaviors and innovation activities. Copyright © 2013 John Wiley & Sons, Ltd and ERP Environment.

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2010Strategic management a stakeholder approach 1991Exploration and Exploitation in Organizational Learning 2007The Social Responsibility of Business Is to Increase Its Profits 2006How corporate social responsibility is defined: an analysis of 37 definitions 2003Discrete Choice Methods with Simulation 2002Introduction 2006The Influence of Green Innovation Performance on Corporate Advantage in Taiwan 1999Stakeholder Influence Strategies

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