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Article
Publication date: 4 November 2019

S.M. Ramya and Rupashree Baral

Given the urgency in taking climate action, the purpose of this paper is to propose a conceptual framework to drive corporate environmental responsibility (CER) through…

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Abstract

Purpose

Given the urgency in taking climate action, the purpose of this paper is to propose a conceptual framework to drive corporate environmental responsibility (CER) through environmentally responsible decision making (ERDM) by incorporating two interventions, the accuracy of mental models (MM) of the key decision makers and green nudging.

Design/methodology/approach

Relevant theories in management, cognition and behavioral sciences are studied and leaned on to build this conceptual framework.

Findings

Our mind creates MM about the real world to illustrate what we think about the world and about how it works. MM are clouded with biases and misconceptions. These MM have a tremendous impact on our behavior. The authors present how increasing the accuracy of the MM of environmental phenomena leads to efficient sensemaking and directs an ERDM thereby contributing to the environmental responsibility gestures of an organization. Green nudges attack the choice architecture of the decision maker toward ERDM.

Research limitations/implications

This framework contributes to the literature on corporate social responsibility. It advances the theories at the intersection of business, economy and natural environment. The framework built with assumptions opens the scope for future research and empirical testing.

Practical implications

This framework contributes to practice by recommending implementable and sustainable interventions. The inaccuracies found may become the base for a sector-wise training program. Due to mimetic isomorphism, driving CER may reap policy implications.

Originality/value

This multi-level conceptual framework is the first to propose individual level drivers of organizational level outcome CER through MM of environmental phenomena of key decision makers and green nudging. The paper offers complementary interventions.

Article
Publication date: 1 February 1998

Michael Jay Polonsky, Harry Brooks, Philip Henry and Craig Schweizer

This paper is an exploratory examination into the purchase of recycled paper within large Australian organizations. In‐depth interviews were held with 11 purchasing agents (PAs)…

1547

Abstract

This paper is an exploratory examination into the purchase of recycled paper within large Australian organizations. In‐depth interviews were held with 11 purchasing agents (PAs). The findings of the study tend to support earlier research in this area, which suggests that organizations can be classified into four categories of environmentally responsible purchasing behavior: founder’s ideas; symbolism; opportune; and restraint. Understanding the influence of PA’s attitudes and perceptions toward environmental product attributes can assist organizations who are marketing such products to become more effective. This study found that while environmental attributes are important, PAs are also concerned with traditional marketing mix variables such as price, delivery and quality. The emphasis marketers give to products’ environmental attributes will therefore depend on the firm and PA’s environmental involvement.

Details

Journal of Business & Industrial Marketing, vol. 13 no. 1
Type: Research Article
ISSN: 0885-8624

Keywords

Article
Publication date: 14 September 2023

Ayman Issa and Jalal Rajeh Hanaysha

This study aims to investigate the link between carbon emissions and market value for nonfinancial companies in the STOXX Europe 600 index, with a specific focus on the moderating…

Abstract

Purpose

This study aims to investigate the link between carbon emissions and market value for nonfinancial companies in the STOXX Europe 600 index, with a specific focus on the moderating effect of executive compensation.

Design/methodology/approach

To achieve the study’s purpose, this study uses data from the STOXX Europe 600 index between 2010 and 2021. The researchers use ordinary least squares regression analysis to examine the relationship between carbon emissions and market value while taking into account the moderating effect of executive compensation. The study also uses additional tests, such as the dynamic two-step system generalized method of moments regression and the difference in differences method.

Findings

The study reveals four key findings. First, there is a statistically significant negative relationship between carbon emissions and market value. Second, executive compensation has a negative moderating effect on the association between carbon emissions and market value. Third, Say-on-Pay regulations can encourage companies to adopt environmentally responsible practices, which can positively impact their market value. Finally, the study shows that the Paris Agreement motivates companies to prioritize sustainability, leading to potentially higher market values for those that are more environmentally responsible.

Practical implications

This study highlights the importance of considering environmental sustainability in corporate decision-making. It suggests that prioritizing sustainability can lead to financial benefits, as companies with lower carbon emissions tend to have higher market values. The findings also have important implications for regulators and investors.

Originality/value

This study provides novel insights into the link between carbon emissions and market value and the moderating effect of executive compensation. It also sheds light on the potential impact of Say-on-Pay regulations and the Paris Agreement on corporate sustainability practices and market values.

Details

Corporate Governance: The International Journal of Business in Society, vol. 24 no. 2
Type: Research Article
ISSN: 1472-0701

Keywords

Article
Publication date: 17 August 2021

Julija Winschel

In view of the current climate change emergency and the growing importance of the climate-related accountability of companies, this paper aims to advance a comprehensive…

Abstract

Purpose

In view of the current climate change emergency and the growing importance of the climate-related accountability of companies, this paper aims to advance a comprehensive understanding of the determinants of carbon-related chief executive officer (CEO) compensation.

Design/methodology/approach

Building on the agency-theoretical perspective on executive compensation and existing work in the fields of management, corporate governance, cultural studies, and behavioral science, this paper derives a multilevel framework of the determinants of carbon-related CEO compensation.

Findings

This paper maps the determinants of carbon-related CEO compensation at the societal, organizational, group, and individual levels of analysis. It also provides research propositions on the determinants that can support and challenge the implementation of this instrument of environmental corporate governance.

Originality/value

In the past literature, the determinants of carbon-related CEO compensation have remained largely unexplored. This paper contributes to the academic discussion on environmental corporate governance by showcasing the role of interlinkages among the determinants of carbon-related CEO compensation and the possible countervailing impacts. In view of the complex interdisciplinary nature of climate change impact, this paper encourages businesses practitioners and regulators to intensify their climate change mitigation efforts and delineates the levers at their disposal.

Article
Publication date: 13 December 2018

Frida Bahja, Cihan Cobanoglu, Katerina Berezina and Carolin Lusby

The purpose of the study was to discover the relative importance of influencing factors toward booking a cruise vacation. Based on a review of literature, this study focused on…

1160

Abstract

Purpose

The purpose of the study was to discover the relative importance of influencing factors toward booking a cruise vacation. Based on a review of literature, this study focused on exploring the relative importance of six influential factors in cruise customers’ decision-making process: cruise vacation price, cruise duration, distance from the cruise port, itineraries, environmental friendliness of cruise line and cruise online reviews.

Design/methodology/approach

The complexity of cruise customers’ decision-making process for involving these six attributes with several levels was examined with choice-based conjoint (CBC) analysis. CBC was selected due to its realistic approach to purchase decisions, in the form of trade-offs. The online survey collected data anonymously. The survey was distributed through Amazon’s Mechanical Turk (Mturk) platform. The sample consisted of 450 cruise customers, who had experienced a cruise vacation before.

Findings

The findings of the study showed that online reviews were the most influential attribute for cruise customers in their cruise decision, followed very closely by the environmental friendliness of the cruise line. The next influential factor was the duration of the cruise vacation, which was followed by distance from the cruise port, cruise itinerary and cruise vacation price. The best and the worst cruise vacation profiles were generated based on the CBC analysis.

Practical implications

The findings of this study provide some insights with regard to cruise customers’ importance about influencing factors when deciding on a cruise vacation.

Originality/value

The research provides insides in understanding the influential factors at the last stage of cruise customers’ decision-making process. In this regard, cruise industry can pay more attention in promoting the attributes of a cruise offer as influential factors. Additionally, the findings of this study contribute to the general knowledge about cruise customers’ decision-making process.

Details

Tourism Review, vol. 74 no. 3
Type: Research Article
ISSN: 1660-5373

Keywords

Article
Publication date: 29 November 2023

Huthaifa Alqaralleh

This study explores the interconnectedness and complexity of risk-varied climate initiatives such as green bonds (GBs), emissions trading systems (ETS) and socially responsible

141

Abstract

Purpose

This study explores the interconnectedness and complexity of risk-varied climate initiatives such as green bonds (GBs), emissions trading systems (ETS) and socially responsible investments (SRI). The analysis covers the period from September 2011 to August 2022, using six indices: three representing climate initiatives and three indicating uncertainty.

Design/methodology/approach

To achieve this, the study first examines dynamic lead-lag relations and correlation patterns in the time-frequency domain to analyse the returns of the series. Additionally, it applies an innovative approach to investigate the predictability of uncertainty measurements of climate initiatives across various market conditions and frequency spillovers in the short, medium and long run.

Findings

The findings indicate changing relationships between the series, increased linkages during turbulent market periods and strong co-movements within the network. The ETS is recommended for diversification and hedging against uncertainty indices, whereas the GB may be suitable for long-term diversification.

Practical implications

This study highlights the role of climate initiatives as potential hedges and contagion amplifiers during crises, with implications for policy recommendations and the asymmetric effects on market connectedness.

Originality/value

The paper answers questions that previous studies have not and contributes to the literature regarding financial risk management and social responsibility.

Details

The Journal of Risk Finance, vol. 25 no. 1
Type: Research Article
ISSN: 1526-5943

Keywords

Article
Publication date: 16 January 2024

Muhammad Jameel Hussain, Dongfang Nie and Adnan Ashraf

Foreign directors from developed nations are significant brain gains for Chinese firms because they improve board competency and board diversity. Therefore, the purpose of this…

Abstract

Purpose

Foreign directors from developed nations are significant brain gains for Chinese firms because they improve board competency and board diversity. Therefore, the purpose of this study is to explore the relationship between foreign directors from developed countries on Chinese listed firms and firms’ green commitment.

Design/methodology/approach

For the empirical analysis, first, this study applies ordinary least square regression and firm fixed model to explore the relationship between foreign directors and green commitment. For the endogeneity concerns, this study first added more control variable in the main model, then applied instrumental variable approach and propensity score matching technique.

Findings

This study predicts and finds that percentage of foreign directors from developed countries on Chinese listed firms’ board positively enhances the firms’ green commitment. Furthermore, this study also finds that the positive relationship between foreign directors and firms’ green commitment is more significant when firms are in a low competitive industry, have no financial constraints and are overseas-listed. This study’s findings are robust after controlling for endogeneity concerns.

Originality/value

This is new research on the impact of foreign directors on corporate green commitment.

Details

Meditari Accountancy Research, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2049-372X

Keywords

Article
Publication date: 31 January 2020

Tanmay Sharma, Joseph Chen and Wan Yu Liu

Theoretical and empirical developments in academic literature have not been able to keep pace with the growing industry focus on eco-innovation and green hospitality practices…

2521

Abstract

Purpose

Theoretical and empirical developments in academic literature have not been able to keep pace with the growing industry focus on eco-innovation and green hospitality practices. This paper aims to address this gap and provide an up-to-date review of research on eco-innovative practices in 13 leading hospitality journals over the past two decades, 1998-2018.

Design/methodology/approach

A systematic review that incorporates the preferred reporting items for systematic reviews and meta-analyses flow diagram is used to guide the data selection for this paper. The paper analyzes 403 studies published in 13 established hospitality journals to identify homogeneous research themes.

Findings

A unified conceptual framework is proposed by identifying seven research domains under eco-innovative practices. Even though research attention on green practices has increased in recent years, the development of conceptual frameworks, appropriate measurement scales and theoretical support for eco-innovative practices is warranted.

Research limitations/implications

Although the paper attempts to include as many environmentally related studies as possible, by being restricted to papers published only in 13 leading hospitality journals, it may not have drawn on all relevant eco-innovation studies in hospitality research.

Originality/value

To the knowledge of the authors, this is the first systematic analysis of hospitality research on eco-innovative practices that reviews such a large number (403) of studies spanning the past two decades (1998-2018). The most recent review by Kim et al. (2017) covered 146 green research studies published between 2000 and 2014; whereas, out of 403 studies reviewed in this study, 231 (57per cent) have been published between 2014 and 2018. This trend is indicative of the fast-evolving nature of sustainability research and the need for an up-to-date systematic review of recent literature in the field.

Details

International Journal of Contemporary Hospitality Management, vol. 32 no. 2
Type: Research Article
ISSN: 0959-6119

Keywords

Article
Publication date: 12 February 2018

Andrew Bratton

The purpose of this paper is to examine the role of strategic talent development in supporting environmental management in the hospitality sector, as well as exploring its…

1151

Abstract

Purpose

The purpose of this paper is to examine the role of strategic talent development in supporting environmental management in the hospitality sector, as well as exploring its practical implications.

Design/methodology/approach

This paper examines a single public sector case study in the hospitality industry, a National Health Service conference centre. This case is part of a larger study in which qualitative and quantitative data were collected in six public and private sector workplaces in Scotland.

Findings

The findings emphasise the key role of leaders as change agents, and in promoting sustainability and encouraging workplace low-carbon behaviours. The findings demonstrate that an inclusive approach to talent development can play a key role in creating a pro-environmental culture and can significantly contribute to the long-term environmental sustainability of organisations.

Research limitations/implications

The scale of the research is limited to one public sector case study and restricted to the Scottish hospitality industry. Extending the research to multiple case studies in both the public and private sector in Scotland would be useful.

Practical implications

This paper makes recommendations about the role of line managers, blended learning strategies, organisational culture and employee participation in supporting workplace learning for sustainability.

Originality/value

This paper examines the role of strategic talent development in supporting environmental sustainability in the hospitality industry and provides unique insight for both academics and practitioners into a single public sector case study.

Details

Worldwide Hospitality and Tourism Themes, vol. 10 no. 1
Type: Research Article
ISSN: 1755-4217

Keywords

Article
Publication date: 12 September 2023

Linda JessicaDe Montreuil Carmona, Anderson Gomes Paes Barretto and Edilson Bacinello

The purpose of this study was to verify the effect of sustainable consumption on the intention and effective purchase of products by young undergraduates, using the framework with…

Abstract

Purpose

The purpose of this study was to verify the effect of sustainable consumption on the intention and effective purchase of products by young undergraduates, using the framework with the dimensions: consciousness for sustainable consumption, moral orientation and environmental concern. The authors also examined the mediation effect of intention and searched for heterogeneities on the purchase of sustainable products when discriminating by product type.

Design/methodology/approach

Sustainable consumption assumes ethics and environmental concern prioritization in the role of individuals to preserve natural resources threatened by global warming. Considering this, the authors developed cross-sectional research based on a sample of 265 Brazilian higher education students, which was analyzed with the use of partial least squares path modeling.

Findings

The results showed a positive relationship between sustainable consumption and buying intention, with mediation effects on the effective purchase of sustainable products. It was evidenced that consciousness for sustainable consumption, moral orientation and environmental concern do not lead directly to the purchase of sustainable products; they are based on the mediation exerted by the intention that purchase materializes in Brazilian, young university students. By analyzing heterogeneities, the authors found that environmental concern may translate into actual purchase when product-oriented.

Originality/value

This study uses the VBN theory to understand the behavioral intentions for the effective purchase of sustainable products, extending the range of sustainable consumption associating factors not analyzed in the higher education context, including nontraditional categories of sustainable products, such as textiles, furniture and wood articles. Moreover, this paper examines the mediation role of intention for effective purchase of sustainable products, identifying product categories that may translate environmental concerns to actual purchases, highlighting the importance of Brazil as an emerging economy that is a leading producer and exporter of organic foods with a growing market for sustainable products.

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