Measuring the impact of circular economy performance on financial performance: The moderating role of stakeholder engagement

被引：13

作者：

Esposito, Benedetta ^{[1
,3
]}

Sica, Daniela ^{[2
]}

Supino, Stefania ^{[2
]}

Malandrino, Ornella ^{[1
]}

机构：

[1] Univ Salerno, Dept Management & Innovat Syst DISA MIS, Salerno, Italy

[2] San Raffaele Univ, Dept Human Sci & Promot Qual Life, Rome, Italy

[3] Univ Salerno, Dept Management & Innovat Syst DISA MIS, I-84084 Salerno, Italy

来源：

BUSINESS STRATEGY AND THE ENVIRONMENT | 2024年 / 33卷 / 06期

关键词：

circular economy; circular economy performance; financial performance; natural resource-based view; stakeholder engagement; stakeholder theory; CORPORATE SOCIAL-RESPONSIBILITY; ENVIRONMENTAL SUSTAINABILITY; GOVERNANCE; DISCLOSURE; DETERMINANTS; DIVERSITY; BARRIERS; POLICY;

D O I：

10.1002/bse.3744

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

This paper investigates whether and to what extent circular economy performance affects the financial performance of a global sample of listed agri-food firms. Furthermore, the potential moderating role of stakeholder engagement in empowering this relationship has been tested. A circular economy performance index has been developed based on Environmental Social and Governance scores reclassified in the light of the reuse, reduce, recovery and recycling (4R) paradigm. Then, a multivariate regression model from 2015 to 2022 has been carried out. A broader theoretical framework has been adopted, combining the natural resource-based view and stakeholder theory. The results show a positive relationship between the circular economy performance, the financial performance and the boosting function played by stakeholder engagement. The study findings provide stimuli for academics and managers to reflect on the profitability of the circular economy and the pivotal role of stakeholder engagement in giving a significant impulse to the circular transition.

引用

页码：5109 / 5126

页数：18