Can board environmental orientation improve US firms' carbon performance? The mediating role of carbon strategy

被引:128
作者
Moussa, Tantawy [1 ,2 ]
Allam, Amir [1 ]
Elbanna, Said [3 ]
Bani-Mustafa, Ahmed [4 ]
机构
[1] Univ Westminster, Westminster Business Sch, London NW1 5LS, England
[2] Cairo Univ, Fac Commerce, Giza, Egypt
[3] Qatar Univ, Coll Business & Econ, Doha, Qatar
[4] ACK, Coll Engn, Kuwait, Kuwait
关键词
board of directors; carbon strategy; environmental performance; environmental sustainability orientation; greenhouse gas emissions; United States; SOCIAL-RESPONSIBILITY STRATEGY; RESOURCE-BASED VIEW; CORPORATE GOVERNANCE; SUSTAINABILITY DISCLOSURE; EXECUTIVE-COMPENSATION; CLIMATE-CHANGE; DIRECTORS; MANAGEMENT; LEGITIMACY; OWNERSHIP;
D O I
10.1002/bse.2351
中图分类号
F [经济];
学科分类号
02 ;
摘要
Overwhelming evidence from prior research suggests a positive association between corporate board characteristics and carbon performance; however, very little is known about the mechanisms linking the two variables. This study attempts to fill this gap by developing and empirically testing a conceptual model that highlights the role of carbon strategy in the relationship between board environmental orientation (BEO) and carbon performance. We argue that BEO can directly and indirectly influence carbon performance through carbon strategy. Using structural equation modelling to analyse data consisting of 2,301 U.S. firm-year observations over the 2005-2015 period, we find that the greater the BEO is, the better its carbon performance (i.e., lower greenhouse gas emissions). The results also provide evidence of the mediating effect of carbon strategy on the relationship between BEO and carbon performance. Splitting the sample into high and low carbon-intensive industries shows a partial mediation effect in high carbon-intensive industries and a full mediation effect in low carbon-intensive industries. The findings of the study and its implications for scholars, policymakers, managers, investors, and environmentalists are discussed.
引用
收藏
页码:72 / 86
页数:15
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