In the past decade a stream of studies has analyzed the determinants of eco‐innovation. Four main clusters of drivers have been identified in the literature: “technology push,” “market pull,” “regulatory push‐pull,” and “firm specific factors.” Nevertheless, the empirical quantitative and comparative analysis of those clusters is rare, scattered and inconclusive. This article aims to fill this gap by analyzing the determinants of eco‐innovation on the basis of a meta‐analytic study of quantitative empirical studies published over the period 2006 to 2017—a meta‐analysis which accounts for a total of 211,123 firms. The findings show that firms with collaborative networks and/or more environmental concern are more prone to eco‐innovate, emphasizing the role of “technology push” as the main cluster of determinants, regardless of whether a typology of eco‐innovation is included as a moderator in the meta‐analysis. Based on the results of the meta‐analytic study, the paper discusses several courses of action to foster eco‐innovation and achieve environmental benefits.
The adoption of voluntary environmental certifications such as ISO 14001 and Eco‐Management and Audit Scheme (EMAS) has gained momentum in the last two decades. The scholarly literature has analyzed in depth the performance implications of the adoption of these certificates. Yet the findings are scattered and inconclusive. This article aims to shed light on this issue by meta‐analyzing the influence of the adoption of voluntary environmental certifications on corporate environmental performance, drawing on a sample of 53 scholarly studies analyzing a total of 182,926 companies. The findings show a positive influence of ISO 14001 and EMAS certifications on corporate environmental performance. A set of underlying moderating effects are also identified, such as a more pronounced positive effect for adoptions based on environmental innovation and for firms with a more mature certification. Implications for scholars, managers, and other stakeholders are discussed.
This paper examines the influence of the size of firms' board of directors on corporate social performance through a meta-analytic perspective. To that end, a sample of 80 articles that draw on evidence from more than 80,000 international companies, published between 1997 and 2018, was examined. This paper analyzes the moderating effect of a set of corporate governance mechanisms such as board composition and corporate governance systems on the hypothesized relationship between the size of firms' board and corporate social performance. Our central results reveal that larger and more independent boards better represent stakeholders' sensitivities and allow companies to achieve their social objectives. Moreover, that connection is more positive and stronger in companies with more independent boards and in countries that have codified law, which often have fewer mechanisms to protect shareholders' interests. K E Y W O R D S corporate governance, corporate social performance, size of boards, sustainable development
Awareness on issues relating to business ethics in corporate social responsibility (CSR), good corporate governance (GCG), and environmental social governance (ESG) 1 has significantly increased in the last decade in the academic and professional fields. As a consequence, a large number of theoretical and empirical studies, research and professional publications, and guidelines have been published. This trend toward
This study not only revisits, from a meta-analytic perspective, the influence of firms’ boardroom independence on corporate financial performance, but also addresses the way that countries’ social and institutional contexts moderate that connection. A meta-regression covering 126 independent samples reveals that firms’ boardroom independence has a positive and negative effect on accounting and market-based measures of corporate financial performance, respectively. Further analyses reveal that while the firms’ board independence-financial performance connection is stronger in non-communitarian societies, that relationship becomes weaker in countries with greater developed mechanisms to protect the interest of minority investors. These results are robust to different model specifications and to the presence of a set of methodological control variables. Our results are of outstanding relevance for companies’ board composition processes by suggesting the way that corporations should actively re-balance the proportion of independent directors across different social and institutional contexts to ensure their financial success.
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