This study investigates the relationship between organizational culture and corporate sustainable development (CSD).Organizational culture is measured based on the four types of culture of the competing values framework: i) clan, ii) adhocracy, iii) hierarchy and iv) market type, while CSD was examined as a construct of i) economic, ii) environmental and iii) social dimension. The survey on medium-and large-sized firms in Greece reveals that adhocracy and hierarchy type of organizational culture have a significant effect on CSD. Specifically, adhocracy type is positively related to the environmental dimension of CSD, while hierarchy type is positively related to the economic dimension of CSD.
Purpose
This study aims to investigate the influence of cultural values on perceptions of corporate sustainable development (CSD). In recent years, the intensity of the connection between cultural values and SD has been a heavily debated topic. Subsequently, this issue has gained considerable attention from management academics.
Design/methodology/approach
To shed light on this phenomenon, this study uses econometric techniques (linear regression) and conducts a survey of business executives in medium and large firms to search for evidence that cultural values significantly affect perceptions of CSD.
Findings
The findings indicate that forward-looking executives who envision themselves as individuals rather than members of a group exhibit more positive perceptions of CSD practices than the rest.
Originality/value
To the best of the authors’ knowledge, this is the first empirical assessment of cultural values on the perceptions of the three aspects (economic, social and environmental) of CSD.
This paper discusses the future of the Stability and Growth Pact (hereafter SGP). Although Neoclassical economic models argue that strict fiscal and monetary rules minimize moral hazard and crowding out, in practice many governments adopt fiscal expansion (in recent years in the form of non-standard monetary measures) to mitigate market failures, consequently rethinking monetary rules and targets. Government spending and countercyclical policies are essential tools for soothing business cycles and other market failures. To this end, we empirically test whether current and past forms of the SGP have led to greater convergence, while we critically assess and investigate a possible SGP reform. By adopting more flexible rules, in terms of government spending and fiscal expansion, the Economic and Monetary Union (hereafter EMU) could yield multiple positive spillover effects in long-term economic growth under specific terms and conditions, such as green conditionalities. We conclude that to mitigate the triple crisis threat (economic, environmental and health), what is mostly needed are reforms in the form of fiscal federalism, such as common debt issuance (Eurobonds) that enhance the ability of the EMU to tackle the consequences of the aforementioned crises.
scite is a Brooklyn-based organization that helps researchers better discover and understand research articles through Smart Citations–citations that display the context of the citation and describe whether the article provides supporting or contrasting evidence. scite is used by students and researchers from around the world and is funded in part by the National Science Foundation and the National Institute on Drug Abuse of the National Institutes of Health.