Harnessing third parties as surrogate regulators: achieving environmental outcomes by alternative means

Embedding environment and sustainability into corporate financial decision‐making

“…Wood and Ross (2006) found stakeholder opinion was a main driver for improving a firm's environmental performance with 42 percent of the executives voting it as the most important element. These results underpin the findings by Schmidheiny and Zorraqu'n (1996) and Gunningham et al (1999), proving the effectiveness of market forces as a means to influence investment decisionmaking of firms and the subsequent effect on both environmental and sustainability performance. Esty and Winston (2009) built their conceptual case for sustainability in business on four key elements: revenues, intangibles, costs, and risks ( Figure 1).…”

French Automobiles and the Chinese Boycotts of 2008: Politics Really Does Affect Commerce

“…France furthermore pledged not to support Tibetan independence (Bodeen, 2009). Scholars have previously noted that boycotts can serve as surrogate regulation, substituting for formal governmental intervention in the market (e.g., Gunningham et al, 1999). However, the context of this line of inquiry in the literature has been regulation of product safety or environmental damage.…”

Nongovernmental Organizations in Business and Society, Management, and International Business Research

“…The fourth theme, global governance and standardization, 5 includes 29 articles (or 32% of all articles) and includes two major subthemes. First, studies have dealt with NgO, business, and government initiatives related to global issues (e.g., De george, 2005;Dunfee & Hess, 2000;gunningham et al, 1999;Weber & getz, 2004). a second subtheme is the relationship between compulsory and voluntary regulation on a global level and the role of NgOs in the development of global standards and guidelines (e.g., gilbert & Rasche, 2007;Kolk & van Tulder, 2002;O'Higgins, 2006;Windsor, 2004).…”