Institutional Ownership and Greenhouse Gas Emissions: A Comparative Study of the UK and the USA

Benlemlih, Mohammed; Arif, Muhammad; Nadeem, Muhammad

doi:10.1111/1467-8551.12613

Cited by 30 publications

(30 citation statements)

References 66 publications

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“…Second, our results offer new evidence that PCCIs are positively related to increased levels of GHG emissions. Third, our results contribute to the CG and carbon literature (Benlemlih, Arif and Nadeem, 2022;Bui, Houqe and Zaman, 2020) by showing that the presence of a BSCOM is associated with higher GHG emissions. Our results support the symbolic legitimation view (Aslam et al, 2021;Shevchenko, 2021), in that firms that symbolically engage in PCCIs may use the governance mechanism of a BSCOM as an impression management tool for greenwashing purposes to create positive impressions among stakeholders and protect their legitimacy.…”

Section: Discussionsupporting

confidence: 61%

Board Sustainability Committees, Climate Change Initiatives, Carbon Performance, and Market Value

Orazalin

Ntim

Malagila

2023

British J of Management

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We examine the interrelationships among board sustainability committees, process-based climate change initiatives, outcome-based carbon performance, and market value through the lens of economic-and social-based theoretical perspectives. Using a panel dataset of 8408 observations from 35 countries between 2002 and 2019, we find that higher levels of actual greenhouse gas (GHG) emissions are negatively associated with market value. Further, we reveal a positive association between process-based climate change initiatives and market value. We then provide evidence that process-based climate change initiatives are positively related to increased levels of GHG emissions. We also observe that the presence of a board sustainability committee has a positive impact on market value, but does not seem to improve outcome-based carbon performance. Finally, we show that the predicted relationships vary across different country-groups, sector-groups, and periods. Our empirical findings are robust to alternative measures, endogeneities, and sample selection bias. Overall, our evidence supports the symbolic legitimation/greenwashing view, in that firms are likely to employ process-based climate change initiatives under a symbolic approach to create positive impressions among stakeholders and protect their legitimacy.

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Section: Discussionsupporting

confidence: 61%

Board Sustainability Committees, Climate Change Initiatives, Carbon Performance, and Market Value

Orazalin

Ntim

Malagila

2023

British J of Management

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“…Probably, institutional ownership in the agriculture industry does not trigger management to publish more information regarding carbon emissions. The results contradict earlier research in the UK and USA [36] and in Turkey [22].…”

Section: Testing the Determinant Factorscontrasting

confidence: 99%

“…The revelation of the environmental aspects including carbon emission will enhance the company's reputation and contribute to its sustainability [22]. Research suggests that if more institutions owned shares in a corporation, more of its climate change disclosures would be made public [35,36]. When a company is owned by an institution, the owners are more likely to push for transparent reporting of its carbon emissions.…”

Section: Introductionmentioning

confidence: 99%

Carbon emission disclosure in the agriculture industry in Indonesia: The determinant factors

Ika,

Puisi,

Vitaningsih

et al. 2024

IOP Conf. Ser.: Earth Environ. Sci.

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The agriculture industry in Indonesia, despite its huge contribution to the country’s economy, is responsible for a substantial amount of carbon emissions. Hence, according to the country’s stock exchange regulation, agriculturally listed companies shall annually report their carbon emissions and carbon emission mitigation. The main objective of our research is to analyze the factors that influence the reporting of greenhouse gas emissions by agriculture corporations. The examined factors are environmental performance, which is assessed through environmental performance ratings and environmental management certification, the released sustainability report, ownership structure, and financial characteristics. Using 91 publicly traded agriculture companies from 2019 to 2022 as a sample, the ordinally least squares regression analysis shows that publications of a company’s carbon emissions tend to rise in accordance with both the rating of its environmental performance and the issuance of its sustainability report. Institutional ownership and financial characteristics of a company do not have any relationship with the extent of carbon emission disclosures. This study delivers an understanding to the Financial Service Authority Agency that the environmental performance rating assessment by the KLH and the yearly sustainability report encourage companies to do activities related to environmental sustainability.

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“…Firm size is measured by the average annual sales over the past 3 years. In addition, some studies find that enterprises with different owner types have different environmental behaviors, for example, state‐owned corporations are better positioned to absorb additional operating costs but are less adaptable to foreign countries' local environments than non‐state‐owned firms (Benlemlih et al, 2023; Li, Zhang, & Shi, 2020). Thus, we control the ownership of firms.…”

Section: Methodsmentioning

confidence: 99%

Institutional pressures and proactive environmental strategy: The mediating effect of top managerial environment attitude and the moderating effect of new media pressure

Wang

Jiang

et al. 2023

Bus Strat Env

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Proactive environmental strategy (PES) is regarded as an effective tool to mitigate and root out the negative effects of an enterprise's development on the environment. Although institutional pressures have been viewed as major factors that can promote enterprises' PES, the results are still inconsistent. This mixed empirical result leads to a need to unpack the relationship between institutional pressures and PES, like the certain key mediating role of top managerial environment attitude. In addition, with the important role of new media in an enterprise's strategy, new media pressure plays a significant role in the PES field to induce enterprises to make a strategy change. Therefore, combining institutional theory and upper echelon theory, this paper explores the mediating roles of top managerial environment attitude between institutional pressures and PES, and the moderating roles of new media pressure, from a new media perspective. Our research model was tested by survey data from 345 top Chinese managers, and several results are established. First, the top managerial environment attitude significantly mediates the relationship between three institutional pressures and PES. Second, among the three institutional pressures, customer pressure is the most powerful one to influence the top managerial environment attitude toward PES. Third, new media pressure promotes and suppresses the positive effect between customer pressure, competitor pressure, and top managerial environment attitude. To promote the adoption of PES, it is important for top managers and governments to pay close attention to customer, regulatory, and competitor pressures, particularly when these pressures are amplified by new media.

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Institutional Ownership and Greenhouse Gas Emissions: A Comparative Study of the UK and the USA

Cited by 30 publications

References 66 publications

Board Sustainability Committees, Climate Change Initiatives, Carbon Performance, and Market Value

Board Sustainability Committees, Climate Change Initiatives, Carbon Performance, and Market Value

Carbon emission disclosure in the agriculture industry in Indonesia: The determinant factors

Institutional pressures and proactive environmental strategy: The mediating effect of top managerial environment attitude and the moderating effect of new media pressure

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