Moving beyond economic criteria: Exploring the social impact of green innovation from the stakeholder management perspective

Tang, Pengcheng; Liu, Xuan; Yao, Hong; Yang, Shuwang

doi:10.1002/csr.2401

Cited by 24 publications

(5 citation statements)

References 65 publications

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“…In light of the widespread and significant interest of all stakeholders in the importance of ESG integration and its standards [120], the focus of the business media on applying ESG standards has increased in recent years. The term ESG includes three indicators: E, which is the indicator through which the environmental activities practiced by the company are measured; S, which measures the company's practices towards suppliers, customers, employees, society, and other stakeholders; and G, which refers to governance standards, including information about the structure of the board of directors, rights, shareholders, functions of boards of directors, and mechanisms for corporate governance [121]. It is one of the most important means of improving the financial performance of companies and enhancing their value [122].…”

Section: Esg Clustermentioning

confidence: 99%

Mapping the Landscape of the Literature on Environmental, Social, Governance Disclosure and Firm Value: A Bibliometric Analysis and Systematic Review

Cai,

Hazaea,

Hael

et al. 2024

Sustainability

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Increased interest in sustainability and related issues has led to the development of disclosed corporate information on environmental, social, and governance (ESG) issues. Additionally, questions have arisen about whether these disclosures affect the firm’s value. Therefore, we conducted a bibliometric analysis coupled with a systematic literature review (SLR) of the current literature in the Scopus database from 2001 to 2023. We utilized VOS viewer, Site Space, and R Studio tools for this analysis. Our findings indicate that the relationship between ESG disclosures and the firm’s value has different effects and that disclosure impacts through various channels, such as increasing stakeholder trust. Moreover, the keyword analysis results before and after 2015 demonstrate significant advancement in the utilization of a theoretical foundation in the literature. Furthermore, China (Country), “Universidad de Salamanca” (University), “Uyar, Ali and García-Sánchez, Isabel-María” (Authors), and “Sustainability” and “Corporate Social Responsibility and Environmental Management” (Journals) were the most contributing and influential in this field. On the other hand, the results revealed six thematic clusters: society, sustainable development, ESG, organization, innovation, and stakeholders. We found promising research paths and emerging themes through content analysis of these clusters, such as sustainability assurance, green innovation, and sustainable development goals (SDGs). This review concludes by providing a roadmap that includes emerging lines of research that can be explored in depth in future studies to promote better and more comprehensive integration to achieve sustainability and maximize firm value.

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Section: Esg Clustermentioning

confidence: 99%

Mapping the Landscape of the Literature on Environmental, Social, Governance Disclosure and Firm Value: A Bibliometric Analysis and Systematic Review

Cai,

Hazaea,

Hael

et al. 2024

Sustainability

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show abstract

“…Social impacts refer to changes in employee behaviour and the social sphere. From the sustainability perspective, new activities and ecological practices can cause considerable behavioural changes (Greenwood et al, 2015) in relationships with stakeholders (Tang et al, 2023).…”

Section: Social Performancementioning

confidence: 99%

The ambiguous effects of eco-innovations: a systematic literature review

Bartoszczuk,

Karman

2024

EiS

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While eco-innovations can help organisations comply with external stakeholders' expectations, they can also lead to unwanted or unexpected effects. This paper aims to explore business management literature addressing the ambiguous effects of eco-innovation. The methods used included a systematic literature review (SLR) in the Scopus and WoS databases and bibliographic techniques. By critically analysing 53 papers, the study identifies four clusters where negative or ambiguous effects of eco-innovations appear: financial, environmental, social and operational performance. The results indicate that strategic eco‐innovation had a significantly adverse impact on corporate financing, caused a decrease in employment, and created tensions for employees. Moreover, the bearing of eco-managerial innovations (eco-design) on performance was not significant. We contribute to the literature by suggesting that eco-innovation does not always generate the expected benefits. What is more, different types of eco-innovation can generate contrasting effects for the organisation and may occur at different times.

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“…Companies in special treatment status (*ST/ST) are removed because they are financially distressed or at risk of being delisted. The inclusion of such companies may affect the reliability of the research conclusion (Tang et al, 2023). Considering the data availability, we also delete companies with missing data.…”

Section: Hypotheses Developmentmentioning

confidence: 99%

Striving for sustainable development: Green financial policy, institutional investors, and corporate ESG performance

Lei,

2023

Corp Soc Responsibility Env

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Environmental, social, and governance (ESG) practices play an increasingly important role in achieving sustainable development goals. Drawing on institutional theory, this paper empirically explores whether and how green financial policy affects corporate ESG performance. Taking China's pilot policy for green finance reform and innovation (GFP) as a quasi‐natural experiment, we employ the difference‐in‐differences model to investigate the causal relationship between green financial policy and corporate ESG performance. We find that the GFP significantly improves corporate ESG performance. The results are robust to a series of checks such as parallel trend examination, placebo test, mitigation of omitted variable bias, alternative variables, and the exclusion of contemporaneous policies. The heterogeneity analysis shows that the positive impact of GFP on corporate ESG performance is more pronounced for firms with tighter financial constraints, higher agency costs, and more external pressures. On this basis, we further document that the positive impact of GFP on corporate ESG performance is more pronounced for investee firms with more institutional ownership. The above findings indicate that the formal institution of government‐led green financial policy can positively affect corporate ESG performance, and market participants‐institutional investors help to strengthen this policy effect. Overall, our study sheds light on the significant role of green financial policy in promoting corporate sustainability.

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Moving beyond economic criteria: Exploring the social impact of green innovation from the stakeholder management perspective

Cited by 24 publications

References 65 publications

Mapping the Landscape of the Literature on Environmental, Social, Governance Disclosure and Firm Value: A Bibliometric Analysis and Systematic Review

Mapping the Landscape of the Literature on Environmental, Social, Governance Disclosure and Firm Value: A Bibliometric Analysis and Systematic Review

The ambiguous effects of eco-innovations: a systematic literature review

Striving for sustainable development: Green financial policy, institutional investors, and corporate ESG performance

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