Firm sustainable development and stakeholder engagement: The role of government support
This study examines the sustainable development of Chinese firms in the context of the government implementing environmental policies that support green initiatives, from a resource‐based perspective. Using a sample of Chinese listed firms in the most polluting industries during the period 2001–2015...
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| Published in | Business strategy and the environment Vol. 27; no. 8; pp. 1145 - 1158 |
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| Main Authors | , , , |
| Format | Journal Article |
| Language | English |
| Published |
Chichester
Wiley Periodicals Inc
01.12.2018
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| Subjects | |
| Online Access | Get full text |
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| Abstract | This study examines the sustainable development of Chinese firms in the context of the government implementing environmental policies that support green initiatives, from a resource‐based perspective. Using a sample of Chinese listed firms in the most polluting industries during the period 2001–2015, we find a positive relationship between environmental performance and economic performance. We also find that government‐controlled resources, including bank loans and tax benefits, are the mechanisms through which the effects of environmental investments are transformed into economic gains. Further analyses show that the positive association between environmental and economic performance holds for state‐owned firms only. These results indicate that although “being green” is associated with improvements in firm performance, such a strategy benefits only those firms that receive preferential treatment from the government. This study reveals that the Chinese Government, as the most influential stakeholder, plays an important role in determining the impact of environmental performance on economic performance. |
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| AbstractList | This study examines the sustainable development of Chinese firms in the context of the government implementing environmental policies that support green initiatives, from a resource‐based perspective. Using a sample of Chinese listed firms in the most polluting industries during the period 2001–2015, we find a positive relationship between environmental performance and economic performance. We also find that government‐controlled resources, including bank loans and tax benefits, are the mechanisms through which the effects of environmental investments are transformed into economic gains. Further analyses show that the positive association between environmental and economic performance holds for state‐owned firms only. These results indicate that although “being green” is associated with improvements in firm performance, such a strategy benefits only those firms that receive preferential treatment from the government. This study reveals that the Chinese Government, as the most influential stakeholder, plays an important role in determining the impact of environmental performance on economic performance. Abstract This study examines the sustainable development of Chinese firms in the context of the government implementing environmental policies that support green initiatives, from a resource‐based perspective. Using a sample of Chinese listed firms in the most polluting industries during the period 2001–2015, we find a positive relationship between environmental performance and economic performance. We also find that government‐controlled resources, including bank loans and tax benefits, are the mechanisms through which the effects of environmental investments are transformed into economic gains. Further analyses show that the positive association between environmental and economic performance holds for state‐owned firms only. These results indicate that although “being green” is associated with improvements in firm performance, such a strategy benefits only those firms that receive preferential treatment from the government. This study reveals that the Chinese Government, as the most influential stakeholder, plays an important role in determining the impact of environmental performance on economic performance. |
| Author | Wu, Huiying Ying, Sammy Xiaoyan Quan, Yi Li, Sihai |
| Author_xml | – sequence: 1 givenname: Yi surname: Quan fullname: Quan, Yi organization: Zhongnan University of Economics and Law – sequence: 2 givenname: Huiying surname: Wu fullname: Wu, Huiying organization: School of Business, Western Sydney University – sequence: 3 givenname: Sihai orcidid: 0000-0002-1654-2256 surname: Li fullname: Li, Sihai email: lshhhy0420@163.com organization: School of Accounting, Zhongnan University of Economics and Law – sequence: 4 givenname: Sammy Xiaoyan surname: Ying fullname: Ying, Sammy Xiaoyan organization: Macquarie University |
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| Snippet | This study examines the sustainable development of Chinese firms in the context of the government implementing environmental policies that support green... Abstract This study examines the sustainable development of Chinese firms in the context of the government implementing environmental policies that support... |
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| SubjectTerms | Bank loans Banking Companies Economic analysis Economic performance Environmental impact Environmental management Environmental performance Environmental policy Government government support Impact analysis Investments Loans Organizational performance stakeholder engagement Stakeholders Sustainability Sustainable development Taxation |
| Title | Firm sustainable development and stakeholder engagement: The role of government support |
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