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Corporate sustainability has been a long-established topic in the corporate operating process. Much research focuses on the internal relationships among environmental, social and economic dimensions of corporate sustainability, yet few studies have examined the topic from the perspective of environmental, social and governance (ESG) initiatives and innovative performance. Using insights from stakeholder theory, this study develops theoretical linkages between corporate ESG initiatives and innovative performance. It further considers whether these relationships still exist under different institutional development settings. Based on the samples of 433 observations which are listed on the Shanghai and Shenzhen stock exchanges, in China, from 2007 to 2017, empirical results using the method of hierarchical regression analysis have confirmed that corporate environmental initiatives, social initiatives and governance initiatives have direct positive impacts on innovative performance. Furthermore, in examining the interactive effect of individual dimensions of ESG initiatives, the results reveal that corporate governance initiatives play a moderating role in the relationship between environmental initiatives and innovative performance and in the relationship between social initiatives and innovative performance. Finally, the empirical analyses also show that institutional development influences the effectiveness of corporate governance initiatives. This research contributes to extending the prior literature and providing several recommendations for firms to achieve corporate sustainability.
Qi Zhang; Lawrence Loh; Weiwei Wu. How do Environmental, Social and Governance Initiatives Affect Innovative Performance for Corporate Sustainability? Sustainability 2020, 12, 3380 .
AMA StyleQi Zhang, Lawrence Loh, Weiwei Wu. How do Environmental, Social and Governance Initiatives Affect Innovative Performance for Corporate Sustainability? Sustainability. 2020; 12 (8):3380.
Chicago/Turabian StyleQi Zhang; Lawrence Loh; Weiwei Wu. 2020. "How do Environmental, Social and Governance Initiatives Affect Innovative Performance for Corporate Sustainability?" Sustainability 12, no. 8: 3380.
With the gradual improvement of international treaties, fulfilling corporate environmental responsibility (CER) has evolved into an important strategy for the survival and development of firms. Effectively integrating environmental responsibility into supply chain management has gradually become the focus of scholars and practitioners in light of international competitive challenges. Under the Stackelberg game setting, this study develops quantitative models of two-echelon environmentally responsible closed-loop supply chains (CLSCs) to investigate joint environmental responsibility investment, pricing and collection rate decisions. Considering that demand is sensitive to price and environmental investment, the optimal decisions under the centralized and decentralized scenarios are determined. The analysis shows that corporate environmental responsibility investment is directly proportional to the collection rate and retail price. To identify the best reverse channel structure of environmentally responsible CLSCs, this study proposes three possible decentralized reverse channels, manufacturer-led collection, retailer-led collection and third-party-led collection. The findings reveal that the recycling strategy of third-party-led collection is disadvantageous, and the comparison between manufacturer-led collection and retailer-led collection is determined by transfer price. More precisely, if the transfer price exceeds the average collection profits per used product, the reverse channel structure that the retailer leading is optimal, and otherwise, manufacturer involvement in collection is optimal. Revenue sharing contract through bargaining is an effective coordination scheme to resolve channel conflicts, which shows that the split of surplus profits depends on the negotiation powers of channel members. In addition, this study also shows that retailer-led collection is optimal in the special case that the collection target is imposed by take-back legislations. This study merges corporate environmentally responsible, closed-loop supply chains, and channel coordination strands and contributes to the burgeoning field of environmentally responsible closed-loop supply chains.
Weiwei Wu; Qi Zhang; Zhou Liang. Environmentally responsible closed-loop supply chain models for joint environmental responsibility investment, recycling and pricing decisions. Journal of Cleaner Production 2020, 259, 120776 .
AMA StyleWeiwei Wu, Qi Zhang, Zhou Liang. Environmentally responsible closed-loop supply chain models for joint environmental responsibility investment, recycling and pricing decisions. Journal of Cleaner Production. 2020; 259 ():120776.
Chicago/Turabian StyleWeiwei Wu; Qi Zhang; Zhou Liang. 2020. "Environmentally responsible closed-loop supply chain models for joint environmental responsibility investment, recycling and pricing decisions." Journal of Cleaner Production 259, no. : 120776.