The Impact of Corporate Sustainability on Organizational Processes and Performance
We investigate the effect of corporate sustainability on organizational processes and performance. Using a matched sample of 180 U.S. companies, we find that corporations that voluntarily adopted sustainability policies by 1993-termed as high sustainability companies-exhibit by 2009 distinct organizational processes compared to a matched sample of companies that adopted almost none of these policies-termed as low sustainability companies. The boards of directors of high sustainability companies are more likely to be formally responsible for sustainability, and top executive compensation incentives are more likely to be a function of sustainability metrics. High sustainability companies are more likely to have established processes for stakeholder engagement, to be more long-term oriented, and to exhibit higher measurement and disclosure of nonfinancial information. Finally, high sustainability companies significantly outperform their counterparts over the long term, both in terms of stock market and accounting performance. This paper was accepted by Bruno Cassiman, business strategy.
The Business Case for Corporate Sustainability:: Literature Review and Research Options
In the last ten years, the notion of a ‘business case’ for corporate sustainability has increasingly been used by the corporate sector, environmental organizations, consultancies and so on, to seek justification for sustainability strategies within organizations. In this paper, we aim to systemize and assess existing research and tools related to this increasingly popular concept. We present a review of (1) theoretical frameworks, (2) instrumental studies aiming to either prove or disprove a hypothesized causal sequence between corporate social or environmental performance and financial performance, (3) descriptive studies examining manager’s actual perceptions and practices, and finally (4) tools. We identify a clearly insufficient understanding of manager’s key arguments or business logic for adopting corporate sustainability strategies (how ‘business cases’ are built, how effective they are and what barriers they face). We attribute this primarily to lack of descriptive research in these areas.
[Editorial] Trade-offs in corporate sustainability: you can't have your cake and eat it
The mainstream of the literature on corporate sustainability follows the win-win paradigm, according to which economic, environmental and social sustainability aspects can be achieved simultaneously; indeed, corporate sustainability has often been defined by the intersection of these three areas. However, given the multi-faceted and complex nature of sustainable development, we argue that trade-offs and conflicts in corporate sustainability are the rule rather than the exception. Turning a blind eye to trade-offs thus results in a limited perspective on corporate contributions to sustainable development. In order to overcome this situation, we propose an initial framework for the analysis of trade-offs in corporate sustainability. By doing so, we pursue two aims. First, the framework serves as a starting point for a more systematic analysis of trade-offs in corporate sustainability, as it identifies different levels and dimensions to characterize such trade-offs. Second, it serves to contextualize the contributions to this special issue on trade-offs in corporate sustainability. Based on the framework, we finally point to some promising avenues for future research on trade-offs in, and a more inclusive notion of, corporate sustainability. Copyright © 2010 John Wiley & Sons, Ltd and ERP Environment.
Governance and sustainability: an investigation into the relationship between corporate governance and corporate sustainability
– The purpose of this paper is to show that corporate governance is fundamental to the continuing operation of any corporation; hence much attention has been paid to the procedures of such governance. Similarly sustainability is fundamental to the continuing operation of any corporation, and is arguably the fashionable concept of the moment. While it is clear what is generally meant by corporate governance it is much less clear what is meant by sustainability and the paper starts by investigating this concept., – For two such fundamental concepts however it would seem that there should be a relationship between the two, although little work has been undertaken on exploring this relationship. The central part of this paper is therefore based upon an exploration of the relationship between governance and sustainability, by investigating the FTSE100 companies and their corporate governance policies., – This analysis found some strengths – and hence cause for optimism – and some weaknesses – and hence cause for concern. Areas where further work is needed are identified., – The paper has implications in enhancing the understanding of the necessary components of corporate governance, although it is necessarily limited by the size of the sample., – This paper increases the understanding of the relationship between corporate governance, sustainability and sustainable development.
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