This document provides an overview of a PhD dissertation proposal on the relationship between board capital and green innovation in Chinese listed firms. The research aims to investigate how board capital impacts green innovation strategies and examines the mediating role of absorptive capacity. It also studies the moderating effect of external governance factors and the relationship between board capital, green innovation, and environmental performance. The study is significant as it addresses gaps in the literature regarding the role of board capital in green innovation, especially in the Chinese context. It contributes to understanding how corporate governance can promote long-term sustainability through building strong boards and environmental strategies.
Imperative of Environmental Cost on Equity and Assets of Quoted Manufacturing...ijtsrd
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This study examine the imperative of environmental cost on equity and assets of quoted manufacturing firms in Nigeria. The study adopts ex post facto, content analysis and regression research design. The research adopts secondary source of data in obtaining all the data needed for the study, extracted from the audited financial statements of the sampled manufacturing firms, which is meticulously examined and relevant data extracted from the period of 2011 2018 for analysis, in line with the main objective. Hypothesis is tested and the results reveals that environmental cost has a significant effect on return on equity and return on assets of quoted manufacturing firms in Nigeria. In consonance with this study's findings, it is recommended that, Firms in Nigeria should invest reasonable amount on environmental issues and report same in their financial reports for the various stakeholders to see. This will create a good relationship with the host community which will enable growth in production and increase in turnover. Dr. Odogu, Laime Isaac | Dadiowei, Opritari Maxwell "Imperative of Environmental Cost on Equity and Assets of Quoted Manufacturing Firms in Nigeria" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-7 | Issue-4, August 2023, URL: https://www.ijtsrd.com/papers/ijtsrd59695.pdf Paper Url:https://www.ijtsrd.com/humanities-and-the-arts/education/59695/imperative-of-environmental-cost-on-equity-and-assets-of-quoted-manufacturing-firms-in-nigeria/dr-odogu-laime-isaac
EFFECT OF ENVIRONMENTAL ORGANIZATION CULTURE, ENVIRONMENTAL LEADERSHIP, GREEN...AJHSSR Journal
Â
ABSTRACT : The purpose of this study was to examine the effect of organizational culture, environmental
leadership and green supply chain on company performance with a moderating variable using green innovation.
The financial reports and sustainability reports of companies listed on the IDX for 2020 and 2021 are the data
used in this study. The population used is companies listed on the Indonesia Stock Exchange (IDX) except for
the financial sector which publish financial reports and reports from 2020 and 2021. The Indonesia Stock
Exchange (IDX) website provides information for this study. There are 369 companies registered during the
study. After removing the outliers. For information, the total number of research samples is 227 samples that fit
the criteria. This lesson uses the purposive sampling method and the OLS analytic model. Significantly, this
study found that organizational culture has a large and negative impact on company and environmental
leadership has a large and negative impact on company performance, while green supply chain does not have a
significant impact on company performance. The moderating variable in this study shows that green innovation
strengthens environmental organizational culture on company performance, but green innovation is not able to
strengthen environmental leadership and green supply chain variables on company performance.
Keywords âEnvironmental Organization Culture, Environmental Leadership, Green Supply Chain, Green
Innovation, Company Performance
Imperative of Environmental Cost on Equity and Assets of Quoted Manufacturing...ijtsrd
Â
This study examine the imperative of environmental cost on equity and assets of quoted manufacturing firms in Nigeria. The study adopts ex post facto, content analysis and regression research design. The research adopts secondary source of data in obtaining all the data needed for the study, extracted from the audited financial statements of the sampled manufacturing firms, which is meticulously examined and relevant data extracted from the period of 2011 2018 for analysis, in line with the main objective. Hypothesis is tested and the results reveals that environmental cost has a significant effect on return on equity and return on assets of quoted manufacturing firms in Nigeria. In consonance with this study's findings, it is recommended that, Firms in Nigeria should invest reasonable amount on environmental issues and report same in their financial reports for the various stakeholders to see. This will create a good relationship with the host community which will enable growth in production and increase in turnover. Dr. Odogu, Laime Isaac | Dadiowei, Opritari Maxwell "Imperative of Environmental Cost on Equity and Assets of Quoted Manufacturing Firms in Nigeria" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-7 | Issue-4, August 2023, URL: https://www.ijtsrd.com/papers/ijtsrd59695.pdf Paper Url:https://www.ijtsrd.com/humanities-and-the-arts/education/59695/imperative-of-environmental-cost-on-equity-and-assets-of-quoted-manufacturing-firms-in-nigeria/dr-odogu-laime-isaac
EFFECT OF ENVIRONMENTAL ORGANIZATION CULTURE, ENVIRONMENTAL LEADERSHIP, GREEN...AJHSSR Journal
Â
ABSTRACT : The purpose of this study was to examine the effect of organizational culture, environmental
leadership and green supply chain on company performance with a moderating variable using green innovation.
The financial reports and sustainability reports of companies listed on the IDX for 2020 and 2021 are the data
used in this study. The population used is companies listed on the Indonesia Stock Exchange (IDX) except for
the financial sector which publish financial reports and reports from 2020 and 2021. The Indonesia Stock
Exchange (IDX) website provides information for this study. There are 369 companies registered during the
study. After removing the outliers. For information, the total number of research samples is 227 samples that fit
the criteria. This lesson uses the purposive sampling method and the OLS analytic model. Significantly, this
study found that organizational culture has a large and negative impact on company and environmental
leadership has a large and negative impact on company performance, while green supply chain does not have a
significant impact on company performance. The moderating variable in this study shows that green innovation
strengthens environmental organizational culture on company performance, but green innovation is not able to
strengthen environmental leadership and green supply chain variables on company performance.
Keywords âEnvironmental Organization Culture, Environmental Leadership, Green Supply Chain, Green
Innovation, Company Performance
An Exploratory Study of Factors Influencing Corporate Sustainability on busin...AkashSharma618775
Â
This study evaluates the effect of corporate sustainability on business performance of manufacturing
industries in USA, from 2012 to 2015. These Manufacturing industries are listed in Corporate Social
Responsibility Hub (CSRHub), Morning Star and Global Reporting Initiative (GRI). All data used in this report
were extracted from 37 manufacturing companiesâ Sustainability, corporate social responsibility (CSR) and
annual reports. These companies are of diverse sectors such as Automobile, Health care, consumer goods, food,
beverages and technology. Quantitative method of research is used in this study; this also includes the use of
explanatory and descriptive research design. The main issues to be discussed in this study are Donation, Incident
rate reduction and Water Recycled as the independent variables, while Revenue is the dependent variable. Data
analysis was carried out using the regression analysis, descriptive statistics and correlation. E-views software
generated the data for further analysis. The findings imply that donation has a positive insignificance effect on
revenue, reduced incident rate reduction had positive significance effect on revenue and water recycling has
negative insignificant effect on revenue. In the future researches, larger samples of companies form diverse sectors
and subsectors should be studied to broaden the research on company performance especially the non-financial
aspect.
An Exploratory Study of Factors Influencing Corporate Sustainability on busin...AkashSharma618775
Â
This study evaluates the effect of corporate sustainability on business performance of manufacturing
industries in USA, from 2012 to 2015. These Manufacturing industries are listed in Corporate Social
Responsibility Hub (CSRHub), Morning Star and Global Reporting Initiative (GRI). All data used in this report
were extracted from 37 manufacturing companiesâ Sustainability, corporate social responsibility (CSR) and
annual reports. These companies are of diverse sectors such as Automobile, Health care, consumer goods, food,
beverages and technology. Quantitative method of research is used in this study; this also includes the use of
explanatory and descriptive research design. The main issues to be discussed in this study are Donation, Incident
rate reduction and Water Recycled as the independent variables, while Revenue is the dependent variable. Data
analysis was carried out using the regression analysis, descriptive statistics and correlation. E-views software
generated the data for further analysis. The findings imply that donation has a positive insignificance effect on
revenue, reduced incident rate reduction had positive significance effect on revenue and water recycling has
negative insignificant effect on revenue. In the future researches, larger samples of companies form diverse sectors
and subsectors should be studied to broaden the research on company performance especially the non-financial
aspect.
The study investigates the analysis on the relationship between green accounting and green design for enterprise. Expost-facto research design was use for the study. The secondary data used in the study covered a period of 10 years (2011-2020) and were sources from Business record of vital foam Nig. Ltd, the data were analyze using multiplied linear regression. From the analysis of the data and test of hypothesis result show green accounting and green design for enterprise have both positive and negative effect on the enterprise but due to external and internal factors. It is on this account that the study therefore recommend that enterprise should make sure they have appropriate and well designed green accounting design to be able to stand the test of time.
Corporate Social Responsibility Reporting on Performance of Oil and Gas Compa...ijtsrd
Â
The study examined the effect of corporate social responsibility reporting on financial performance of Oil and Gas companies in Nigeria. Ex post facto research design and content analysis were adapted. A sample of ten oil and gas companies was selected for the study. The hypothesis was tested using linear regression analysis with the aid of E view 9.0. The study revealed that return on capital employed has insignificant effect on corporate social responsibility of Oil and Gas companies in Nigeria. The study recommended that the external users of corporate social responsibility reports such as the shareholders, local communities, employees and other stakeholders should device appropriate channels by which their demands for such reporting can be adequately pressed upon. Ezekwesili, Tochukwu P. | Emeneka, Ogochukwu L "Corporate Social Responsibility Reporting on Performance of Oil and Gas Companies in Nigeria" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-5 | Issue-6 , October 2021, URL: https://www.ijtsrd.com/papers/ijtsrd47520.pdf Paper URL : https://www.ijtsrd.com/management/accounting-and-finance/47520/corporate-social-responsibility-reporting-on-performance-of-oil-and-gas-companies-in-nigeria/ezekwesili-tochukwu-p
Value Creation Through Corporate Social Responsibility in Developing Countrie...Waqas Tariq
Â
Consumer support for Corporate Social Responsibility (CSR) has been in practice for some years now and firms are demanded to seriously take CSR initiatives. This project has been compiled out of a wealth of literature that addresses the need and importance of CSR and business ethics in the society in great depth. A case study of CSR at Proctor and Gamble Pakistan was carried out by employing both the qualitative and quantitative data collection techniques to gather information so as to bring the attributes of triangulation in this research. The research findings outlined various views and beliefs of the respondents with regards to CSR initiatives by Proctor and Gamble Pakistan. The CSR awareness and societal veracities are the factors that encourage consumers to think ethically and make decisions in terms of who to develop associations with. The research shows a reflection of deductive approach and the researcher understood the inbuilt pros and cons of dependence upon secondary sources of information. It was attempted to adopt a hybrid strategy in this project but it mainly took a positivist look because of the nature of the questionnaire survey based upon close-ended questions aiming for quantitative data. The trend for CSR initiatives in developing countries is now growing at a decent pace and the recent advancements in technology and media have resulted in grown awareness among consumer groups to exert pressures on multinational companies to be apparent in their statements as well as practices.
International Journal of Business and Management Invention (IJBMI) is an international journal intended for professionals and researchers in all fields of Business and Management. IJBMI publishes research articles and reviews within the whole field Business and Management, new teaching methods, assessment, validation and the impact of new technologies and it will continue to provide information on the latest trends and developments in this ever-expanding subject. The publications of papers are selected through double peer reviewed to ensure originality, relevance, and readability. The articles published in our journal can be accessed online.
The impact of CSR on corporate behaviour and performance â by London Business...London Business School
Â
How to achieve Corporate Social Responsibility? Professor Ioannis Ioannouâs research includes a very practical list of what sustainable organisations are doing different.
International Journal of Business and Management Invention (IJBMI)inventionjournals
Â
International Journal of Business and Management Invention (IJBMI) is an international journal intended for professionals and researchers in all fields of Business and Management. IJBMI publishes research articles and reviews within the whole field Business and Management, new teaching methods, assessment, validation and the impact of new technologies and it will continue to provide information on the latest trends and developments in this ever-expanding subject. The publications of papers are selected through double peer reviewed to ensure originality, relevance, and readability. The articles published in our journal can be accessed online.
The Journal will bring together leading researchers, engineers and scientists in the domain of interest from around the world. Topics of interest for submission include, but are not limited to
Novel R&D Capabilities as a Response to ESG Risks-Lessons From Amazonâs Fusio...IJMIT JOURNAL
Â
Environmental, Social, and Governance (ESG) management is essential for transforming corporate
financial performance-oriented business strategies into Finance (F) + ESG optimization strategies to
achieve the Sustainable Development Goals (SDGs).
In this trend, the rise of ESG risks has divided firms into two categories. Former incorporates a growthmindset that creates a passion for learning, and urges it to improve itself by endeavoring Research and
development (R&D) -driven challenges, while the other category, characterized by risk aversion, avoids
challenging highly uncertain R&D activities and seeks more manageable endeavors.
This duality underscores the complexity of corporate R&D strategies in addressing ESG risks and
necessitates the development of novel R&D capabilities for corporate R&D transformation strategies
towards F + ESG optimization.
NOVEL R & D CAPABILITIES AS A RESPONSE TO ESG RISKS- LESSONS FROM AMAZONâS FU...IJMIT JOURNAL
Â
Environmental, Social, and Governance (ESG) management is essential for transforming corporate
financial performance-oriented business strategies into Finance (F) + ESG optimization strategies to
achieve the Sustainable Development Goals (SDGs).
In this trend, the rise of ESG risks has divided firms into two categories. Former incorporates a growthmindset that creates a passion for learning, and urges it to improve itself by endeavoring Research and
development (R&D) -driven challenges, while the other category, characterized by risk aversion, avoids
challenging highly uncertain R&D activities and seeks more manageable endeavors.
This duality underscores the complexity of corporate R&D strategies in addressing ESG risks and
necessitates the development of novel R&D capabilities for corporate R&D transformation strategies
towards F + ESG optimization.
Building on this premise, this paper conducts an empirical analysis, utilizing reliable firms data on ESG
risk and brand value, with a focus on 100 global R&D leader firms. It analyzes R&D and actions for ESG
risk mitigation, and assesses the development of new functions that fulfill F + ESG optimization through
R&D. The analysis also highlights the significance of network externality effects, with a specific focus on
Amazon, a leading R&D company, providing insights into the direction for transforming R&D strategies
towards F + ESG optimization.
The dynamics of stakeholder engagement in F + ESG optimization are indicated with the example of
amazon's activities. Through the analysis, it became evident that Amazon's capacity encompassing growth
and scalability, specifically its ability to grow and expand, is accelerating high-level research and
development by gaining the trust of stakeholders in the "synergy through R&D-driven ESG risk
mitigation."
Finally, as examples of these initiatives, the paper discussed the Climate Pledge led by Amazon and the
transformation of Japan's management system.
GREEN INNOVATION STRATEGY TO ENHANCE COMPETITIVENESS AND PERFORMANCE OF SMEs ...indexPub
Â
This research points to analyze the effect of green innovation strategy on competitiveness, the impact of green innovation strategy on performance, the impact of competitiveness on performance, and the impact of green innovation strategy on performance through the mediating role of competitiveness in SMEs in South Sulawesi. The analysis methods used were: (1) Descriptive Analysis, (2) Structural Equation Modelling (SEM).
LA HUG - Video Testimonials with Chynna Morgan - June 2024Lital Barkan
Â
Have you ever heard that user-generated content or video testimonials can take your brand to the next level? We will explore how you can effectively use video testimonials to leverage and boost your sales, content strategy, and increase your CRM data.đ€Ż
We will dig deeper into:
1. How to capture video testimonials that convert from your audience đ„
2. How to leverage your testimonials to boost your sales đČ
3. How you can capture more CRM data to understand your audience better through video testimonials. đ
Implicitly or explicitly all competing businesses employ a strategy to select a mix
of marketing resources. Formulating such competitive strategies fundamentally
involves recognizing relationships between elements of the marketing mix (e.g.,
price and product quality), as well as assessing competitive and market conditions
(i.e., industry structure in the language of economics).
An Exploratory Study of Factors Influencing Corporate Sustainability on busin...AkashSharma618775
Â
This study evaluates the effect of corporate sustainability on business performance of manufacturing
industries in USA, from 2012 to 2015. These Manufacturing industries are listed in Corporate Social
Responsibility Hub (CSRHub), Morning Star and Global Reporting Initiative (GRI). All data used in this report
were extracted from 37 manufacturing companiesâ Sustainability, corporate social responsibility (CSR) and
annual reports. These companies are of diverse sectors such as Automobile, Health care, consumer goods, food,
beverages and technology. Quantitative method of research is used in this study; this also includes the use of
explanatory and descriptive research design. The main issues to be discussed in this study are Donation, Incident
rate reduction and Water Recycled as the independent variables, while Revenue is the dependent variable. Data
analysis was carried out using the regression analysis, descriptive statistics and correlation. E-views software
generated the data for further analysis. The findings imply that donation has a positive insignificance effect on
revenue, reduced incident rate reduction had positive significance effect on revenue and water recycling has
negative insignificant effect on revenue. In the future researches, larger samples of companies form diverse sectors
and subsectors should be studied to broaden the research on company performance especially the non-financial
aspect.
An Exploratory Study of Factors Influencing Corporate Sustainability on busin...AkashSharma618775
Â
This study evaluates the effect of corporate sustainability on business performance of manufacturing
industries in USA, from 2012 to 2015. These Manufacturing industries are listed in Corporate Social
Responsibility Hub (CSRHub), Morning Star and Global Reporting Initiative (GRI). All data used in this report
were extracted from 37 manufacturing companiesâ Sustainability, corporate social responsibility (CSR) and
annual reports. These companies are of diverse sectors such as Automobile, Health care, consumer goods, food,
beverages and technology. Quantitative method of research is used in this study; this also includes the use of
explanatory and descriptive research design. The main issues to be discussed in this study are Donation, Incident
rate reduction and Water Recycled as the independent variables, while Revenue is the dependent variable. Data
analysis was carried out using the regression analysis, descriptive statistics and correlation. E-views software
generated the data for further analysis. The findings imply that donation has a positive insignificance effect on
revenue, reduced incident rate reduction had positive significance effect on revenue and water recycling has
negative insignificant effect on revenue. In the future researches, larger samples of companies form diverse sectors
and subsectors should be studied to broaden the research on company performance especially the non-financial
aspect.
The study investigates the analysis on the relationship between green accounting and green design for enterprise. Expost-facto research design was use for the study. The secondary data used in the study covered a period of 10 years (2011-2020) and were sources from Business record of vital foam Nig. Ltd, the data were analyze using multiplied linear regression. From the analysis of the data and test of hypothesis result show green accounting and green design for enterprise have both positive and negative effect on the enterprise but due to external and internal factors. It is on this account that the study therefore recommend that enterprise should make sure they have appropriate and well designed green accounting design to be able to stand the test of time.
Corporate Social Responsibility Reporting on Performance of Oil and Gas Compa...ijtsrd
Â
The study examined the effect of corporate social responsibility reporting on financial performance of Oil and Gas companies in Nigeria. Ex post facto research design and content analysis were adapted. A sample of ten oil and gas companies was selected for the study. The hypothesis was tested using linear regression analysis with the aid of E view 9.0. The study revealed that return on capital employed has insignificant effect on corporate social responsibility of Oil and Gas companies in Nigeria. The study recommended that the external users of corporate social responsibility reports such as the shareholders, local communities, employees and other stakeholders should device appropriate channels by which their demands for such reporting can be adequately pressed upon. Ezekwesili, Tochukwu P. | Emeneka, Ogochukwu L "Corporate Social Responsibility Reporting on Performance of Oil and Gas Companies in Nigeria" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-5 | Issue-6 , October 2021, URL: https://www.ijtsrd.com/papers/ijtsrd47520.pdf Paper URL : https://www.ijtsrd.com/management/accounting-and-finance/47520/corporate-social-responsibility-reporting-on-performance-of-oil-and-gas-companies-in-nigeria/ezekwesili-tochukwu-p
Value Creation Through Corporate Social Responsibility in Developing Countrie...Waqas Tariq
Â
Consumer support for Corporate Social Responsibility (CSR) has been in practice for some years now and firms are demanded to seriously take CSR initiatives. This project has been compiled out of a wealth of literature that addresses the need and importance of CSR and business ethics in the society in great depth. A case study of CSR at Proctor and Gamble Pakistan was carried out by employing both the qualitative and quantitative data collection techniques to gather information so as to bring the attributes of triangulation in this research. The research findings outlined various views and beliefs of the respondents with regards to CSR initiatives by Proctor and Gamble Pakistan. The CSR awareness and societal veracities are the factors that encourage consumers to think ethically and make decisions in terms of who to develop associations with. The research shows a reflection of deductive approach and the researcher understood the inbuilt pros and cons of dependence upon secondary sources of information. It was attempted to adopt a hybrid strategy in this project but it mainly took a positivist look because of the nature of the questionnaire survey based upon close-ended questions aiming for quantitative data. The trend for CSR initiatives in developing countries is now growing at a decent pace and the recent advancements in technology and media have resulted in grown awareness among consumer groups to exert pressures on multinational companies to be apparent in their statements as well as practices.
International Journal of Business and Management Invention (IJBMI) is an international journal intended for professionals and researchers in all fields of Business and Management. IJBMI publishes research articles and reviews within the whole field Business and Management, new teaching methods, assessment, validation and the impact of new technologies and it will continue to provide information on the latest trends and developments in this ever-expanding subject. The publications of papers are selected through double peer reviewed to ensure originality, relevance, and readability. The articles published in our journal can be accessed online.
The impact of CSR on corporate behaviour and performance â by London Business...London Business School
Â
How to achieve Corporate Social Responsibility? Professor Ioannis Ioannouâs research includes a very practical list of what sustainable organisations are doing different.
International Journal of Business and Management Invention (IJBMI)inventionjournals
Â
International Journal of Business and Management Invention (IJBMI) is an international journal intended for professionals and researchers in all fields of Business and Management. IJBMI publishes research articles and reviews within the whole field Business and Management, new teaching methods, assessment, validation and the impact of new technologies and it will continue to provide information on the latest trends and developments in this ever-expanding subject. The publications of papers are selected through double peer reviewed to ensure originality, relevance, and readability. The articles published in our journal can be accessed online.
The Journal will bring together leading researchers, engineers and scientists in the domain of interest from around the world. Topics of interest for submission include, but are not limited to
Novel R&D Capabilities as a Response to ESG Risks-Lessons From Amazonâs Fusio...IJMIT JOURNAL
Â
Environmental, Social, and Governance (ESG) management is essential for transforming corporate
financial performance-oriented business strategies into Finance (F) + ESG optimization strategies to
achieve the Sustainable Development Goals (SDGs).
In this trend, the rise of ESG risks has divided firms into two categories. Former incorporates a growthmindset that creates a passion for learning, and urges it to improve itself by endeavoring Research and
development (R&D) -driven challenges, while the other category, characterized by risk aversion, avoids
challenging highly uncertain R&D activities and seeks more manageable endeavors.
This duality underscores the complexity of corporate R&D strategies in addressing ESG risks and
necessitates the development of novel R&D capabilities for corporate R&D transformation strategies
towards F + ESG optimization.
NOVEL R & D CAPABILITIES AS A RESPONSE TO ESG RISKS- LESSONS FROM AMAZONâS FU...IJMIT JOURNAL
Â
Environmental, Social, and Governance (ESG) management is essential for transforming corporate
financial performance-oriented business strategies into Finance (F) + ESG optimization strategies to
achieve the Sustainable Development Goals (SDGs).
In this trend, the rise of ESG risks has divided firms into two categories. Former incorporates a growthmindset that creates a passion for learning, and urges it to improve itself by endeavoring Research and
development (R&D) -driven challenges, while the other category, characterized by risk aversion, avoids
challenging highly uncertain R&D activities and seeks more manageable endeavors.
This duality underscores the complexity of corporate R&D strategies in addressing ESG risks and
necessitates the development of novel R&D capabilities for corporate R&D transformation strategies
towards F + ESG optimization.
Building on this premise, this paper conducts an empirical analysis, utilizing reliable firms data on ESG
risk and brand value, with a focus on 100 global R&D leader firms. It analyzes R&D and actions for ESG
risk mitigation, and assesses the development of new functions that fulfill F + ESG optimization through
R&D. The analysis also highlights the significance of network externality effects, with a specific focus on
Amazon, a leading R&D company, providing insights into the direction for transforming R&D strategies
towards F + ESG optimization.
The dynamics of stakeholder engagement in F + ESG optimization are indicated with the example of
amazon's activities. Through the analysis, it became evident that Amazon's capacity encompassing growth
and scalability, specifically its ability to grow and expand, is accelerating high-level research and
development by gaining the trust of stakeholders in the "synergy through R&D-driven ESG risk
mitigation."
Finally, as examples of these initiatives, the paper discussed the Climate Pledge led by Amazon and the
transformation of Japan's management system.
GREEN INNOVATION STRATEGY TO ENHANCE COMPETITIVENESS AND PERFORMANCE OF SMEs ...indexPub
Â
This research points to analyze the effect of green innovation strategy on competitiveness, the impact of green innovation strategy on performance, the impact of competitiveness on performance, and the impact of green innovation strategy on performance through the mediating role of competitiveness in SMEs in South Sulawesi. The analysis methods used were: (1) Descriptive Analysis, (2) Structural Equation Modelling (SEM).
LA HUG - Video Testimonials with Chynna Morgan - June 2024Lital Barkan
Â
Have you ever heard that user-generated content or video testimonials can take your brand to the next level? We will explore how you can effectively use video testimonials to leverage and boost your sales, content strategy, and increase your CRM data.đ€Ż
We will dig deeper into:
1. How to capture video testimonials that convert from your audience đ„
2. How to leverage your testimonials to boost your sales đČ
3. How you can capture more CRM data to understand your audience better through video testimonials. đ
Implicitly or explicitly all competing businesses employ a strategy to select a mix
of marketing resources. Formulating such competitive strategies fundamentally
involves recognizing relationships between elements of the marketing mix (e.g.,
price and product quality), as well as assessing competitive and market conditions
(i.e., industry structure in the language of economics).
An introduction to the cryptocurrency investment platform Binance Savings.Any kyc Account
Â
Learn how to use Binance Savings to expand your bitcoin holdings. Discover how to maximize your earnings on one of the most reliable cryptocurrency exchange platforms, as well as how to earn interest on your cryptocurrency holdings and the various savings choices available.
Recruiting in the Digital Age: A Social Media MasterclassLuanWise
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In this masterclass, presented at the Global HR Summit on 5th June 2024, Luan Wise explored the essential features of social media platforms that support talent acquisition, including LinkedIn, Facebook, Instagram, X (formerly Twitter) and TikTok.
Top mailing list providers in the USA.pptxJeremyPeirce1
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Discover the top mailing list providers in the USA, offering targeted lists, segmentation, and analytics to optimize your marketing campaigns and drive engagement.
VAT Registration Outlined In UAE: Benefits and Requirementsuae taxgpt
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Vat Registration is a legal obligation for businesses meeting the threshold requirement, helping companies avoid fines and ramifications. Contact now!
https://viralsocialtrends.com/vat-registration-outlined-in-uae/
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Discover the innovative and creative projects that highlight my journey throu...dylandmeas
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Discover the innovative and creative projects that highlight my journey through Full Sail University. Below, youâll find a collection of my work showcasing my skills and expertise in digital marketing, event planning, and media production.
1. äžćèŽąç»ć€§ćŠ
Dongbei University of Finance and Economics
Applicant:ć°€ç怫
PhD Supervisor: çæ»Ą
Dalian, 2021/04
Title
Board capital and green innovation: Evidence from Chinese listed firms
School of Business Administration
2. PRESENTATION CONTENTS
ï” Introduction
ï” Research Motivation and Objectives
ï” Conceptual framework
ï” Theoretical framework
ï” Practical value
ï” Research gap and Significance of the study
ï” Literature review and Hypothesis development
ï” Research Methods
ï” Innovation points
2
4. INTRODUCTION
ï§ Chinaâs unmatched economic growth is accompanied by different political, social, and environmental challenges.
ï§ Its CO2 emissions witnessed a growth of 1.2 percent per year over the 2010-2019 period.
ï§ China is ranked number one in the world with 10,174.68 Metric tons of CO2 emissions in 2019.
ï§ Confronted with massive environmental challenges, Chinese firms, in particular, initiated various plans to integrate environmental
issues into their business strategies.
ï§ In the given context, Green Innovation has emerged as a key strategic tool to achieve sustainable development.
ï§ As green innovation has strategic relevance, researchers are finding corporate governance answers to improve it.
ï§ Corporate governance nowadays revolves around Boards (Naciti, 2019).
ï§ Firms too, in todayâs world tend to have boards even when they are not legally required to have one (Villalonga et al., 2019).
ï§ Boards are expected to exert an increasingly active role towards organizational prosperity (Lai et al., 2019; Martin et al., 2015) and
green innovation performance (Galia et al., 2015; He and Jiang, 2019).
ï§ In spite of this, Board Capital which captures the boardâs intrinsic ability to perform (Fernandez et al., 2019), has not been examined
in terms of Green Innovation.
ï§ The current study purports to fill this gap by examining in-depth, how board capital and its facets (Human and Social capital) impact
green innovation.
6. CHINESE CONTEXT
ï§ China is the second-largest economy in the world, has several internationally prominent companies (Zhao, 2018), and unique corporate
governance issues, demanding specific solutions (Jiang and Kim, 2015).
ï§ China is also of particular interest to researchers considering special principal-principal agency problems (Jiang and Kim, 2015, 2020;
Sabbaghi, 2016).
ï§ SOEs currently account for one-third of all firms (Jiang and Kim, 2020).
ï§ Although the state retains a stronghold and pursues various public goals, empirical evidence depicts, SOEs exhibit poor performance in China
(Chang and Wong, 2004, 2009; Huangnan et al., 2020; Liu et al., 2012; Sun and Tong, 2003).
ï§ Board independence, which traditionally assumed to bring independent thought (Syahrina et al., 2016), better monitoring (Fama, 1980; Fama
and Jensen, 1983), and resource provision (Chen et al., 2016), does not improve firm performance in China (Farag and Mallin, 2017; Liu et al.,
2014).
ï§ Institutional owners, which are a strong external governance tool, on average hold stocks for only two months, which means they have shorter
time horizons in China (Jiang and Kim, 2015).
ï§ Simply increasing board size also doesnât lead to superior firm performance in China (Zheng and Tsai, 2019).
ï§ Additionally, the extant literature exhibits departures in terms of the green innovation research at the country level, whereas most of the
research has been done in Europe or the USA.
ï§ Despite continuously exacerbated environmental concerns, a limited number of studies have been carried out in developing countries
(Dangelico, 2016) and there have been calls for further investigation of green innovation in emerging markets such as China (Seebode et al.,
2012; Zhang, Zeng, et al., 2020).
ï§ In the Chinese context, infringements of environmental regulations may cause business shutdowns. Applying green innovation may avoid
such likelihood. Hence, it is essential to fill the gaps in the literature by having more studies from China.
8. Motivation and Research Objectives
Motivated by prevalent corporate governance problems in China and a lack of research on the relationship
between board capital and firmâs strategic decision of green innovation, this study primarily purposes to
investigate the effect of board capital on green innovation strategies and explore the mechanism through which
board capital impacts green innovation.
In addition, it also purports to investigate; how external governance moderates the influence of board capital on
green innovation, and how board capital, green innovation, and the firmâs environmental performance are related.
Accordingly, this study attempts to fulfill four key objectives with their sub-objectives:
Objective 1. To empirically investigate the relationship between board capital and green
innovation in the Chinese non-financial listed companies. To achieve this key objective,
this study tends to address the following sub-objectives:
I. To examine the impact boardâs human capital on green innovation in Chinese listed companies.
II. To examine the impact of boardâs social capital on green innovation in Chinese listed companies.
III. To examine the impact of overall board capital on green innovation in Chinese listed companies.
9. RESEARCH OBJECTIVES CONTINUEâŠ
Objective 2. To empirically investigate the mechanism (absorptive capacity) through which board capital impacts green innovation in the Chinese non-financial listed
companies. To achieve this key objective, this study tends to address the following sub-objectives:
I. To examine the mediating effect of absorptive capacity on boardâs human capital and green innovation relationship in Chinese listed companies.
II. To examine the mediating effect of absorptive capacity on boardâs social capital and green innovation relationship in the Chinese listed companies
III. To examine the mediating effect of absorptive capacity on overall board capital and green innovation relationship in the Chinese listed companies.
Objective 3. To empirically examine the moderating effect of external governance on the relationship between board capital and green innovation in the Chinese non-
financial listed companies . To achieve this key objective, this study tends to address the following sub-objectives:
I. To examine the moderating effect of audit quality on the effect of boardâs human capital on green innovation in Chinese listed companies
II. To examine the moderating effect of audit quality on the effect of boardâs social capital on green innovation in Chinese listed companies
III. To examine the moderating effect of audit quality on the effect of overall board capital on green innovation in Chinese listed companies
IV. To examine the moderating effect of imitative pressure on the effect of boardâs human capital on green innovation in Chinese listed companies
V. To examine the moderating effect of imitative pressure on the effect of boardâs social capital on green innovation in Chinese listed companies
VI. To examine the moderating effect of imitative pressure on the effect of overall board capital on green innovation in Chinese listed companies
VII. To examine the moderating effect of media coverage on the effect of boardâs human capital on green innovation in Chinese listed companies
VIII. To examine the moderating effect of media coverage on the effect of boardâs social capital on green innovation in Chinese listed companies
IX. To examine the moderating effect of media coverage on the effect of overall board capital on green innovation in Chinese listed companies
Objective 4. To empirically investigate the association between board capital, green innovation, and firmâs environmental performance in the Chinese non-financial listed
companies . To achieve this key objective, this study tends to address the following sub-objectives:
I. To examine the impact of board capital on environmental performance.
II. To examine the impact of green innovation on environmental performance.
III. To examine the mediating impact of green innovation on the board capital-environmental performance relationship.
10. Board capital
External governance
Audit Quality Media coverage
Absorptive capacity
Imitative
pressure
Green innovation
Conceptual framework
Board capital and green innovation: Evidence from Chinese Listed firms
Control variables
Board size
Board independence
Board diversity
Duality
Ownership concentration
Firm size
Firm age
Profitability
Leverage
Capital intensity
Environmental regulations
Analyst coverage
Environmental
Performance
12. THEORETICAL FRAMEWORK
The literature on board capital and green innovation documents the most relevant
theoretical perspectives including agency theory, resource dependency theory, upper
echelons theory, socio-cognitive theory, legitimacy theory, and stakeholder theory (Chen et
al., 2016; Fernandez et al., 2019; He and Jiang, 2019; Hillman and Dalziel, 2003; Takalo et
al., 2021).
Studies examining the nexus between board characteristics and organizational outcomes
usually follow agency theory (Bathala and Rao, 1995; Fama, 1980; Fama and Jensen,
1983; Guilding et al., 2005), resource dependence theory (Davis and Cobb, 2010; Drees
and Heugens, 2013; Hillman et al., 2000; Pfeffer and Salancik, 1978) or a combination of
these two authoritative perspectives (Aggarwal et al., 2019; Chen et al., 2016).
13. THEORETICAL FRAMEWORK CONTINUESâŠ
First, studies that follow the agency theory perspective, posit that a key responsibility of the board is monitoring
management on behalf of shareholders, especially through independent directors that can improve firm
performance by reducing agency costs (Al-najjar, 2014; Cornelli et al., 2013; Fama, 1980; Fama and Jensen,
1983; Kor and Sundaramurthy, 2009).
Second, resource dependence theory suggests that, since no firm is self-sufficient, corporate boards play a
crucial role in providing access to critical external resources and information advantageous to firms (Davis and
Cobb, 2010; Horton et al., 2012; Pfeffer and Salancik, 1978). The firms look for board members with experience
and outside links to enhance their resources (Daily and Dalton, 1994).
Third, studies that simultaneously use agency and resource dependence views, argue that missing one
perspective contributes to an incomplete understanding of what board do and how they influence firm
performance (Bammens et al., 2011; Hillman and Dalziel, 2003; Maere et al., 2014; Pugliese et al., 2014).
Hillman and Dalziel (2003) integrate the two views using the terminology of board capital and argue that board
capital affects both monitoring and resource provision roles of the board while board incentives such as
independence, ownership, etc. do not directly impact firm performance. Accordingly, the study argues that
board capital due to improved monitoring and resource provision improves green innovation.
14. THEORETICAL FRAMEWORK
3. Upper echelons theory sheds light on how directorâs and top management teamâs skills,
knowledge, experiences, and personalities influence their decision-making process (Hambrick,
2007; Hambrick and Mason, 1984). As green innovation is regarded as a strategic decision
(Walton et al., 1998), top executivesâ cognitive base and decisions are expected to influence
green innovation choices. From this perspective, directors that have a high board capital, in the
form of education, expertise, and connections, affect firm strategic decisions of green
innovation (Ă berg and Torchia, 2020; RamĂłn-llorens et al., 2019).
4. The socio-cognitive perspective on organizational decision-making suggests that individuals
cope with complex decision-making tasks by relying upon the knowledge structures they have
developed about their environment (Carpenter and Westphal, 2001; Kiesler and Sproull, 1982).
When these individuals face uncertainty or donât have clarity of their decision outcomes (such
as in the case of green innovation), they tend to follow a theory-driven rather than data-driven
approach to make decisions. Thus, from this viewpoint also, board members are likely to use
knowledge structures developed from their experience in different environments including other
boards when making decisions (Carpenter and Westphal, 2001) .
15. PRACTICAL VALUE
The proposed dissertation provides numerous dimensions of practical value.
First, it addresses the problem of fragile corporate governance mechanisms (i.e. board independence, institutional investors, etc.) in the Chinese context and provides an
alternative solution to overcome this weakness by raising board capital and increasing the role of external governance in China. Identifying the weaknesses of current
corporate governance mechanisms and providing an alternative solution in the name of board capital, is very beneficial and extremely important for investors, management,
and policy makers.
Second, as this is the first empirical study that comprehensively examines the role of board capital in the strategically important decision of green innovation, the nexus
between board capital and green innovation will help practitioners in China to pay rigorous attention to board memberâs education, experience, and external links for
addressing environmental concerns and sustainable development.
Third, as this study explores the mediating role of absorptive capacity, it underlines that firmâs ability to adapt to rapidly changing external environment is critical for
sustainable development and long-term survival. This has implications for management and policy-makers.
Fourth, the study highlights the importance of three unique external governance mechanisms namely audit quality, imitative pressure and media coverage. These
mechanisms are of practical value to policy-makers for countries where corporate governance systems are still evolving and firm performance is compromised due to
agency problems.
Fifth, the current study links board capital and green innovation to environmental performance. Since environmental concerns have become a global agenda and firms are
increasingly facing pressures from divergent stakeholders to balance among cash flows, profitability, and environmental protection (Dangelico, 2016), regulatory bodies
using current study outcomes, can formulate new corporate governance policies that favor green innovation and environmental protection.
Sixth, the study has implications for shareholders and nomination committee as they may select individuals with better skills, education, expertise, and links to the outside
world, that provide long-term organizational success.
Seventh, conducting this study in emerging country China provides value to academicians. China has a commitment in UN to cut CO2 emissions by 2030, it has a unique
regularity and corporate governance environment. Green innovation has more value to firms in China. All this make China a special case to research the corporate
governance antecedents of green innovation in China.
Lastly, the proposed dissertation provides a comprehensive picture of how corporate governance (board capital) improves green organizational culture which eventually
provides sustainable firm performance. Thus, findings also will enable firm managers to develop a green innovation technology culture.
17. Research Gap and Significance of the Study
Research Gap
1. Board capital, through active monitoring and resource provision, enhances organizational outcomes
(Chen et al., 2016; Chen, 2014; Ooi et al., 2015). However, it has not been examined in terms of green
innovation.
2. Many studies on board capital have been undertaken in developed economies (Chen, 2014; Maere et
al., 2014; RamĂłn-llorens et al., 2019), but very few have been performed in developing economies
explicitly addressing board capital and organizational outcomes (Ooi et al., 2015).
3. The Chinese market has a unique financial system and corporate governance mechanisms still
evolving. Board independence and institutional ownership do not resolve the governance issues in
China (Jiang and Kim, 2015).
4. Green innovation has gathered the utmost attention in recent times owing to international commitments
of China (Zhang, Zeng, et al., 2020).
5. Although different studies have examined the corporate governance antecedents of green innovation
(He and Jiang, 2019; Usman et al., 2020), but the role of board capital has not been thoroughly
examined. This dissertation shall address this literature gap by examining in-depth how board capital
influences the strategically important green innovation decision in China.
18. Research Gap and Significance of the Study ContinuesâŠ
Research Gap continues..
6. Another unexplored area in literature so far is the mechanism of absorptive capacity through
which board capital influences strategic decisions of green innovation.
7. Besides, prior studies have not explored the factors that moderate the impact of board capital on
green innovation.
8. Although the literature has underlined the impact of green innovation on environmental
performance (Carrion-Flores and Innes, 2010), but it did not account for the link between board
capital, green innovation, and firmâs environmental performance.
19. Research Gap and Significance of the Study ContinuesâŠ
Significance of the Study
1. Understanding the association between board capital and firm strategic decisions helps in building strong boards that
focus on long-term rather than short organization success. As board capital focuses on the intrinsic abilities of the board
members (Ă berg and Torchia, 2020), it will mitigate the inefficiencies prevalent in the board rooms.
2. The present study emphasizes the importance of boardâs human and social capital for proactive environmental
strategies, by providing a comprehensive mechanism through which corporate governance contributes towards the
firmâs environmental performance.
3. The current study underlines the fact that by impacting green innovation and environmental performance, board capital
facilitates firms to not only satisfy legitimacy but also stakeholder requirements in terms of environment.
4. The current study is also consistent with research highlighting board diversity for green innovation (Galia et al., 2015; He
and Jiang, 2019) because directors having more education, experience, and external links inherently carry diversity.
5. The study has significance in the Chinese context. Chinese listed companies are considered to have independent
directors who are independent in name only and they do not play a significant monitoring role in China (Farag and
Mallin, 2017; Li and Naughton, 2007). The responsibilities for misconduct are severe for insiders as compared to outside
directors (Cai, 2017). The state is the majority controller in most of the firms. According to Cai (2017), â it is very difficult
for independent directors to effectively monitor the companyâs controlling shareholders who nominate and elect them,
particularly within the unique Chinese social contextâ. The role of supervisory directors as effective monitors in China is
compromised too (Clarke, 2006). Institutional investors in China on average hold stocks for two months, thus having
short-term horizons (Jiang and Kim, 2015). In this vein, board capital (as an alternative governance mechanism) can
mitigate the governance problems in China.
21. HYPOTHESIS OVERVIEW
1. Board Capital and Green Innovation
H1a: Board human capital positively impacts green innovation in China.
H1b: Board social capital positively impacts green innovation in China.
H1c: Overall board capital positively impacts green innovation in China.
2. Absorptive Capacity, Board Capital and Green Innovation
H2a: Absorption capacity mediates the positive relationship between board human capital and green innovation in China.
H2b: Absorption capacity mediates the positive relationship between board social capital and green innovation in China.
H2c: Absorption capacity mediates the positive relationship between board capital and green innovation in China.
3. External Governance, Board Capital and Green Innovation
H3a: Audit quality positively moderates the relationship between board human capital and green innovation in China.
H3b: Audit quality positively moderates the relationship between board social capital and green innovation in China.
H3c: Audit quality positively moderates the relationship between board capital and green innovation in China.
H4a: Imitative pressure positively moderates the relationship between board human capital and green innovation in China.
H4b: Imitative pressure positively moderates the positive relationship between board social capital and green innovation in China.
H4c: Imitative pressure positively moderates the positive relationship between board capital and green innovation in China.
H5a: Media converge positively moderates the positive relationship between board human capital and green innovation in China.
H5b: Media coverage positively moderates the relationship between board social capital and green innovation in China.
H5c: Media coverage positively moderates the relationship between board capital and green innovation in China.
4. Board Capital , Green Innovation and Environmental Performance
6: Human and social capital of the board have a positive impact on Chinese Firmâs environmental Performance.
7: Green innovation has a positive impact on the environmental performance of firms in China.
8: Green Innovation mediates board capital-Environmental Performance relationship in China.
22. LITERATURE REVIEW AND HYPOTHESIS DEVELOPMENT
Green Innovation
Green innovation refers to the generation of new ideas, goods, services, processes, and management systems to minimize
wastage, global warming, water use, air pollution, and the use of coal, oil, and electricity in an effort to promote the conservation of
energy (Kraus et al., 2020; Rennings, 2000).
It is considered a critical strategic tool to gain sustainable competitive advantage (Chang, 2011; Chiou et al., 2011) and to comply
with environmental goals (Frondel et al., 2008; Singh et al., 2020).
It not only minimizes pollution (Carrion-Flores and Innes, 2010; Feng et al., 2018; Li et al., 2021) but also have the potential to
affect the whole process of organizational innovation (Aghion et al., 2016).
It is different from corporate innovation because there is a âpecking orderâ of innovation, whereby poor corporate governance
affects green innovation first, followed by corporate innovation (Daniele and Bennedsen, 2016).
Green innovation is riskier, involves more investment, and its return on investment (ROI) is long-term as compared to general
innovation (Adams et al., 2016).
Firms are facing an ever-increasing stakeholder pressure to be more environmentally responsible (Kock et al., 2012; RodrĂguez-
fernĂĄndez et al., 2020) and green innovation is a way forward (Daniele and Bennedsen, 2016).
While there is a wide consensus on the value of green innovations, it is essential to know what drives green innovation and why
some firms are more environmentally innovative than others.
The antecedents of green innovation are normally categorized into contextual factors such as regulations, social norms, and
stakeholder pressures (Fan, Lian, et al., 2020; Liu et al., 2020; Rennings and Rammer, 2011; Walton et al., 1998; Zhang et al.,
2019), firmâlevel aspects (DechezleprĂȘtre et al., 2020; Huang and Li, 2017; Lin et al., 2019; Pan and Chen, 2019; Ros and
Kunapatarawong, 2019), internal factors (Awan et al., 2021; Bansal and Roth, 2000; He and Jiang, 2019; Usman et al., 2020).
23. LITERATURE REVIEW AND HYPOTHESIS DEVELOPMENT
Board Capital
Hillman and Dalziel (2003), using agency and resource dependence views, coined the term board capital to capture the
aspects of boardâs education, expertise, and outside relationships.
In contrast to numerous studies which focus on a single role of the board (Ararat et al., 2015; Cornelli et al., 2013; Croci,
2018; Farag and Mallin, 2017; Liu et al., 2015), board capital extends to both, monitoring and resource provision/advice
roles of the board (Hillman and Dalziel, 2003; Maere et al., 2014).
Board capital comprised of boardâs human and social capital; where human capital represents the education, and
experience/expertise; while social capital depicts outside network ties with different stakeholders (Chen, 2014; Hillman
and Dalziel, 2003; Ooi et al., 2015; RamĂłn-llorens et al., 2019).
The extant literature explains how different board attributes, e.g. independence, duality, diversity, internationalization, and
board ownership, etc. affect green innovation (Dong et al., 2019; Galia et al., 2015; He and Jiang, 2019; Naciti, 2019;
Usman et al., 2020; Walls and Berrone, 2017; Zhang, Ren, et al., 2020). However, these attributes are mostly structural
in nature and do not deeply capture the boardâs ability to perform (Khanna et al., 2014) . Nevertheless, performance is a
function of ability and willingness, and performance targets cannot be achieved if the individual does not have the ability
to perform (Hunter and Hunter, 1984).
Moreover, despite of the fact that there is a shift in research focus from merely investigating independent vs. non-independent
directors to examining human and social capital of the board of directors (GarcĂa-villaverde et al., 2021; RamĂłn-llorens et al.,
2019); board capital, being one of those attributes associated with board ability, needs an in-depth investigation in terms of
organizational outcomes, especially in different country contexts.
24. LITERATURE REVIEW AND HYPOTHESIS DEVELOPMENT
Board Capital and Green Innovation
As green innovation has long-term implications, its strategy is mostly prepared at the top level (He and Jiang, 2019). Roy
and Khastagir (2016) argued that green innovation culture emanates from the top.
Different authors have mentioned the role of boards in shaping greener culture at the organizational level (Hao and Fan,
2019; He et al., 2021; He and Jiang, 2019; Naciti, 2019; Usman et al., 2020). In particular, boards are increasingly being
called upon to contribute towards strategic advice, long-term planning (Fernandez et al., 2019), and green innovation
(Hao and Fan, 2019; Naciti, 2019).
Board capital enhances both monitoring and resource provision functions of the board (Hillman and Dalziel, 2003).
These functions are performed through boardâs human and social capital (Haynes and Hillman, 2010).
The extant literature explains how different board attributes, e.g. independence, duality, diversity, internationalization, and
board ownership, etc. affect green innovation (Dong et al., 2019; Galia et al., 2015; He and Jiang, 2019; Naciti, 2019;
Usman et al., 2020; Walls and Berrone, 2017; Zhang, Ren, et al., 2020).
However, these attributes are mostly structural in nature and do not deeply capture the boardâs ability to perform
Since green innovation is a strategic decision and extant literature shows that board capital positively impacts strategic
decisions (Chen, 2014; Fernandez et al., 2019; RamĂłn-llorens et al., 2019), the study argues that an enhanced board
capital positively impacts green innovation.
25. LITERATURE REVIEW AND HYPOTHESIS DEVELOPMENT
The context of China in Board Capital-Green Innovation relationship
China is committed to cut a major chunk of its carbon dioxide emissions per unit of GDP by 2030 (Zhang, Zeng, et al., 2020). This dire situation
demands an improved understanding of how to build greener organizations in China.
In terms of corporate governance, the empirical findings do not support the notion that board independence mitigate corporate governance problems
in China (Farag and Mallin, 2017; Bin Khidmat et al., 2020; Liao et al., 2018; Liu et al., 2014).
Institutional investors in China have shorter time horizons and they prefer short-term benefits over long-run sustainable growth (Jiang and Kim, 2015).
Governments in China normally possess considerable control over SOEs, including the right to nominate, appoint and review directors (Li and Xu, 2018;
Wang et al., 2015) and there are political agendas that damage the firm value in Chinese firms (Wei et al., 2005).
Li (2010) pointed out that China lacks an effective legal environment or effective governance mechanism to protect investor and minority shareholders.
The study argue that directors with higher board capital (as an alternative corporate governance mechanism) provide necessary education, skills, and
external links for better monitoring and resource provision and consequently have a positive effect on green innovation. Therefore:
H1a: Board human capital positively impacts green innovation in China.
H1b: Board social capital positively impacts green innovation in China.
H1c: Overall board capital positively impacts green innovation in China.
26. LITERATURE REVIEW AND HYPOTHESIS DEVELOPMENT
Absorptive capacity, board capital and green innovation
Apart from examining the board capital-green innovation relationship, it is also critical to identify the
mechanism through which board capital works to influence green innovation.
Green innovation involves enormous external information and its success depends on the firmâs ability to
utilize this external information (Peeters et al., 2014).
Absorptive capacity, which is the firmâs ability to adapt to rapidly changing external information (Cohen and
Levinthal, 1990), facilitates the integration of external knowledge (Qi et al., 2021).
An enhanced Board capital improves boardâs monitoring and advisory roles, which consequently improves
firmâs ability to adapt to external information, that means it enhances absorptive capacity.
The higher absorptive capacity consequently has a positive impact on green innovation (Kostopoulos et al.,
2011).
Thus the study argue that absorptive capacity mediates the relationship between board capital and green
innovation.
H2a: Absorption capacity mediates the positive relationship between board human capital and green innovation in China.
H2b: Absorption capacity mediates the positive relationship between board social capital and green innovation in China.
H2c: Absorption capacity mediates the positive relationship between board capital and green innovation in China.
27. LITERATURE REVIEW AND HYPOTHESIS DEVELOPMENT
External governance, board capital and green innovation
ï§ In economies, where internal governance mechanisms are still evolving, external governance can help mitigate corporate governance problems (Al-najjar
and Clark, 2017).
ï§ Different researchers have used auditor quality (Chung et al., 2005; Hope et al., 2012), imitative pressure (Qi et al., 2021), and media coverage (Dang et
al., 2020) as external governance mechanisms . In line with Hillman and Dalziel (2003), the current study argues that external governance positively
moderates the relationship between board capital and green innovation.
ï§ Quality auditors push management and boards to remain aligned to shareholdersâ interests(Al-matari et al., 2016). The current study argues that audit
quality moderates the impact of board capital on green innovation.
ï§ Firms will actively attempt to reduce the level of uncertainty in their organizational environment by imitating the structures and activities of similar firms
(DiMaggio and Powell, 1983). The study argues that when imitative pressure increases, boards with augmented board capital provide more requisite
resources and monitoring to mimic the industry leaders in green innovation. Therefore, imitative pressure positively moderates the impact of board capital
on green innovation.
ï§ Media coverage refers to the coverage intensity from the media on the firm (Byun and Oh, 2018). The media can play an important role in mobilizing
social movements such as environmental interest groups (Bansal, 2005). The media not only plays a passive role in shaping institutional norms but also a
more active one by choosing the stories worth reporting and framing them to reflect editorial values. Empirical studies have shown that the media has
been particularly influential on corporate environmental responses (Bansal and Roth, 2000; Dang et al., 2020; Fan, Yang, et al., 2020; Huang et al.,
2021). The total amount of media coverage raises the firmâs visibility, inviting further public attention and scrutiny. The threat of negative media publicity
can apply coercive pressure to firmâs board to commit to sustainable development. In this vein, boards have to act prudently towards environmental-
friendly green innovation technologies. Thus, the study argues that media coverage positively moderates the impact of board capital on green innovation.
28. LITERATURE REVIEW AND HYPOTHESIS DEVELOPMENT CONTINUESâŠ.
External governance, board capital and green innovation
Therefore:
H3a: Audit quality positively moderates the relationship between board human capital and green innovation in China.
H3b: Audit quality positively moderates the relationship between board social capital and green innovation in China.
H3c: Audit quality positively moderates the relationship between board capital and green innovation in China.
H4a: Imitative pressure positively moderates the relationship between board human capital and green innovation in China.
H4b: Imitative pressure positively moderates the positive relationship between board social capital and green innovation in China.
H4c: Imitative pressure positively moderates the positive relationship between board capital and green innovation in China.
H5a: Media coverage positively moderates the positive relationship between board human capital and green innovation in China.
H5b: Media coverage positively moderates the relationship between board social capital and green innovation in China.
H5c: Media coverage positively moderates the relationship between board capital and green innovation in China.
29. LITERATURE REVIEW AND HYPOTHESIS DEVELOPMENT CONTINUESâŠ.
Board capital, green innovation and environmental performance
ï§ Environmental performance has become an important corporate issue (Kassinis and Vafeas, 2006) and there is a
consistent stakeholders pressure to implement environmental initiatives (El-kassar and Singh, 2019; Singh et al., 2020;
Yu et al., 2017). The extant literature has found that financial and environmental performances go side by side (Barnett
and Salomon, 2006; King and Lenox, 2002; Russo and Fouts, 1997; Xie et al., 2016).
ï§ As board is an important top decision-making body, board attributes impact environmental performance (Dragomir, 2013;
De Villiers et al., 2011). Boards high in social and human capital are better able to provide quality advice on various
environmental and other CSR strategies (RamĂłn-llorens et al., 2019; Walls and Hoffman, 2013).
ï§ A higher green innovation performance enhances a firmâs environmental performance (Li et al., 2016; Roy and
Khastagir, 2016; Zailani et al., 2014).
ï§ The current study argues that board capital has a direct and positive impact on environmental performance and it also
indirectly impacts environmental performance through the mediation of green innovation. Therefore:
6: Human and social capital of the board have a positive impact on Chinese Firmâs environmental Performance.
7: Green innovation has a positive impact on the environmental performance of firms in China.
8: Green Innovation mediates board capital-Environmental Performance relationship in China.
31. SAMPLE AND DATA COLLECTION
ï§The study selected a sample of non-financial A-listed Chinese firms during 2010 to 2018, listed on the Shanghai and
Shenzhen stock exchanges.
ï§The listed companies commonly go through rigorous public scrutiny as compared to non-listed companies, need more
corporate governance mechanisms and may have more urge to invest in green innovations (He and Jiang, 2019).
ï§This period is chosen keeping in mind major regulatory and economic reforms took place in China before 2010. i.e. WTO
membership, IFRS adoption, non-tradable shares reforms. Besides, data related to environmental performance was not
available before 2010.
ï§Financial companies are not included as they operate under a strict set of regulations and have different disclosure
requirements (Haniffa and Cooke, 2005).
ï§Special treatment firms which are considered financially distressed in china are also excluded considering their unique
regularity requirements (Ullah et al., 2020).
ï§The financial and corporate governance data is collected from CSMAR database.
ï§Green patent data is collected from the China National Intellectual Property Administration (CHIPA).
ï§Data on environmental regulation (a control variable) is collected from the regional environmental statistical yearbook.
ï§The data on environmental performance is collected from the HEXUN database.
32. MEASUREMENT OF VARIABLES
Green Innovation
The study uses green patents data to measure green innovation. Green patent data have been used as a measure of green innovation in
prior research studies (i.e. Huang et al., 2021; Johnstone et al., 2012; Li, Zhao, et al., 2018; Qi et al., 2021). The study uses natural
logarithm of green patents plus one for calculating the green innovation of firms (Huang et al., 2021)
Board Capital
Following prior work (Chen, 2014; Hillman and Dalziel, 2003; Ooi et al., 2015), the study defines board capital as a combination of human
capital and social capital; whereby human capital is the education and experience of the board members (Chen, 2014; Kroll et al., 2007;
Ooi et al., 2015), while social capital includes concurrent directorships (Tian et al., 2011).
In the human capital measurement, educational part is measured by summing up the number of educations years of board and dividing it
by board size (Chen, 2014). boards experience is calculated by adding the number of directors with prior professional experience in
accounting, economics, engineering, research, and law and dividing it by board size (Lai et al., 2019; Ooi et al., 2015; Ortiz-de-
mandojana et al., 2012; Rossoni and Gonçalves, 2019).
Social capital is calculated by summing the concurrent positions of board members and dividing it by board size (Chen, 2014; Rossoni
and Gonçalves, 2019). Log transformations of both human capital and social capital are used in the regression analysis.
Absorptive Capacity
Prior research used R&D expenditures (Cohen and Levinthal, 1990; Tsai, 2001), number of employees working in the R&D department
(Qi et al., 2021), number of employees with a college education (Grimpe and Sofka, 2009), investment in scientific and technical training
(Mowery and Oxley, 1995, or qualitative measures (Lichtenthaler, 2009) as proxies of absorptive capacity.
The current study uses log transformation of R&D expenditure, as a proxy of absorptive capacity (Grimpe and Sofka, 2009; Tsai, 2001;
Volberda et al., 2010).
33. MEASUREMENT OF VARIABLES
Environmental Performance
We used CSR ratings on environmental performance from the HEXUN Chinese database to measure
environmental performance (Shahab et al., 2019; Yang et al., 2019). The use of environmental ratings as a proxy
for environmental performance has been frequently used in extant research (GarcĂa MartĂn and Herrero, 2020;
De Villiers et al., 2011).
Audit Quality
Big4 audit firms are used as a proxy of audit quality. For robustness, auditors with overseas experience will be
used (Al-matari et al., 2016; Nguyen et al., 2020) .
Imitative pressure
It is the peer pressure from industry. It is calculated by taking the log of number of green patents in the industry
where a particular company is operating in a particular year (Qi et al., 2021).
Media coverage
It is calculated by total number of media reports issued on the company by media during a year (Cai et al., 2020;
Huang et al., 2021).
34. RESEARCH METHODS
Statistical Analysis
Due to its wider acceptability, the study conducts statistical analysis using the ordinary least squares (OLS) technique (Jermias and Gani,
2014; Martin et al., 2015).
The study uses Variance inflation factor (VIF) for each variable to indicate the stability of the regression model. The variables with VIF value
of less than 10 will be included only.
In all regressions, we use industry and year dummies to control for unobservable differences among industries and changes in the business
cycle, respectively (Martin et al., 2015).
We use extensive control variables to capture the variation between firms that could affect optimal governance structure (Black, Jang, &
Kim, 2006).
Robustness Tests
Proxies for Independent variables
According to Hillman and Dalziel (2003), board size can be used as a proxy of board capital. As a robustness test, the study will employ
board size as the independent variable proxy.
Proxies for control variables
The study uses different proxies of firm size, profitability, leverage, and ownership concentration and re-run the regression for robustness.
Alternative measure of green innovation
Based on Huang et al. (2021), the study re-estimated the models using the green innovation dummy as an alternative measure of green innovation. The green
innovation is a dummy variable that equals 1 if a company has at least one green patent and 0 otherwise. Based on He and Jiang (2019), ISO-14001 certification is
employed as a second alternate measure of green innovation.
Lagged independent variable values
Prior studies used lagged independent variables to confirm that board members must be in their roles for some time to have an impact on organizational outcomes
(Bear et al., 2010) and to avoid endogeneity (Cenciarelli et al., 2018). The current study will employ lagged independent variables to add robustness.
35. RESEARCH METHODS
Robustness Tests
Alternative estimation methods
Since the dependent variable green patent applications are count data, defined as a non-negative integer, the study will use Poisson and
negative binomial regression models to examine the robustness of results (Berrone et al., 2013; Valencia, 2018).
Endogeneity problem
The study will use Fixed effect regression and two-step Generalized method of moments (GMM) to account for endogeneity issues.
Further, the propensity score matching (PSM) technique will be employed to account for sample selection bias (Huang et al., 2021).
Sample split option
To confirm that the estimated relationships are stable, we change the sample range by eliminating less environmentally impacting
industries ( i.e. real estate, retail, wholesale, etc.) from our sample and re-run the analysis for our hypothesis.
Result confirmation by linking green innovation to firm value
The study will employ channel analysis to check the validity of our green innovation measure by empirically examining the association
between green innovation and firm value using Tobinâs Q as a proxy.
37. INNOVATION POINTS
âą This study provides several theoretical, empirical, and methodological contributions (innovations) to the corporate governance,
green innovation, and firmâs environmental performance literature which are mainly divided into five parts as follows:
1. Board capital and Green Innovation
a) To the best knowledge of the researcher, this is the first empirical research to analyze the effect of board capital (a corporate governance aspect)
on the strategically critical decision of green innovation. Although some studies have explored the role of board capital (Chen, 2014; Chiu et al.,
2019; Dowell et al., 2011; Haynes and Hillman, 2010; Hillman, 2005; Hillman and Dalziel, 2003), researchers overlooked its effect on green
innovation.
b) Baranchuk and Dybvig (2009) highlighted that board attributes encompass multiple dimensions related to board membersâ motives, preferences,
and access to information and suggested that the combined effect of different facets of a board attribute is more important for board functioning,
as compared to individual aspects. However, most of the studies on board capital have examined the impact of dimensions of board capital
separately. This study not only examined the individual board capital facets of board human and social capital but also overall board capitalâs
impact on green innovation which differentiates it from other studies.
c) Numerous studies have examined the impact of board capital on organizational outcomes in developed economies (Chen, 2014; Maere et al.,
2014; RamĂłn-llorens et al., 2019). However very scant research has been done in developing economies (Ooi et al., 2015). Given that the
Chinese market has a unique financial structure characterized by state ownership in most of the companies, high managerial appropriations,
compromised board independence, shorter horizon of institutional investment (Jiang and Kim, 2015), and an evolving corporate governance
system (Jiang and Kim, 2020). Board capital (as an alternative mechanism) may overcome the shortcomings of this weak governance in China.
Thus, to the best knowledge of the researcher, this empirical research is unique in that it analyzes the impact of board capital as an alternative
corporate governance mechanism in the Chinese context.
d) Green innovation has gathered global attention in recent times (He et al., 2021; Takalo et al., 2021). There have been calls to know what drives
green innovation and why some firms are more environmentally innovative than others (He and Jiang, 2019; Marquis et al., 2015). The current
study contributes towards green innovation literature by explicitly highlighting the antecedents (such as board capital and absorptive capacity) and
consequences (environmental performance) of green innovation.
38. INNOVATION POINTS
2. Absorptive capacity, Board capital and Green Innovation
The current dissertation is the first empirical research that exclusively examines the impact of board capital on green innovation through the
mechanism of absorptive capacity. Extant literature, although underlined the absorptive capacity in terms of green innovation (Ali and Park,
2016; Qi et al., 2021; Zhang et al., 2019), failed to explore the mediating role of absorptive capacity on the relationship between corporate
governance mechanisms and green innovation.
3. External Governance, board capital, and green innovation
To the best of researcherâs knowledge, this is the first empirical research to analyze the moderating role of external governance mechanisms
i.e. audit quality, imitative pressure, and media coverage, on the relationship between board capital and green innovation. Investigating the
moderating effect of external governance in the board capital-green innovation relationship is something that was completely neglected by the
previous studies and has not yet been examined by ancestors.
a) The literature has provided enough evidence that audit quality shapes strategic directions (Abid et al., 2018; Samudhram et al., 2014) and
moderates corporate governance attributes (Al-matari et al., 2016), yet it is unable to answer whether it moderates the impact of board
capital on green innovation. The current study is unique in that, it analyzes how audit quality moderates the impact of board capital on
green innovation.
b) Imitative pressure primarily emanates from firmsâ peers and increased acceptance of green innovation by peers compel firms and boards to
follow the same green innovation practices (Carter and Rogers, 2008). The current dissertation is the first study to explore the moderating
effect of imitative pressure (as an external governance mechanism) on the impact of board capital on green innovation.
c) Media, being an important feature of the external governance, has played an increasingly important role in the capital market and is
regarded as an important oversight mechanism that effectively replaces the deficiencies of institutional protection (Dyck et al., 2008). Board
members consider the media reports when formulating different environmental policies (Rupley et al., 2012). Campbell (2007) argued that
media plays a central role in monitoring and reporting enterprise behavior, which constantly threatens corporations with public exposure.
The current dissertation is the first study to explore the moderating effect of media coverage on the impact of board capital on green
innovation.
39. INNOVATION POINTS
4. Environmental performance, board capital, and green innovation
ï§ To the best knowledge of the researcher, this is the first empirical research to examine the association between board capital, green
innovation, and the firmâs environmental performance by investigating the mediating role of green innovation in the board capital-
environmental performance relationship.
ï§ Green innovation has a major impact on reducing the environmental burden in terms of pollution reduction, less greenhouse gas
emissions, energy-saving, and waste recycling (Chang, 2011; Lin and Ho, 2008; OECD, 2013), thereby numerous researchers have
found a positive effect of green innovation on firmâs environmental performance (Kraus et al., 2020; Rehman et al., 2021; Yu et al.,
2017; Zailani et al., 2014).
ï§ Similarly, Board attributes have a positive link with environmental performance (Hussain and Rigoni, 2018; Naciti, 2019; Walls et al.,
2012). However, the mediating effect of green innovation towards board capital-environmental performance has been overlooked in
the literature.
5. Methodological contributions
a) Prior studies (Huang et al., 2021; Qi et al., 2021; RamĂłn-llorens et al., 2019) are based on relatively shorter periods (short panel
dataset), which is a limitation in providing a clear view of the trends of board capital and green innovation over time, while this
empirical study uses the dataset of nine years.
b) Lastly, the study employs several robustness tests to validate findings i.e. it uses two proxies of the dependent variable and
different proxies of control and independent variables. The study changed the sample range by eliminating the less
environmentally impacting industries to confirm that results are stable. It employed different statistical methods for robustness and
endogeneity issues prevalent in corporate governance studies. It uses a relatively larger set of control variables.