This study contributes to the debate about the moderating factors that affect the relationship between environmental and financial performance. Combining stakeholder theory, stakeholder salience, and legitimacy theory, and based on a large international sample, we demonstrate that stakeholder prioritization and engagement jointly positively moderate the relationship between environmental and financial performance. However, this moderating effect is only found when both formal and informal societal characteristics are strong and support the business environment surrounding the firm and its stakeholders. Contributions and implications for managers and regulators are discussed.
Dal Maso L., Mazzi F., Soscia M., Terzani S. (2018). The moderating role of stakeholder management and societal characteristics in the relationship between corporate environmental and financial performance. JOURNAL OF ENVIRONMENTAL MANAGEMENT, 218, 322-332 [10.1016/j.jenvman.2018.04.005].
The moderating role of stakeholder management and societal characteristics in the relationship between corporate environmental and financial performance
Dal Maso L.;
2018
Abstract
This study contributes to the debate about the moderating factors that affect the relationship between environmental and financial performance. Combining stakeholder theory, stakeholder salience, and legitimacy theory, and based on a large international sample, we demonstrate that stakeholder prioritization and engagement jointly positively moderate the relationship between environmental and financial performance. However, this moderating effect is only found when both formal and informal societal characteristics are strong and support the business environment surrounding the firm and its stakeholders. Contributions and implications for managers and regulators are discussed.I documenti in IRIS sono protetti da copyright e tutti i diritti sono riservati, salvo diversa indicazione.
