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Environmental performance, sustainability, governance and financial performance: Evidence from heavily polluting industries in China

Thi H.H. Nguyen, Mohamed Elmagrhi Orcid Logo, Collins G. Ntim, Yue Wu

Business Strategy and the Environment, Volume: 30, Issue: 5, Pages: 2313 - 2331

Swansea University Author: Mohamed Elmagrhi Orcid Logo

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DOI (Published version): 10.1002/bse.2748

Abstract

This study seeks to contribute to the existing business strategy and the environment literature by examining the effect of governance structures on Chinese firms’ environmental performance, and consequently ascertain the extent to which the financial performance–environmental performance nexus is mo...

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Published in: Business Strategy and the Environment
ISSN: 0964-4733 1099-0836
Published: Wiley 2021
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URI: https://cronfa.swan.ac.uk/Record/cronfa56168
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last_indexed 2021-11-24T04:12:20Z
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spelling 2021-11-23T14:15:15.2972252 v2 56168 2021-02-02 Environmental performance, sustainability, governance and financial performance: Evidence from heavily polluting industries in China 4def956b7e2d996ad0bfbfcb710b7ef6 0000-0003-3803-8496 Mohamed Elmagrhi Mohamed Elmagrhi true false 2021-02-02 BAF This study seeks to contribute to the existing business strategy and the environment literature by examining the effect of governance structures on Chinese firms’ environmental performance, and consequently ascertain the extent to which the financial performance–environmental performance nexus is moderated by governance mechanisms. Using a sample of Chinese companies from heavily-polluting industries over a five-year period, our baseline findings suggest that, on average, board size and governing board meetings are positively associated with Chinese firms’ environmental performance, whilst board independence and gender diversity have positive, but insignificant association with firms’ environmental performance. Our evidence suggests further that the examined internal governance mechanisms have a mixed moderating effect on the link between financial performance and environmental performance. Our findings have important implications for company executives, environmental activists, policy-makers, and regulators. Our results support insights drawn from agency, resource dependence, stakeholder, and legitimacy theories. Journal Article Business Strategy and the Environment 30 5 2313 2331 Wiley 0964-4733 1099-0836 Environmental performance, environmental pollution, environmental management and sustainability, governance, financial performance 14 7 2021 2021-07-14 10.1002/bse.2748 http://dx.doi.org/10.1002/bse.2748 COLLEGE NANME Accounting and Finance COLLEGE CODE BAF Swansea University SU Library paid the OA fee (TA Institutional Deal) 2021-11-23T14:15:15.2972252 2021-02-02T13:02:50.8441357 School of Management Accounting and Finance Thi H.H. Nguyen 1 Mohamed Elmagrhi 0000-0003-3803-8496 2 Collins G. Ntim 3 Yue Wu 4 56168__19432__365236bd33d54050b17387f8ce7e69dc.pdf 56168.pdf 2021-03-04T18:36:38.4432796 Output 1620856 application/pdf Version of Record true © 2021 The Authors. This is an open access article under the terms of the Creative Commons Attribution License true eng http://creativecommons.org/licenses/by/4.0/
title Environmental performance, sustainability, governance and financial performance: Evidence from heavily polluting industries in China
spellingShingle Environmental performance, sustainability, governance and financial performance: Evidence from heavily polluting industries in China
Mohamed Elmagrhi
title_short Environmental performance, sustainability, governance and financial performance: Evidence from heavily polluting industries in China
title_full Environmental performance, sustainability, governance and financial performance: Evidence from heavily polluting industries in China
title_fullStr Environmental performance, sustainability, governance and financial performance: Evidence from heavily polluting industries in China
title_full_unstemmed Environmental performance, sustainability, governance and financial performance: Evidence from heavily polluting industries in China
title_sort Environmental performance, sustainability, governance and financial performance: Evidence from heavily polluting industries in China
author_id_str_mv 4def956b7e2d996ad0bfbfcb710b7ef6
author_id_fullname_str_mv 4def956b7e2d996ad0bfbfcb710b7ef6_***_Mohamed Elmagrhi
author Mohamed Elmagrhi
author2 Thi H.H. Nguyen
Mohamed Elmagrhi
Collins G. Ntim
Yue Wu
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container_title Business Strategy and the Environment
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container_start_page 2313
publishDate 2021
institution Swansea University
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doi_str_mv 10.1002/bse.2748
publisher Wiley
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hierarchy_parent_title School of Management
department_str Accounting and Finance{{{_:::_}}}School of Management{{{_:::_}}}Accounting and Finance
url http://dx.doi.org/10.1002/bse.2748
document_store_str 1
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description This study seeks to contribute to the existing business strategy and the environment literature by examining the effect of governance structures on Chinese firms’ environmental performance, and consequently ascertain the extent to which the financial performance–environmental performance nexus is moderated by governance mechanisms. Using a sample of Chinese companies from heavily-polluting industries over a five-year period, our baseline findings suggest that, on average, board size and governing board meetings are positively associated with Chinese firms’ environmental performance, whilst board independence and gender diversity have positive, but insignificant association with firms’ environmental performance. Our evidence suggests further that the examined internal governance mechanisms have a mixed moderating effect on the link between financial performance and environmental performance. Our findings have important implications for company executives, environmental activists, policy-makers, and regulators. Our results support insights drawn from agency, resource dependence, stakeholder, and legitimacy theories.
published_date 2021-07-14T04:11:36Z
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