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Why Are Firms Environmentally Responsible? A Review and Assessment of the Main Mechanisms

Author

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  • Brekke, Kjell Arne
  • Pekovic, Sanja

Abstract

This review explores the mechanisms through which environmental responsibility influences firm performance. We identify several mechanisms related to stakeholders — customers, employees, investors, government, non-governmental organization, and executives. We try to identify trends both in the importance of different mechanisms in our knowledge about them. We find that recent literature put increasing emphasis on the role of employees as driver of corporate environmental responsibility. The literature also argues that socially responsible investments are becoming more and more mainstream. Finally, we argue that interaction between stakeholders is an important driver of environmental responsibility, with the interaction of NGOs and consumers as an important example.

Suggested Citation

  • Brekke, Kjell Arne & Pekovic, Sanja, 2018. "Why Are Firms Environmentally Responsible? A Review and Assessment of the Main Mechanisms," International Review of Environmental and Resource Economics, now publishers, vol. 12(4), pages 355-398, December.
    • Handle: RePEc:now:jirere:101.00000105
    DOI: 10.1561/101.00000105
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    Citations

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    Cited by:

    1. Kolcava, Dennis, 2020. "Do citizens hold business accountable for greenwashing by demanding more government intervention?," OSF Preprints sj4dk, Center for Open Science.
    2. Renström, Thomas I. & Spataro, Luca & Marsiliani, Laura, 2021. "Can subsidies rather than pollution taxes break the trade-off between economic output and environmental protection?," Energy Economics, Elsevier, vol. 95(C).
    3. Di Foggia, Giacomo, 2021. "Drivers and challenges of electric vehicles integration in corporate fleet: An empirical survey," SocArXiv b3e56, Center for Open Science.
    4. Chih-Hai Yang, 2022. "Corporate philanthropy and employee wellbeing: do types of corporate philanthropy matter?," Eurasian Business Review, Springer;Eurasia Business and Economics Society, vol. 12(4), pages 803-828, December.

    More about this item

    Keywords

    Corporate environmental responsibility; new stakeholder theory; environmental economics; corporate governance;
    All these keywords.

    JEL classification:

    • M14 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - Corporate Culture; Diversity; Social Responsibility
    • Q56 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environment and Development; Environment and Trade; Sustainability; Environmental Accounts and Accounting; Environmental Equity; Population Growth

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