Corporate Environmental Strategies in Transition Economies
نویسنده
چکیده
A meaningful economic literature examines businesses’ environmental management efforts expended during the economic-political transition in Central and Eastern Europe and the former Soviet Union. Over a similar time frame as this transition, many firms in developed countries were integrating environmental components into their business strategies and finding this integration profitable. A growing body of research explores this topic of “corporate environmental strategy”. Given the rising importance of this topic in developed economies, its seems highly important to reassess the literature on businesses’ environmental protection efforts during the transition in order to explore corporate environmental strategy in transition economies where the business benefits may be less clear, e.g., domestic consumer pressure for better corporate environmental stewardship is limited. Given this lack of clarity, exploration of corporate environmental strategies in transition economies is important. Guided by a simple conceptual framework, this study reviews and assesses the full body of the empirical literature in order to explore the drivers behind corporate environmental strategies in transition economies. The study considers a broad array of drivers: internal factors, market pressures, government, civil society, and third-party lawsuits. The empirical evidence suggests a positive role for foreign ownership and foreign customer pressure and a stronger role for government factors: capacity to monitor, greater enforcement, permit issuance, and higher emission charge rates. Lastly, this study’s review reveals that many key factors remain weakly explored, if not fully ignored, by empirical studies, such as investor pressure, domestic customer pressure, and corporate culture. JEL Codes: L21, P28, Q01, Q50
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