towards cooperative policy approaches in china drivers for voluntary agreements on industrial energy efficiency in nanjing energy efficiency is a national priority for china as rapid energy consumption growth aggravates its greenhouse gas emissions local air pollution and energy scarcity in the 1990s a large number of voluntary agreements emerged in industrialised countries in order to improve industrial energy efficiency these experiences are now taken into account in china this article analyses the drivers for voluntary agreements on industrial energy efficiency in china based on a case study of three enterprises in nanjing jiangsu province furthermore the article reviews the institutional set up of energy policy and investigates the pertaining policy culture from the findings conclusions are drawn on the role of voluntary agreements within china s larger policy context we conclude that opposed to avoiding stricter regulation voluntary agreements in nanjing are reinterpreted in view of more stringent national provisions on energy efficiency in the 11th five year plan hence agreements have evolved into an implementation tool of national policy at the local level for industry another major driver for participation was identified as improving its relations with local authorities voluntary agreements showed to have the potential to overcome traditional constraints of implementing top down policies at the local level in china

the limits of explanation testing the internalization theory of the multinationial enterprise the paper explores the difficulties of testing the internalization approach in the modern theory of the multinational enterprise the structure of the theory is elaborated and the conclusion drawn that testing cannot occur at the most general theoretical level but that the theory requires careful restricting assumptions to be placed on it to allow rigorous testing several empirical circumstances would constitute refutation if they could be shown to hold however the use of unconventional cases or outliers does not constitute disproof more rigour is required in formulating and testing the theory but the current verdict on the theory must be not disproven

barriers to energy efficiency a comparison across the german commercial and services sector abstract based on a large sample for the german commercial and services sector this paper econometrically assesses the relevance of various types of barriers to energy efficiency at the sectoral level and across fifteen sub sectors the results at the level of entire sectors suggest that the lack of information about energy consumption patterns and about energy efficiency measures lack of staff time priority setting within organizations and in particular the investor user dilemma are all relevant barriers allowing for sector specific differences in the relevance of these individual barriers yields a more heterogeneous picture the numbers and types of relevant barriers vary across sub sectors and the majority of sub sectors are subject to relatively few barriers the statistically most significant barriers are found for the sub sector of public administrations these findings are robust independent of whether the definition of an organization s energy efficiency performance includes only measures that have actually been realized or also those that are being planned for planned projects however organizations appear to underestimate internal priority setting as a barrier to energy efficiency

public information as a deterrent to environmental infractions past studies of the impact of publicly announced violations of environmental laws on the market value of the offending firms have yielded equivocal results a particularly troubling aspect of this research is whether the market imposes a reputation penalty for such violations this article uses the event study methodology to estimate the effect of announced environmental infractions on the market returns of the violators stockholders experienced significant negative abnormal returns in the event window cross sectional analysis showed these cumulative losses to be a function of firm size type of legal action and specific toxin the reputation component of abnormal returns was influenced by these factors as well

corporate socially responsible initiatives and their effects on consumption of green products corporate social responsibility csr research has focused often on the business returns of corporate social initiatives but less on their possible social returns we study an actual company consumer partnership csr initiative promoting ecologically correct and conscious consumption of bottled mineral water we conduct a survey on adult consumers to test the hypotheses that consumer skepticism toward the company consumer partnership csr initiative and the moral emotion of elevation mediate the relationship between company csr motives perceived by consumers and consumer behavioral responses following this csr initiative favorable consumer behavioral responses in turn relate positively to consumer support of other green products the results provide scholars and managers with means of improving their understanding and handling of company consumer partnership csr initiatives

the effect of clean water regulation on profitability testing the porter hypothesis previous theoretical research provides opposing arguments regarding the effect of environmental regulation on profitability this study provides empirical evidence on this debated effect by testing the strong version of the porter hypothesis we employ panel data analysis to examine the effect of water regulation as measured by permitted wastewater discharge limits on the profitability of publicly held firms operating within the chemical manufacturing industries we find that tighter water regulation meaningfully lowers profitability by reinterpreting profitability in terms of sales and costs the results demonstrate that tighter water regulation increases costs conditioned on a given level of sales

the potential impact of social accountability certification on marketing a short note social responsibility sa 8000 registration certification is a response by the business community to address consumer and investor perceptions of the importance of emerging global social issues such as child labor worker rights discrimination compensation etc as more u s and european firms outsource production to less developed nations social environmental and reputational issues have become more important sa8000 is a series of behavioral standards that represents a comprehensive and potentially global corporate social responsibility registration system that provides a standard of socially responsible treatment of workers this paper explores how sa8000 adoption may impact a firm s marketing activities

the toxic intensity of industrial production global patterns trends and trade policy this paper exploits a newly developed data set to investigate recent changes in the international distribution of industrial pollution in particular the authors examine three issues 1 the relationship between the toxic intensity of industrial production and the level of economic development 2 the impact of oecd environmental regulation on global changes in toxic intensity and 3 the relationship between trade policy and the toxic intensity of industrial production in ldc s 10 refs

pollution prevention strategy a study of indian firms abstract strategy that targets pollution prevention shall be the first one among sustainability strategies to be implemented to achieve early cost advantages and mitigate litigation risk this article aims to isolate pollution prevention strategy pps from other similar sustainability strategies and provides an independent scope of pps a questionnaire based survey was conducted among 689 managers of 60 indian firms known for their orientation towards sustainability factorial analysis delivered five factors highlighting the composition of associated variables descriptive statistics was used to understand the relative importance of various aspects of pps and status of implementation of this strategy in indian firms the results show that firms are paying higher attention to structured waste management and the priority is early cost advantages hence prefer less investment prone processes modifications the initiatives are geared mainly due to short term advantages than top management commitment and pro activeness to comply with environmental regulations firms believe in developing expertise and deploying standard practices it is evident that firms specifically train employees for pps implantation but lags in empowerment of employees resources allocation cross functional team formations and rewards for the employees also pps strategy is implemented as stand alone strategy and lacks the integration with core corporate strategy the study adds to existing literature by segregating pps from other similar strategies like product stewardship and cleaner technology tested measure of pps shall help managers to assess their performance to achieve pollution prevention goals further the paper discusses some important managerial implications

asset stock accumulation and sustainability of competitive advantage given incomplete factor markets appropriate time paths of flow variables must be chosen to build required stocks of assets that is critical resources are accumulated rather than acquired in strategic factor markets barney barney j 1986 strategic factor markets expectations luck and business strategy management sci october 1231 1241 sustainability of a firm s asset position hinges on how easily assets can be substituted or imitated imitability is linked to the characteristics of the asset accumulation process time compression diseconomies asset mass efficiencies inter connectedness asset erosion and causal ambiguity

the impact of environmental policy stringency on industrial r d conditional on pollution intensity and relocation costs stringent environmental regulations may encourage industrial innovation as technological advancements lower the cost of pollution abatement popp et al in handbook of the economics of innovation vol ii academic press burlington pp 873 938 2010 the pollution havens hypothesis on the other hand indicates that rather than innovating dirty industries may relocate to countries with less stringent environmental regulations copeland and taylor in j econ lit 42 1 7 71 2004 thus more stringent environmental regulations may increase or decrease innovative activities this paper examines empirically the impact of environmental regulations on r d intensities and r d expenditures in 21 manufacturing industries in 28 oecd countries from 2000 to 2007 i consider pollution intensity and the relative ease of relocation immobility as industry characteristics that determine the optimal industry response to increased environmental policy stringency i find that more pollution intensive industries innovate less as regulatory environments become more restrictive relative to less pollution intensive industries at the same time more immobile industries innovate more than more mobile industries as environmental regulations become more stringent illustrating innovation as an alternative to relocation

choice of foreign market entry mode impact of ownership location and internalization factors firms interested in servicing foreign markets face a difficult decision with regards to the choice of an entry mode the options available to a firm include exporting licensing joint venture and sole venture several factors that determine the choice of a specific foreign market entry mode have been identified in previous literature these factors can be classified into three categories ownership advantages of a firm location advantages of a market and internalization advantages of integrating transactions this study examines the independent and joint influences of these factors on the choice of an entry mode multinomial logistic regression model is employed to test the hypothesized effects

beyond the question does it pay to be green how much green and when abstract this research investigates the relationship between green management and performance in italian firms the analysis compares innovation and productivity of firms with similar features but different environmental activities firms are matched on a rich set of covariates extending the coarsened exact matching to survey data matched data are analysed with parametric and non parametric tests and endogenous treatment regression the analysis shows that the relationship between green management and performance is u shaped green firms are performing no better than firms with no environmental activity especially in energy intensive sectors among green firms more advanced environmental management is associated with higher performance overall the results suggest that green management has strong sectoral patterns and no linear relationship with performance findings suggest that green managers should pursue a comprehensive environmental management system sectoral specific policies to promote environmentally friendly activities are needed when green activities are not paying off

intangible assets internationalization and foreign direct investment in manufacturing this study provides strong empirical evidence in support of the intangible assets model of foreign direct investment the percentage of lawyers in total employment is introduced as a proxy for the internalization advantage that is associated with the presence of intangible assets legal intensity is shown to be directly related to the level of u s foreign direct investment abroad for sixty one manufacturing industries from 1982 1989

an empirical investigation of the pollution haven effect with strategic environment and trade policy abstract using a new dataset on the stringency and enforcement of environmental policy this study is the first to find robust confirmation of a pollution haven effect in a cross country context by accounting for strategically determined environment trade and intellectual property right ipr policies a simple game theoretic approach to policy determination is described which suggests an identification strategy based on other country characteristics it is found that for the top 20th percentile of countries in terms of growth in u s multinational affiliate value added as much as 8 6 of that growth between 1999 and 2003 can be attributed to declining relative stringency and enforcement of environmental policy the results are robust to a number of identification tests weak iv tests and third country spatial effects further evidence is found that relatively footloose industries are more likely to be affected by environmental policy than more traditionally dirty industries and enforcement of environmental policies tends to be a more important deterrent than the stringency of the policy set

toward a new conception of the environment competitiveness relationship accepting a fixed trade off between environmental regulation and competitiveness unnecessarily raises costs and slows down environmental progress studies finding high environmental compliance costs have traditionally focused on static cost impacts ignoring any offsetting productivity benefits from innovation they typically overestimated compliance costs neglected innovation offsets and disregarded the affected industry s initial competitiveness rather than simply adding to cost properly crafted environmental standards can trigger innovation offsets allowing companies to improve their resource productivity shifting the debate from pollution control to pollution prevention was a step forward it is now necessary to make the next step and focus on resource productivity

a resource based perspective on corporate environmental performance and profitability drawing on the resource based view of the firm we posited that environmental performance and economic performance are positively linked and that industry growth moderates the relationship with the returns to environmental performance higher in high growth industries we tested these hypotheses with an analysis of 243 finns over two years using independently developed environmental ratings results indicate that it pays to be green and that this relationship strengthens with industry growth we conclude by highlighting the study s academic and managerial implications making special reference to the social issues in management literature

the eclectic paradigm of international production a restatement and some possible extensions this article reviews some of the criticisms directed towards the eclectic paradigm of international production over the past decade and restates its main tenets the second part of the article considers a number of possible extensions of the paradigm and concludes by asserting that it remains a robust general framework for explaining and analysing not only the economic rationale of economic production but many organisational and impact issues in relation to mne activity as well

the importance of nongovernmental organizations ngos in global governance and value creation an international business research agenda the emergence of organized civil society and of nongovernmental organizations ngos as organizational manifestations of broader social movements has dramatically altered the global political economic landscape the increasing global reach of ngos challenges established international business ib research and highlights opportunities for broadening and adapting extant paradigms in the field in this article we introduce the concept of ngos and contrast them with their private sector firm and public sector government counterparts within the context of ib we discuss factors giving rise to ngos as important organizational entities that participate in global value creation and governance and identify limits to their efficacy and viability we identify important questions raised by incorporating ngos into our conceptualization of global context and we challenge three basic tenets of ib theory the definition and dynamics of an institutional field the relevance centrality of a firm government i e two sector bargaining model and the pre eminence of the firm as the global organization of interest within the field we conclude by offering suggested research directions that should serve as catalysts for this new and potentially rich area of future ib research

strategic corporate social responsibility and economic performance this article proposes a novel corporate social responsibility csr index based on a data envelopment analysis dea model acknowledging the argument that companies might favour those csr dimensions that provide strategic competitive advantages we argue that the index can capture companies strategic approach to csr furthermore our findings reveal a neutral relationship between this strategic csr index and economic performance as measured by return on assets roa and tobin s q when controlling for firm unobserved heterogeneity and past economic performance by contrast an equally weighted index of the same csr indicators is found to be negatively related with roa which reinforces our claim that this specific dea based index is a measure of strategic csr

footloose and pollution free in numerous studies economists have found little empirical evidence that environmental regulations affect trade flows in this paper we propose and test several common explanations for why the effect of environmental regulations on trade may be difficult to detect we demonstrate that whereas most trade occurs among industrialized economies environmental regulations have stronger effects on trade between industrialized and developing economies we find that for most industries pollution abatement costs are a small component of total costs and are unrelated to trade flows in addition we show that those industries with the largest pollution abatement costs also happen to be the least geographically mobile or footloose after accounting for these distinctions we measure a significant effect of pollution abatement costs on imports from developing countries and in pollution intensive footloose industries

clarifying the epistemology of corporate sustainability abstract business research is placing increasing focus on the relationship between the natural environment and the political concept of sustainable development within this nexus one area labelled corporate sustainability emphasizes the interactions between economic environmental and social values the need to consider multiple values has contributed to a blur in the conceptual landscape this is partly due to the fact that authors often address epistemological challenges on an implicit level moreover hidden ideologies e g the profit maximization paradigm can explain the conceptual obscurity the contribution of this article is twofold firstly a conceptual framework is developed based on the dichotomy of positivism and constructivism a relation is established between these epistemological positions and the analytic treatment of environmental and social values the framework can be applied to increase transparency on epistemological challenges and thereby strengthening construct validity in the field secondly an analysis of the most influential literature from the last 50 years shows that there is a trend of clustering theoretical positions and value constructs without any critical awareness of their philosophical assumptions the authors hope that acknowledgement of a multi paradigmatic approach can help to clarify the epistemology of the research area by establishing pluralism as an explicit position

environmental policy stringency and technological innovation evidence from survey data and patent counts this article uses patent data to examine the impact of public environmental policy on innovations in environment related technology the analysis is conducted using data on an unbalanced panel of 77 countries between 2001 and 2007 drawing upon data obtained from the european patent office epo world patent statistical patstat database and the world economic forum s wef executive opinion survey the results support our hypotheses concerning the positive role of both general innovative capacity and environmental policy stringency on environment related innovation a subsequent two stage model assesses the factors which drive innovation in general and uses the fitted values to estimate environmental innovation while the analysis is conducted on a smaller sample they confirm the findings of the reduced form model

re evaluating the role of energy efficiency standards a behavioral economics approach abstract the economic models that prescribe pigovian taxation as the first best means of reducing energy related externalities are typically based on the neoclassical model of rational consumer choice yet consumer behavior in markets for energy using durables is generally thought to be far from efficient giving rise to the concept of the energy efficiency gap this paper presents a welfare analysis of energy policies that is based on a behavioral model of temptation and self control introduced by gul and pesendorfer 23 24 we find that in the presence of temptation i pigovian taxes alone do not yield a first best outcome ii when viewed as substitutes energy efficiency standards can dominate pigovian taxes and iii a policy combining standards with a pigovian tax can yield higher social welfare than a pigovian tax alone implying that the two instruments should be viewed as complements rather than substitutes

business strategy under institutional constraints evidence from china s energy efficiency regulations abstract this paper links theoretical perspectives from energy efficiency economics with those observed from corporate environmental strategy to develop a framework for explaining energy efficiency strategies by firms in response to national policies and local regulations in china the framework is refined through analytic generalization of 20 cases from four industries and four cities in jiangsu province and reveals two strategies 1 firms with moderate institutional pressure seek incremental competitiveness by adopting energy saving technologies which is reinforced by their informational organizational and financing capabilities and facilitated by voluntary policies and industrial competition 2 firms with survival risk or development constraints under regulation seek a position favored by local governments by replacing old plant and equipment with larger more efficient ones and contributing to the local community the chinese case studies reveal a strong institutional impact on firms choice of business strategies and particularly the positioning strategy the identified business strategies shed additional light on the effectiveness and implications of different policy instruments for energy efficiency

environmental innovations and profitability how does it pay to be green an empirical analysis on the german innovation survey much of the empirical literature analysing the relation between environmental innovation and competitiveness has focused on the question whether it pays to be green we differentiate between different types of environmental innovations which will be disentangled in those aiming at reducing the negative externalities and those allowing for efficiency increases and cost savings what we analyze is at first the extent to which these two typologies have impacts on firms profitability with opposite signs and secondly whether the motivations driving the adoption of those innovations make the difference in terms of economic gains we find empirical evidence that both the typology of environmental innovation and the driver of their adoption affect the sign of the relationship between competitiveness and environmental performance the empirical strategy is based on a sample of german firms and makes use of a merge of two waves of the mannheim innovation panel in 2011 and 2009 that allow overcoming some endogeneity issues which may arise in a cross section setting

investment in energy efficiency do the characteristics of firms matter the literature on energy efficiency provides numerous examples of apparently profitable technologies that are not universally adopted yet according to the standard neoclassical theory of investment profit maximizing firms should undertake all investments with a positive net present value the standard theory also holds that the discount rate for computing the present value of a project should be the return available on other projects in the same risk class and therefore should not depend on characteristics of the firm this model as applied to energy saving investments is tested by examining whether firms characteristics influence their decision to join the environmental protection agency s voluntary green lights program a discrete choice regression is estimated over a large sample of participating and nonparticipating firms missing values in the data matrix are replaced with multiple imputations from a distribution estimated using the expectation maximization algorithm the results show that 1 sub

corporate perceptions of the business case for supplier diversity how socially responsible purchasing can pay in exploring corporate perceptions of the business case for supplier diversity sd this paper reports on a cross national study of large purchasing organisations lpos that had introduced or were in the process of introducing purchasing initiatives aimed at ethnic minority businesses embs the research investigates how lpos portray the benefits of this form of socially responsible purchasing and suggests a business case construct based on four component elements it also highlights a number of contextual factors that appear to have shaped business case rationales the paper concludes with a discussion of issues of cost and contingent influences affecting sd programmes and points to possible areas for future research

effect of announcements of withdrawal from south africa on stockholder wealth in this study we analyzed investor reaction to corporate announcements of withdrawal from south africa to determine whether such announcements increased or reduced firms market value we also exa

the roles of stakeholder support and procedure oriented management on asset recovery abstract as the management of returned products is fast becoming a business trend caused by pressure for compliance asset recovery is increasingly viewed as a fertile area for firms to reduce cost and improve quality environmental management is a viable approach for chinese manufacturers to respond to the escalating international quest for conserving the environment to tackle the problem of rising raw material costs and to improve product quality by analyzing returned products to reach the goals of cost reduction and product quality improvement manufacturers need to understand how asset recovery can be leveraged through procedure based practices and stakeholder support to enhance performance product type characterized by different levels of demand uncertainty and time to market may affect the outcomes of asset recovery adoption and should also be taken into account drawing on the environmental management and business logistics literature we provide empirical insights on asset recovery adoption using survey data collected from export oriented chinese manufacturers we find that asset recovery and stakeholder support are complementary in strengthening manufacturers financial performance regardless of product type in addition the performance impact of asset recovery can be substantial when manufacturers environmental management practices are less procedural allowing flexibility in the logistics management of product flows

why do firms engage in environmental management an empirical study in china abstract there are increasing pressures being put on firms from a number of different sources such as governmental regulation community participation and market demand to engage firms in environmental initiatives these factors play different roles at various development periods government regulation was the major pressure initially however community participation and market demand have become more and more important thus a better understanding of the determinant factors that play a role in engaging firms to take environmental management initiatives may help policy makers develop more effective environmental policies using data collected from 89 firms in wujin county of jiangsu province china this paper developed an index system to evaluate the corporate environmental management performance furthermore we used econometric methodology to identify the main factors that probably shape corporate environmental management performance including both external pressures and firm characteristics the results showed that pressures from supply chain customers and communities played positive roles in engaging firms to improve environmental management performance however the pressure from the regulatory system did not implicate positive effect on environmental management performance when basic compliance is not an issue in the region anymore the results also showed that firms with larger scale will be more active in engaging in environmental management initiatives finally our results suggest that a regulation s stimulation may be reduced as long as firms have complied with requirements of local environmental standards and other environmental laws b policy makers should pay more attention to market and information instruments c more financial and technical support should be provided to encourage small and medium sized enterprises smes to improve environmental performance

applying gri reports for the investigation of environmental management practices and company performance in sweden china and india the relationship between environmental management practices emps and company performance has recently been debated in literature and is of interest for both industrial managers and political decision makers this paper investigates the relationship between emps and firm performance in manufacturing companies in sweden china and india with the content analysis of global reporting initiative gri reports and financial reports of sample companies the levels of emps and the companies financial performances were coded further statistical assessment was conducted in order to identify patterns and correlations the results indicate that only selected emps have been employed differently in three different countries most emps clearly do not have a positive correlation with the financial performance i e employing emps does not necessarily improve the economic consequence of companies nevertheless a number of emps do have a strong correlation with improving innovation performance in various companies it is also interesting to note that a negative correlation exists between the environmental standard for suppliers and sales growth this is possibly due to increasing operational costs and a delay in market acceptance this research illustrates the possibility of using standard environmental data from gri reports as a resource for future studies of emps in order to improve long term financial performance this study also suggests that innovation should gain a substantial amount of attention when emps are employed

assessing the relationship between economic and ecological performance distinguishing system levels and the role of innovation in this article we critically discuss the different perspectives that are currently in use for assessing the relationship between ecological and economic performance based on a review of the literature we propose that research up till now has made use of four distinct system boundaries the firm markets production and consumption systems and economic systems making these boundaries explicit is helpful in interpreting the mixed results that have been obtained we describe the consequences of the choice for each of these system boundaries and look at implications for innovation we also argue that the production and consumption system boundary offers potential for further advances in the field and deserves more attention in future research

globalization and the environment determinants of firm self regulation in china critics assert that globalization is detrimental to the environment because it encourages location of polluting industries in countries with low environmental regulations we suggest that globalization might also have positive environmental effects because global ties increase self regulation pressures on firms in low regulation countries using survey data from firms in china we find that multinational ownership multinational customers and exports to developed countries increase self regulation of environmental performance

industrial ownership and environmental performance evidence from china the authors explore the differences in pollution control performance of industries with different types of ownership in china state owned soe collectively or community owned coe privately owned poe companies with foreign direct investment fdi and joint ventures about 1 000 industrial firms in three provinces of china were surveyed and detailed 1999 firm level information was obtained the authors analyzed the differences between firms in receiving and reacting to environmental regulatory enforcement community pressure environmental services as well as in the firm s internal environmental management among the different types of ownership the authors also conducted econometric analyses on the determinants of pollution discharge performance the results show that foreign direct investment and collectively owned enterprises have better environmental performances in terms of water pollution discharge intensity while state owned enterprises and privately owned enterprises in china are the worst performers the results also suggest that collectively owned enterprises in china do internalize environmental externalities

induced innovation and energy prices this paper uses u s patent data from 1970 to 1994 to study the impact of energy prices on energy efficient innovations theories of technological change have focused both on demand side factors which spur innovative activity by increasing the value of new innovations and supply side factors such as scientific advancements that make new innovations possible data on demand side factors are easily obtained but data on supply side factors that influence innovation are not readily available this paper uses patent citations as a measure of the usefulness of the existing base of scientific knowledge citations to previous patents are used to construct productivity estimates which measure the usefulness of the existing stock of knowledge to inventors in a given energy field for any given year these estimates are then combined with data on demand side factors to estimate a model of induced innovation in energy technologies the results indicate that both energy prices and the supply of knowledge have strongly significant positive effects on innovation the paper concludes with a discussion of the implication of this work for environmental policy

corporate social responsibility product differentiation strategy and export performance this article argues that corporate social responsibility csr may contribute to product differentiation in export markets and thus improve export performance we test this argument by observing a period of decreasing export competitiveness in a leading emerging economy brazil using a large scale survey design with 252 questionnaires completed by medium and large sized brazilian exporters we used structural equations modelling to test our hypotheses the results suggest that csr product differentiation predicts export performance better than product quality differentiation and almost as well as product innovation differentiation multi group analysis further revealed that the positive and significant effect of csr product differentiation on export performance is likely to be contingent on the number and type developing vs developed of countries that are targeted our study contributes to the literature on csr and export performance by developing and empirically validating a model that explains under which conditions csr based product differentiation may lead to improved export performance

a note on the transnational solution and the transaction cost theory of multinational strategic management this article assesses the extent to which the results of bartlett and ghoshal s 1989 work can be incorporated in what has now become one of the core explanations of multinational strategic management i e the transaction cost based theory of international production we demonstrate that the transaction cost approach fully incorporates the empirical findings of bartlett and ghoshal s work to do so requires that we make a new distinction between location bound and non location bound firm specific advantages in addition three possible uses of country specific advantages by multinational enterprises need to be identified while the transnational solution as proposed by bartlett and ghoshal is not itself a new theory of multinational strategic management it is compatible with the transaction cost based model of multinational strategic management

driving effect of technology innovation on energy utilization efficiency in strategic emerging industries abstract under the policy of energy saving and emission reduction technological innovation has become the key power driver to improve energy utilization efficiency by using the panel data of 21 industrial segments between 2000 and 2015 this paper investigates the driving effect of technological innovation on energy utilization efficiency in strategic emerging industries and analyzes the critical factors influencing the driving effect of technological innovation by the stochastic frontier analysis method the empirical result shows that technological innovation between 2000 and 2015 has had a significant positive driving effect on the energy utilization efficiency of strategic emerging industries and exhibits a development trend of year by year steady state growth on the whole the greater the value of the development expenditure of new green products and the investment in environmental pollution treatment the greater the technological efficiency the greater the value of the transformation expenditure of energy saving technology the greater the technological inefficiency finally the paper proposes the countermeasures and suggestions for the driving effect of technological innovation on energy utilization efficiency in strategic emerging industries an empirical study is made to analyze the driving effect of technological innovation on energy utilization efficiency the positive and negative factors of technological innovation are forgotten strategic emerging industries can select optimal innovation behavior to improve quality and efficiency of energy utilization based on the results

reviewing the business case for corporate social responsibility new evidence and analysis this study complements previous empirical research on the business case for corporate social responsibility csr by employing hitherto unused data on corporate social performance csp and proposing statistical analyses to account for bi directional causality between social and financial performance by allowing for differences in the importance of single components of csp between industries the data in this study overcome certain limitations of the databases used in earlier studies the econometrics employed offer a rigorous way of addressing the problem of endogeneity due to simultaneous causality although the study s results provide no evidence that there is a generic or universal business case for csr they indicate that there is a strong link between single stakeholder related issues of csr and financial performance however the analysis does not establish causality within these relationships

environmental ethics and information asymmetry among organizational stakeholders this paper addresses the conflicting environmental interests of a firm and the community an important stakeholder the short term profit maximization objective of a firm may stand in contrast with what the community wants a safe and clean environment this paper argues that the information regarding the environmental impact of a firm s products processes and waste may be asymmetrically distributed between the firm and the community the resultant information asymmetry may influence the probability of a firm acting opportunistically and ultimately a firm s ethical behavior the paper identifies information asymmetry between a firm and community as well as that within the community the perceived information asymmetry across various community segments may perhaps be a determinant of environmental discrimination the paper further contends that information asymmetry may diminish in the long run finally it examines the implications of information asymmetry for firms and government policy

a review of optimal energy policy instruments on industrial energy efficiency programs rebound effects and government policies abstract industrial energy efficiency programs ieeps are defined as one of the most popular government policies that aim to reduce energy consumption in industrial energy intensive sectors in this paper we review and classify the most important academic studies that have addressed the environmental and economic aspects of ieeps using a systematic review the classification of energy policy instruments has been developed based on an analytical approach we discuss also the outputs benefits and barriers of ieeps besides a comprehensive argument about the restrictive policies on the rebound effects made after the implementation of these programs the results disclose that china usa and sweden are the most addressed countries on ieeps and their applications in this regard incentive energy policies e g voluntary agreements and subsidies have been applied more than others in the last decade furthermore most of the reviewed studies emphasize energy price reform as an effective practical policy while a few analytical methods can be seen to help policy makers determine the optimal levels of decision variables finally according to the state of the art analysis the authors provide some novel recommendations to improve the performance of ieeps using some restrictive policies on the negative impacts of rebound effects

the potential of environmental regulation to change managerial perception environmental management competitiveness and financial performance abstract this research presents an overview of where the gaps in the literature exist in relation to the link between environmental regulation and proactive environmental management and competitiveness and incorporates them in a whole model different papers have highlighted only partial aspects of these relationships specifically this research evaluates the relationship between managerial perception and the different styles of environmental regulations command and control versus voluntary norms the mediator role of environmental management in the link between environmental regulations and competitiveness the effect of competitiveness on financial performance and the two way relationship between proactive environmental management and financial performance finally this paper uses statistical evidence to test and estimate causal relationships through a structural equation modelling of 208 firms affected by ippc law in spain there is a lack of systematic statistical evidence on this topic in the literature which mainly focuses on case studies the results show that when environmental regulation stems from command and control legislation its influence on managerial perception and proactive environmental management is not significant however when environmental regulation stems from voluntary norms its effects are positive moreover investment in proactive environmental management contributes to increasing the competitiveness of the firm cost and differentiation competitive advantage have a positive impact on financial performance finally the link between proactive environmental management and financial performance may follow different paths 1 neither direct nor single because it can depend on competitive advantage and 2 direct because there is a significant two way relationship between these variables proactive environmental management influences financial performance and financial performance influences proactive environmental management

determinants of environmental innovation in us manufacturing industries abstract this paper provides new evidence on the determinants of environmental innovation we employ panel data models to study how environmental innovation by us manufacturing industries responded to changes in pollution abatement expenditures and regulatory enforcement during the period 1983 through 1992 we find that 1 environmental innovation as measured by the number of successful environmental patent applications granted to the industry responded to increases in pollution abatement expenditures however 2 increased monitoring and enforcement activities related to existing regulations did not provide any additional incentive to innovate we also find some empirical evidence that environmental innovation is more likely to occur in industries that are internationally competitive

agglomeration effects in foreign direct investment and the pollution haven hypothesis does environmental regulation impair international competitiveness of pollution intensive industries to the extent that they relocate to countries with less stringent regulation turning those countries into pollution havens we test this hypothesis using panel data on outward foreign direct investment fdi flows of various industries in the german manufacturing sector and account for several econometric issues that have been ignored in previous studies most importantly we demonstrate that externalities associated with fdi agglomeration can bias estimates away from finding a pollution haven effect if omitted from the analysis we include the stock of inward fdi as a proxy for agglomeration and employ a gmm estimator to control for endogenous time varying determinants of fdi flows furthermore we propose a difference estimator based on the least polluting industry to break the possible correlation between environmental regulatory stringency and unobservable attributes of fdi recipients in the cross section when accounting for these issues we find robust evidence of a pollution haven effect for the chemical industry

innovation and the international diffusion of environmentally responsive technology abstract new evidence is presented on environmental innovation and diffusion over the 1970s and 1980s at a global level a substantial amount of innovations occurred in the united states japan and germany the share of environmental patents in all patents varied between 0 6 and 3 and as such was higher than the corresponding share of pollution abatement expenditure in gdp japanese environmental innovation rates were consistently high certain plausible connections between environmental regulation and innovation also emerge across these three countries and over time innovation responded to pollution abatement expenditure an indicator of the severity of environmental regulations environmental patenting rates in developing countries were also high reaching 2 in many years in brazil developing country innovators obtained a non trivial number of patents most of which appear geared towards adapting imported technologies to local conditions however domestic innovation was only one path to new technologies imports of disembodied environmental technologies foreign patents registered in developing countries were substantial foreign patents were typically important or generic patents evidence also suggests that such patents protected intellectual property in equipment exported developing countries especially in east asia often chose to obtain technologies embodied in pollution abatement equipment

how national and international financial development affect industrial r d abstract we examine the impacts of both domestic and international financial market development on r d intensities in 22 manufacturing industries in 18 oecd countries for the period 1990 2003 we take account of such industry characteristics as the need for external financing and the amount of tangible assets multiple forms of domestic financial development are important determinants of r d intensity but only foreign direct investment is significant among alternative measures of international financial development we find the strongest effects for private bond market capitalization while fdi private credit by banks and stock market capitalization have similar effects in terms of magnitude

intangible resources as a key factor in the internationalisation of spanish firms abstract in this paper we analyse the effect of the availability of intangible resources measured by way of tobin s q on the probability of spanish firms increasing their international diversification we find that this impact is positive and statistically significant we also discover that firms with a higher endowment of intangible resources increase their presence in their current markets concentration and that those with a multinational status also expand to new markets scope