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Corporate Environmental Strategy and Stakeholder Management from a Green Economy Perspective —2nd Edition

A special issue of Sustainability (ISSN 2071-1050). This special issue belongs to the section "Economic and Business Aspects of Sustainability".

Deadline for manuscript submissions: closed (7 December 2024) | Viewed by 8511

Special Issue Editors

School of International Studies, Hanyang University, Seoul 04763, Republic of Korea
Interests: environmental sustainability; green management; global strategy; knowledge and innovation; business ethics
Special Issues, Collections and Topics in MDPI journals

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Guest Editor
International Business, Chungbuk National University, Cheongju, Republic of Korea
Interests: business strategy; global business case; global strategic management
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Guest Editor
Division of Business Administration & Accounting, Kangwon National University, Chuncheon, Republic of Korea
Interests: digital transformation; knowledge transfer and creation in mNes; emerging market global companies; algorithm-based measurement of ESG
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Guest Editor
Department of Global Business, Mokwon University, Daejeon, Republic of Korea
Interests: ESG; sustainable management; ecosystem strategy; digitalization capability and strategy
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Special Issue Information

Dear Colleagues,

There is a growing need to implement a green economy approach to product and service development across the corporate environmental strategy. In this effort, sustainable management plays a vital role, encompassing environmental, social, and economic perspectives. To meet the needs of stakeholders through a multifaceted approach, companies are adopting a corporate environmental strategy that accommodates a green economy approach to socially qualified products and services. By reallocating and reusing resources and converting waste streams into inputs for further production, green economy has become rampant, driven by rapid urbanization, climate change, technological advances, and an increasing demand for limited natural resources. We assume that the benefits of the green economy include optimizing resources, improving stakeholder relationships, improving brand reputation, and alleviating uncertainty in global markets, leading to a virtuous cycle of sustainability.

However, given the circumstances described above, discussion of and research into the green economy are still underdeveloped. Key topics such as corporate environmental strategy and stakeholder management require more research in both theoretical and empirical settings. Corporate environmental strategy leads to a resource-circulating economy by changing the global supply chain in predominant business disciplines. For example, multinational efforts to fulfill the Sustainable Development Goals (SDGs) that have gone beyond the agenda of the United Nations hasten companies’ realization that the SDGs are closely related to stakeholders. Therefore, SDGs as a catalyst for a green economy can be seen as an inevitable alert to accelerate the green transition of the current business model of mass production, mass consumption, and mass disposal. In this regard, the submission of manuscripts answering these questions is encouraged to fill these research gaps.

To further develop green economy approaches, to foster dialogue on corporate environmental responsibility, and to promote research findings in the field of stakeholder management, this Special Issue calls for papers focusing on the following topics:

  • Green economy and sustainability

- Green economy approaches for consumers;

- Sustainable business models for green economy;

- Sustainability and green economy through sustainable innovation;

- Quantitative and qualitative methodologies for green economy;

- Conceptual approach for carbon footprint;

- Other issues/fields related to green economy and sustainability.

  • Corporate environmental strategy for green economy

- Sustainable production and consumption;

- Eco-design, eco-labeling, eco-packaging, and eco-shopping;

- Green supply chain management;

- Green product innovation and green process innovation;

- Green marketing strategy;

- Other issues/fields related to green economy and corporate environmental strategy.

  • Green economy and stakeholder management

- Stakeholder pressures for eco-friendly environment;

- Policy promotions for green economy;

- Corporate social responsibility for sustainability;

- Consumer awareness of green economy and stakeholder management;

- Literature review for green economy and stakeholder management;

- Other issues/fields related to green economy and stakeholder management.

Dr. Taewoo Roh
Dr. Jinsup Jung
Dr. Oh Suk Yang
Dr. Min-jae Lee
Guest Editors

Manuscript Submission Information

Manuscripts should be submitted online at www.mdpi.com by registering and logging in to this website. Once you are registered, click here to go to the submission form. Manuscripts can be submitted until the deadline. All submissions that pass pre-check are peer-reviewed. Accepted papers will be published continuously in the journal (as soon as accepted) and will be listed together on the special issue website. Research articles, review articles as well as short communications are invited. For planned papers, a title and short abstract (about 100 words) can be sent to the Editorial Office for announcement on this website.

Submitted manuscripts should not have been published previously, nor be under consideration for publication elsewhere (except conference proceedings papers). All manuscripts are thoroughly refereed through a single-blind peer-review process. A guide for authors and other relevant information for submission of manuscripts is available on the Instructions for Authors page. Sustainability is an international peer-reviewed open access semimonthly journal published by MDPI.

Please visit the Instructions for Authors page before submitting a manuscript. The Article Processing Charge (APC) for publication in this open access journal is 2400 CHF (Swiss Francs). Submitted papers should be well formatted and use good English. Authors may use MDPI's English editing service prior to publication or during author revisions.

Keywords

  • green economy
  • corporate environmental strategy
  • sustainable innovation
  • sustainable business
  • stakeholder management
  • green innovation

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Published Papers (4 papers)

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Research

24 pages, 275 KiB  
Article
Linking ESG Management to Corporate Success: The Influence of Board Composition
by Hyeon-Jae Kim and Oh-Suk Yang
Sustainability 2025, 17(3), 819; https://doi.org/10.3390/su17030819 - 21 Jan 2025
Viewed by 1154
Abstract
The main objective of this paper is to examine the impact of ESG management on corporate performance by focusing on board characteristics. To this end, this study uses financial data and empirical panel data of Fortune 300 firms from 2008 to 2021 and [...] Read more.
The main objective of this paper is to examine the impact of ESG management on corporate performance by focusing on board characteristics. To this end, this study uses financial data and empirical panel data of Fortune 300 firms from 2008 to 2021 and firm-specific ESG scores derived from the European Sustainability Reporting Standard (ESRS) to conduct an empirical analysis. Specifically, a panel model analysis was conducted to examine the relationship between ESG management and firm performance using alternative variables on board characteristics. In the basic model analysis, we adopted alternative variables for ESG management and board characteristics and conducted a panel model analysis to examine the relationship between these factors and corporate performance. In the basic model analysis that included board characteristics, only board size (+) and nationality diversity (−) had a statistically significant effect on corporate performance, while gender diversity had no statistically significant effect on corporate performance. However, in the full model analysis, where board characteristics and ESG management were combined, factors E (−) and S (+) had statistically significant effects on firm performance, confirming that the presence of a board of directors leads to better performance. We found that the effects of E and S on firm performance were reversed, indicating that there is a difference in the cost of ESG management by factor. Finally, G did not have a statistically significant relationship with firm performance, which was likely due to the fact that the characteristics of the board were already reflected in ESG, confirming the role of the board. As a result, the board of directors seems to help with the smooth implementation of ESG management by focusing on internal stabilization and communication, suggesting that future research should consider the impact of the board of directors rather than analyzing ESG management in isolation. The results also show that the board of directors in the G sector has a significant impact on ESG management, but it is not treated as an important factor in ESG evaluation criteria, suggesting that it is necessary to reflect factors on stakeholder communication. Finally, the practical implication is that a united board is necessary to implement ESG management in corporate operations. Full article
20 pages, 635 KiB  
Article
Outward Foreign Direct Investment and Corporate Environmental Investment: Competition or Cooperation?
by Qingmei Xue and Fuyou Li
Sustainability 2024, 16(14), 6168; https://doi.org/10.3390/su16146168 - 18 Jul 2024
Cited by 1 | Viewed by 1278
Abstract
China is currently in a crucial phase of establishing a new domestic and international “dual circulation”, and a new model of sustainable development. OFDI and environmental investment play significant roles in both external and internal economic cycles. In this study, we constructed a [...] Read more.
China is currently in a crucial phase of establishing a new domestic and international “dual circulation”, and a new model of sustainable development. OFDI and environmental investment play significant roles in both external and internal economic cycles. In this study, we constructed a multi-period difference-in-differences (DID) model, using data from listed companies in China from 2008 to 2022, to analyze how OFDI impacts domestic environmental investment and its underlying mechanism. The findings demonstrated that OFDI can significantly reduce the environmental investment made by domestic enterprises. There exists a capital competition relationship between these two activities due to financing constraints, although OFDI can mitigate environmental issues by reducing pollution emissions and promoting industrial structure upgrading within the home country, resulting in savings on environmental investments. Heterogeneity analysis revealed that the negative impact of OFDI on environmental investment is primarily observed in non-state-owned enterprises, firms investing in developed countries, and those subject to strict environmental requirements imposed by host governments. This study explains the internal logic of China’s environmental investment reduction from the perspective of OFDI, deepens the study of the environmental consequences of OFDI, broadens the applicable boundaries of the theory of OFDI’s impact on environmental investment, and provides insights for the government to establish a high-level opening-up pattern and address the dilemma of environmental governance. Full article
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17 pages, 429 KiB  
Article
The Impacts of External Sustainability: Institutional Investors’ Sustainable Identity, Corporate Environmental Responsibility, and Green Innovation
by Xiao Yan and Chengning Yang
Sustainability 2024, 16(5), 1961; https://doi.org/10.3390/su16051961 - 27 Feb 2024
Cited by 1 | Viewed by 3528
Abstract
Motivated by the growing importance of corporate sustainable development and corporate executives’ strong desire for shareholder input, this paper fulfills the research gap of corporate green innovation determinants from the view of institutional investors’ sustainability, which is scarcely investigated in related research. Prior [...] Read more.
Motivated by the growing importance of corporate sustainable development and corporate executives’ strong desire for shareholder input, this paper fulfills the research gap of corporate green innovation determinants from the view of institutional investors’ sustainability, which is scarcely investigated in related research. Prior research (on green innovation determinants) mostly focused on internal sustainability’s influencing effects (e.g., green absorptive capacity, green organizational identify); few investigated the role of external sustainability (e.g., institutional investors) in influencing corporate green innovation. We examine the potential impact of institutional investors’ sustainable identity and corporate environmental responsibility efforts on green innovation, utilizing the difference-in-differences (DID) design along with Chinese-listed companies’ data from 2010 to 2020. Our empirical results confirm that an institutional investor’s sustainable identity has a promoting effect on corporate green innovation. This promoting effect is more pronounced in companies that perform better in environmental responsibility. Our cross-sectional analysis validates such better-performing effects. Additionally, we find that this external sustainable identity produces a shock effect similar to a sustainable rating from a third-party agency on corporate green innovation. Our study contributes to the literature on green innovations’ external green (sustainable) determinants and the research on institutions’ outcomes (prior research investigated institutional investors’ various characteristics, such as ownership dispersion and site visit, on influencing corporate green innovation, though few determined whether their sustainable identity produced such effects). Full article
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17 pages, 1427 KiB  
Article
A Study on the Measurement and Influences of Energy Green Efficiency: Based on Panel Data from 30 Provinces in China
by Yulin Lu, Chengyu Li and Min-Jae Lee
Sustainability 2023, 15(21), 15381; https://doi.org/10.3390/su152115381 - 27 Oct 2023
Cited by 1 | Viewed by 1410
Abstract
China’s rapid economic growth has inevitably led to serious resource depletion, environmental degradation, and a decline in social welfare. As such, establishing total-factor energy green efficiency (TFEGE) and exploring its factors are of paramount importance to bolster comprehensive energy efficiency and foster sustainable [...] Read more.
China’s rapid economic growth has inevitably led to serious resource depletion, environmental degradation, and a decline in social welfare. As such, establishing total-factor energy green efficiency (TFEGE) and exploring its factors are of paramount importance to bolster comprehensive energy efficiency and foster sustainable development. In this research, we deployed the spatial lag model (SLM) and data envelopment analysis (DEA), using energy, capital and labor as input indicators, GDP and social dimension metrics as desirable outputs, and “three wastes” as undesirable outputs, to assess the TFEGE across 30 provinces in China from 2001 to 2020. Employing the exploratory spatial data analysis (ESDA) method, we analyzed the spatial autocorrelation of TFEGE at national and provincial levels. Simultaneously, we examined the influencing factors of TFEGE using a spatial econometric model. Our study reveals that, throughout the examined period, the TFEGE in China has generally shown a steady decline. The TFEGE dropped from 0.630 to 0.553. The TFEGE of all regions in China also showed a downward trend, but the rate of decrease varied significantly across different regions. Among them, the TFEGE of the eastern region fluctuated between 0.820 and 0.778. The TFEGE of the northeast region decreased significantly from 0.791 to 0.307. The TFEGE of the western region decreased from 0.512 to 0.486. The TFEGE of the central region decreased from 0.451 to 0.424. Beijing, Guangdong, Hainan, Qinghai, and Ningxia showed an effective TFEGE, while for other provinces, it was ineffective. The TFEGE in all four major regions failed to achieve effectiveness. Its distribution pattern was east > west > northeast > central. The TFEGE across the 30 provinces showed positive spatial autocorrelation, indicating a strong spatial clustering trend. We found that while transportation infrastructure and technological progression exert a positive impact on TFEGE, elements such as industrial structure, energy composition, and foreign direct investment negatively influence TFEGE. Full article
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