Corporate Governance and Climate Change: Policy, Innovation, Strategies, and Legitimacy Una revisión sistemática de la literatura y una agenda de investigación.
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mar 31, 2023
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Alan Francisco Rodriguez Jasso
http://orcid.org/0000-0001-9489-4874
Francisco García Flores
http://orcid.org/0000-0002-6186-609X
Arturo Briseño García
http://orcid.org/0000-0002-6567-241X
http://orcid.org/0000-0001-9489-4874
Francisco García Flores
http://orcid.org/0000-0002-6186-609X
Arturo Briseño García
http://orcid.org/0000-0002-6567-241X
Resumen
La crisis climática es una de las principales amenazas para la sociedad moderna. El objetivo de este estudio es conocer las prácticas de gobernanza abordadas en la literatura para enfrentar el cambio climático, identificando variables, métodos, regiones y fuentes de información que faciliten análisis novedosos para los investigadores. Se realizó una revisión sistemática de 45 estudios entre 1980 y 2019 publicados en Web of Science. Los resultados sugieren que la política, innovación, operaciones y la legitimidad son variables comunes para abordar el cambio climático. Los hallazgos muestran que Mínimos Cuadrados Ordinarios y los Datos de Panel son métodos comunes en la literatura. Economías emergentes como India, Brasil, Indonesia, Irán, Corea del Sur y México ofrecen un contexto interesante para explorar.
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RODRIGUEZ JASSO, Alan Francisco; GARCÍA FLORES, Francisco; BRISEÑO GARCÍA, Arturo.
Corporate Governance and Climate Change: Policy, Innovation, Strategies, and Legitimacy.
CIENCIA ergo-sum, [S.l.], v. 31, n. 2, mar. 2023.
ISSN 2395-8782.
Disponible en: <https://cienciaergosum.uaemex.mx/article/view/17599>. Fecha de acceso: 29 mayo 2023
Sección
Ciencias sociales
Esta obra está bajo licencia internacional Creative Commons Reconocimiento-NoComercial-SinObrasDerivadas 4.0.
Citas
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Ahn, S., & Park, D. (2018). Corporate Social Responsibility and Corporate Longevity: The Mediating Role of Social Capital and Moral Legitimacy in Korea. Journal of Business Ethics, 150(1), 117–134. https://doi.org/10.1007/s10551-016-3161-3
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Bodolica, V., & Spraggon, M. (2018). An end-to-end process of writing and publishing influential literature review articles: do’s and dont’s. Management Decision, 56, 2472–2486.
Bravo, F., & Reguera-Alvarado, N. (2018). Sustainable development disclosure: Environmental, social, and governance reporting and gender diversity in the audit committee. Business Strategy and the Environment, 28(2), 418–429. https://doi.org/10.1002/bse.2258
Busch, T., & Lewandowski, S. (2018). Corporate carbon and financial performance: a meta-analysis. Journal of Industrial Ecology, 22(4), 745–759.
Carney, M. (2005). Corporate Governance and Competitive Advantage in Family-Controlled Firms. Entrepreneurship Theory and Practice, 249–265.
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Damert, M., & Baumgartner, R. J. (2017). External pressures or internal governance – What determines the extent of corporate responses to climate change? Corporate Social Responsibility and Environmental Management, 25(4), 473–488. https://doi.org/10.1002/csr.1473
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Galbreath, J. (2010). Corporate governance practices that address climate change: An exploratory study. Business Strategy and the Environment, 19(5), 335–350. https://doi.org/10.1002/bse.648
Ganda, F. (2018). The effect of carbon performance on corporate financial performance in a growing economy. Social Responsibility Journal, 14(4), 895–916.
García-Sánchez, I., Rodríguez-Ariza, L., Aibar-Guzmán, B., & Aibar-Guzmán, C. (2020). Do institutional investors drive corporate transparency regarding business contribution to the sustainable development goals? Business Strategy and the Environment, 29(5), 2019–2036. https://doi.org/10.1002/bse.2485
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GlobeScan. (2019). The Climate Decade. Ten years to deliver the Paris Agreement. https://globescan.com/webinar-2020-climate-survey-evaluating-progress/
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Hall, P. A., & Soskice, D. (2001). An introduction to varieties of capitalism.
Hoang Duc, B., & Do Ba, K. (2017). Business responses to climate change: strategies for reducing greenhouse gas emissions in Vietnam. Asia Pacific Business Review, 23(4), 596–620. https://doi.org/10.1080/13602381.2016.1212557
Hossain, M., & Farooque, O. (2019). The emission trading system, risk management committee and voluntary corporate response to climate change - a CDP study. International Journal of Accounting and Information Management, 27(2), 262–283.
Husted, B. W., & Serrano, C. (2002). Corporate governance in Mexico. Journal of Business Ethics, 37(3), 337–348. https://doi.org/10.1023/A:1015201417632
Imtiaz, M., Adams, C. A., & Boyce, G. (2019). Institutional drivers of environmental management accounting adoption in public sector water organizations. Accounting, Auditing and Accountability Journal, 32(4), 984–1012. https://doi.org/10.1108/AAAJ-09-2017-3145
IPCC. (2018). IPCC special report on the impacts of global warming of 1.5 °C - Summary for policymakers (Issue October 2018). http://www.ipcc.ch/report/sr15/
Kawai, N., Strange, R., & Zucchella, A. (2018). Stakeholder pressures, EMS implementation, and green innovation in MNC overseas subsidiaries. International Business Review, 27(5), 933–946. https://doi.org/10.1016/j.ibusrev.2018.02.004
Kiel, G. C., & Nicholson, G. J. (2005). Evaluating boards and directors. Corporate Governance: An International Review, 13(5), 613–630. https://doi.org/10.1111/j.1467-8683.2005.00455.x
Kılıç, M., & Kuzey, C. (2018). The effect of corporate governance on carbon emission disclosures: Evidence from Turkey. International Journal of Climate Change Strategies and Management, 11(1), 35–53. https://doi.org/10.1108/IJCCSM-07-2017-0144
Kumarasiri, J. (2017). Stakeholder pressure on carbon emissions: strategies and the use of management accounting. Australasian Journal of Environmental Management, 24(4), 339–354. https://doi.org/10.1080/14486563.2017.1350210
Lehn, K. (2021). Corporate governance and corporate agility. Journal of Corporate Finance, 66, 101929.
Li, Y., Gong, M., Zhang, X. Y., & Koh, L. (2017). The impact of environmental, social, and governance disclosure on firm value: The role of CEO power. British Accounting Review, 50(1), 60–75. https://doi.org/10.1016/j.bar.2017.09.007
Mann, M., & Kump, L. R. (2015). Dire predictions: Understanding climate change. (2nd. edition). DK Publishing.
Moya-Clemente, I., Ribes-Giner, G., & Pantoja-Díaz, O. (2019). Configurations of sustainable development goals that promote sustainable entrepreneurship over time. Sustainable Development, 28(4), 572–584. https://doi.org/10.1002/sd.2009
Qian, W., Suryani, A. W., & Xing, K. (2020). Does carbon performance matter to market returns during climate policy changes? Evidence from Australia. Journal of Cleaner Production, 259, 1–10. https://doi.org/10.1016/j.jclepro.2020.121040
Queen, P. (2014). Enlightened Shareholder Maximization: Is this Strategy Achievable? Journal of Business Ethics, 127(3), 683–694. https://doi.org/10.1007/s10551-014-2070-6
Rodriguez-Jasso, A. F., Briseño, A., & Zorrilla, A. L. (2021). The impact of Strategic Climate Planning on Carbon Performance : An empirical examination of Mexican listed firms. UCJC Business and Society Review (Universia Business Review), 18(3), 52–125. https://doi.org/10.3232/UBR.2021.V18.N3.02
Severo, P., Furstenau, L. B., Sott, M., Cossul, D., Bender, M., & Bragazzi, N. (2021). Thirty years of human rights study in the web of science database (1990–2020). International Journal of Environmental Research and Public Health, 18(4), 1–24. https://doi.org/10.3390/ijerph18042131
Sullivan, R., & Gouldson, A. (2017). The Governance of Corporate Responses to Climate Change: An International Comparison. Business Strategy and the Environment, 26(4), 413–425. https://doi.org/10.1002/bse.1925
Talbot, D., & Boiral, O. (2015). Strategies for Climate Change and Impression Management: A Case Study Among Canada’s Large Industrial Emitters. Journal of Business Ethics, 132(2), 329–346. https://doi.org/10.1007/s10551-014-2322-5
Tang, Q., & Luo, L. (2014). Carbon management systems and carbon mitigation. Australian Accounting Review, 24(1), 84–98. https://doi.org/10.1111/auar.12010
Teixeira, M., De Déa Roglio, K., & Marcon, R. (2016). Institutional logic and the decision-making process of adopting corporate governance at a cooperative organization. Journal of Management and Governance, 21(1), 181–209. https://doi.org/10.1007/s10997-016-9340-x
Torraco, R. J. (2016). Writing Integrative Literature Reviews: Using the Past and Present to Explore the Future. Human Resource Development Review, 15(4), 404–428. https://doi.org/10.1177/1534484316671606
Tranfield, D., Denyer, D., & Smart, P. (2003). Towards a methodology for developing evidence-informed management knowledge by means of a systematic review. British Journal of Management, 14, 207–222. https://doi.org/10.2307/249689
Velte, P., Stawinoga, M., & Lueg, R. (2020). Carbon performance and disclosure: A systematic review of governance-related determinants and financial consequences. Journal of Cleaner Production, 254, 120063. https://doi.org/10.1016/j.jclepro.2020.120063
Wijen, F., & Ansari, S. (2012). Overcoming inaction through collective institutional entrepreneurship: Insights from regime theory. Organization Studies, 28(7), 1079–1100. https://doi.org/10.1177/0170840607078115
WRI. (2020). World ten top emitters. World Resources Institute. https://www.wri.org/blog/2020/12/interactive-chart-top-emitters
Wright, C., & Nyberg, D. (2017). An inconvenient truth: How organizations translate climate change into business as usual. Academy of Management Journal, 60(5), 1633–1661. https://doi.org/10.5465/amj.2015.0718
Yunus, S., Elijido-Ten, E., & Abhayawansa, S. (2016). Determinants of carbon management strategy adoption. Evidence from Australia’s top 200 publicly listed firms. Managerial Auditing Journal, 31(2), 156–179.
CC BY-NC-ND
Aguilera, R. V. ., & Jackson, G. (2010). Comparative and International Corporate Governance. The Academy of Management Annals, 4(1), 485–556. https://doi.org/10.1080/1351847X.2014.902857
Ahn, S., & Park, D. (2018). Corporate Social Responsibility and Corporate Longevity: The Mediating Role of Social Capital and Moral Legitimacy in Korea. Journal of Business Ethics, 150(1), 117–134. https://doi.org/10.1007/s10551-016-3161-3
Akbaş, H. E., & Canikli, S. (2018). Determinants of voluntary greenhouse gas emission disclosure: An empirical investigation on Turkish firms. Sustainability, 11(1), 1–24. https://doi.org/10.3390/su11010107
Amran, A., Ooi, S. K., Wong, C. Y., & Hashim, F. (2015). Business Strategy for Climate Change: An ASEAN Perspective. Corporate Social Responsibility and Environmental Management, 23(4), 213–227. https://doi.org/10.1002/csr.1371
Amran, A., Periasamy, V., & Zulkafli, A. H. (2011). Determinants of climate change disclosure by developed and emerging countries in the asia pacific. Sustainable Development, 22(3), 188–204. https://doi.org/10.1002/sd.539
Bodolica, V., & Spraggon, M. (2018). An end-to-end process of writing and publishing influential literature review articles: do’s and dont’s. Management Decision, 56, 2472–2486.
Bravo, F., & Reguera-Alvarado, N. (2018). Sustainable development disclosure: Environmental, social, and governance reporting and gender diversity in the audit committee. Business Strategy and the Environment, 28(2), 418–429. https://doi.org/10.1002/bse.2258
Busch, T., & Lewandowski, S. (2018). Corporate carbon and financial performance: a meta-analysis. Journal of Industrial Ecology, 22(4), 745–759.
Carney, M. (2005). Corporate Governance and Competitive Advantage in Family-Controlled Firms. Entrepreneurship Theory and Practice, 249–265.
Coles, J. W., McWilliams, V. B., & Sen, N. (2001). An examination of the relationship of governance mechanisms to performance. Journal of Management, 27(1), 23–50. https://doi.org/10.1016/S0149-2063(00)00085-4
Damert, M., & Baumgartner, R. J. (2017). External pressures or internal governance – What determines the extent of corporate responses to climate change? Corporate Social Responsibility and Environmental Management, 25(4), 473–488. https://doi.org/10.1002/csr.1473
Damert, M., Paul, A., & Baumgartner, R. J. (2017). Exploring the determinants and long-term performance outcomes of corporate carbon strategies. Journal of Cleaner Production, 160, 123–138. https://doi.org/10.1016/j.jclepro.2017.03.206
Dao, B., & Ta, T. (2020). A meta-analysis: capital structure and firm performance. Journal of Economics and Development, 22(1), 111–129. https://doi.org/10.1108/jed-12-2019-0072
Denyer, D., & Tranfield, D. (2009). Producing a systematic review. (D. Buchanan & A. Bryman (eds.)). The Sage Handbook of Organizational Research Methods.
Edmondson, A. C., & McManus, S. E. (2007). Fit in Methodological Management Field Research. Academy of Management Review, 32(4), 1155–1179.
European Comission. (2016). The Road from Paris: assessing the implications of the Paris Agreement and accompanying the proposal for a Council Decision on the signing, on behalf of the European Union, of the Paris Agreement adopted under the United Nations Framework Convention on Cl.
Freeman, R. E. (1984). Strategic Management: A Stakeholder Approach. Pitman.
Galbreath, J. (2010). Corporate governance practices that address climate change: An exploratory study. Business Strategy and the Environment, 19(5), 335–350. https://doi.org/10.1002/bse.648
Ganda, F. (2018). The effect of carbon performance on corporate financial performance in a growing economy. Social Responsibility Journal, 14(4), 895–916.
García-Sánchez, I., Rodríguez-Ariza, L., Aibar-Guzmán, B., & Aibar-Guzmán, C. (2020). Do institutional investors drive corporate transparency regarding business contribution to the sustainable development goals? Business Strategy and the Environment, 29(5), 2019–2036. https://doi.org/10.1002/bse.2485
Garrad, J. (2004). Health Sciences Literature Review Made Easy: The Matrix Method. (2nd.). Jones & Barlett Publ Inc.
GlobeScan. (2019). The Climate Decade. Ten years to deliver the Paris Agreement. https://globescan.com/webinar-2020-climate-survey-evaluating-progress/
Gough, D., Oliver, S., & Thomas, J. (2017). Introducing systematic reviews. In D. Gough, S. Oliver, & J. Thomas (Eds.), An introduction to systematic reviews (2nd ed., pp. 1–18). SAGE Publications.
Hall, P. A., & Soskice, D. (2001). An introduction to varieties of capitalism.
Hoang Duc, B., & Do Ba, K. (2017). Business responses to climate change: strategies for reducing greenhouse gas emissions in Vietnam. Asia Pacific Business Review, 23(4), 596–620. https://doi.org/10.1080/13602381.2016.1212557
Hossain, M., & Farooque, O. (2019). The emission trading system, risk management committee and voluntary corporate response to climate change - a CDP study. International Journal of Accounting and Information Management, 27(2), 262–283.
Husted, B. W., & Serrano, C. (2002). Corporate governance in Mexico. Journal of Business Ethics, 37(3), 337–348. https://doi.org/10.1023/A:1015201417632
Imtiaz, M., Adams, C. A., & Boyce, G. (2019). Institutional drivers of environmental management accounting adoption in public sector water organizations. Accounting, Auditing and Accountability Journal, 32(4), 984–1012. https://doi.org/10.1108/AAAJ-09-2017-3145
IPCC. (2018). IPCC special report on the impacts of global warming of 1.5 °C - Summary for policymakers (Issue October 2018). http://www.ipcc.ch/report/sr15/
Kawai, N., Strange, R., & Zucchella, A. (2018). Stakeholder pressures, EMS implementation, and green innovation in MNC overseas subsidiaries. International Business Review, 27(5), 933–946. https://doi.org/10.1016/j.ibusrev.2018.02.004
Kiel, G. C., & Nicholson, G. J. (2005). Evaluating boards and directors. Corporate Governance: An International Review, 13(5), 613–630. https://doi.org/10.1111/j.1467-8683.2005.00455.x
Kılıç, M., & Kuzey, C. (2018). The effect of corporate governance on carbon emission disclosures: Evidence from Turkey. International Journal of Climate Change Strategies and Management, 11(1), 35–53. https://doi.org/10.1108/IJCCSM-07-2017-0144
Kumarasiri, J. (2017). Stakeholder pressure on carbon emissions: strategies and the use of management accounting. Australasian Journal of Environmental Management, 24(4), 339–354. https://doi.org/10.1080/14486563.2017.1350210
Lehn, K. (2021). Corporate governance and corporate agility. Journal of Corporate Finance, 66, 101929.
Li, Y., Gong, M., Zhang, X. Y., & Koh, L. (2017). The impact of environmental, social, and governance disclosure on firm value: The role of CEO power. British Accounting Review, 50(1), 60–75. https://doi.org/10.1016/j.bar.2017.09.007
Mann, M., & Kump, L. R. (2015). Dire predictions: Understanding climate change. (2nd. edition). DK Publishing.
Moya-Clemente, I., Ribes-Giner, G., & Pantoja-Díaz, O. (2019). Configurations of sustainable development goals that promote sustainable entrepreneurship over time. Sustainable Development, 28(4), 572–584. https://doi.org/10.1002/sd.2009
Qian, W., Suryani, A. W., & Xing, K. (2020). Does carbon performance matter to market returns during climate policy changes? Evidence from Australia. Journal of Cleaner Production, 259, 1–10. https://doi.org/10.1016/j.jclepro.2020.121040
Queen, P. (2014). Enlightened Shareholder Maximization: Is this Strategy Achievable? Journal of Business Ethics, 127(3), 683–694. https://doi.org/10.1007/s10551-014-2070-6
Rodriguez-Jasso, A. F., Briseño, A., & Zorrilla, A. L. (2021). The impact of Strategic Climate Planning on Carbon Performance : An empirical examination of Mexican listed firms. UCJC Business and Society Review (Universia Business Review), 18(3), 52–125. https://doi.org/10.3232/UBR.2021.V18.N3.02
Severo, P., Furstenau, L. B., Sott, M., Cossul, D., Bender, M., & Bragazzi, N. (2021). Thirty years of human rights study in the web of science database (1990–2020). International Journal of Environmental Research and Public Health, 18(4), 1–24. https://doi.org/10.3390/ijerph18042131
Sullivan, R., & Gouldson, A. (2017). The Governance of Corporate Responses to Climate Change: An International Comparison. Business Strategy and the Environment, 26(4), 413–425. https://doi.org/10.1002/bse.1925
Talbot, D., & Boiral, O. (2015). Strategies for Climate Change and Impression Management: A Case Study Among Canada’s Large Industrial Emitters. Journal of Business Ethics, 132(2), 329–346. https://doi.org/10.1007/s10551-014-2322-5
Tang, Q., & Luo, L. (2014). Carbon management systems and carbon mitigation. Australian Accounting Review, 24(1), 84–98. https://doi.org/10.1111/auar.12010
Teixeira, M., De Déa Roglio, K., & Marcon, R. (2016). Institutional logic and the decision-making process of adopting corporate governance at a cooperative organization. Journal of Management and Governance, 21(1), 181–209. https://doi.org/10.1007/s10997-016-9340-x
Torraco, R. J. (2016). Writing Integrative Literature Reviews: Using the Past and Present to Explore the Future. Human Resource Development Review, 15(4), 404–428. https://doi.org/10.1177/1534484316671606
Tranfield, D., Denyer, D., & Smart, P. (2003). Towards a methodology for developing evidence-informed management knowledge by means of a systematic review. British Journal of Management, 14, 207–222. https://doi.org/10.2307/249689
Velte, P., Stawinoga, M., & Lueg, R. (2020). Carbon performance and disclosure: A systematic review of governance-related determinants and financial consequences. Journal of Cleaner Production, 254, 120063. https://doi.org/10.1016/j.jclepro.2020.120063
Wijen, F., & Ansari, S. (2012). Overcoming inaction through collective institutional entrepreneurship: Insights from regime theory. Organization Studies, 28(7), 1079–1100. https://doi.org/10.1177/0170840607078115
WRI. (2020). World ten top emitters. World Resources Institute. https://www.wri.org/blog/2020/12/interactive-chart-top-emitters
Wright, C., & Nyberg, D. (2017). An inconvenient truth: How organizations translate climate change into business as usual. Academy of Management Journal, 60(5), 1633–1661. https://doi.org/10.5465/amj.2015.0718
Yunus, S., Elijido-Ten, E., & Abhayawansa, S. (2016). Determinants of carbon management strategy adoption. Evidence from Australia’s top 200 publicly listed firms. Managerial Auditing Journal, 31(2), 156–179.
CC BY-NC-ND