Corporate performance implications of extended stakeholder management: New insights on mediation and moderation effects

Ecological Economics

Volumn 70, Issue 5, 2011, Pages 942-950

  Wagner, Marcus ^a,b  

^a UNIVERSITY OF WÜRZBURG   (Germany)

^b UNIVERSITÉ DE STRASBOURG   (France)

Author keywords

Economic; Environmental; Integration; Mediation; Moderation; Performance; Stakeholder

Indexed keywords

CORPORATE STRATEGY; ECONOMIC ANALYSIS; ENVIRONMENTAL ECONOMICS; INTEGRATED APPROACH; MANAGEMENT PRACTICE; PERFORMANCE ASSESSMENT; PROFITABILITY; STAKEHOLDER;

EID: 79952072821     PISSN: 09218009     EISSN: None     Source Type: Journal    
DOI: 10.1016/j.ecolecon.2010.12.010     Document Type: Article

References (71)

1. Akaike H. A new look at statistical model identification. IEEE Transactions on Automatic Control 1974, 19:716-723.
2. Akaike H. Factor analysis and AIC. Psychometrika 1987, 52:317-332.
3. Ambec S., Lanoie P. Does it pay to be green? A systematic overview. Academy of Management Perspectives 2008, 22(4):45-62.
4. Anderson J.C., Gerbing D.W. Some methods for respecifying measurement models to obtain unidimensional construct measurement. Journal of Marketing Research 1982, 19(4):453-460.
5. Aragon-Correa A., Sharma S. A contingent resource-based view of proactive environmental strategy. Academy of Management Review 2003, 28:71-88.
6. Arbuckle J.L. Amos 4 1999, SmallWaters Corporation, Chicago.
7. Armstrong J.S., Overton T.S. Estimating nonresponse bias in mail surveys. Journal of Marketing Research 1977, 14:396-402.
8. Bagozzi R.P., Yi Y. On the evaluation of structural equation models. Journal of the Academy of Marketing Science 1988, 16:74-94.
9. Batenburg R.S. The mutual relationship between the environmental context and management in the Netherlands. Managing the Business Case for Sustainability, Greenleaf, Sheffield 2006, 312-327. S. Schaltegger, M. Wagner (Eds.).
10. Baumgartner H., Homburg C. Applications of structural equation modeling in marketing and consumer research: a review. International Journal of Research in Marketing 1996, 13:139-161.
11. Bentler P.M., Bonnett D.G. Significance test and goodness of fit in the analysis of covariance structures. Psychological Bulletin 1980, 88:588-606.
12. Berman S., Wicks A. Does stakeholder orientation matter? The relationship between stakeholder management models and firm financial performance. Academy of Management Journal 1999, 42(5):488-506.
13. BfA (Bundesanstalt für Arbeit) Written communication of Bundesanstalt für Arbeit on the number of firms in the German manufacturing sector (as of 31 Dec1999), data provided 8 Nov 2000 2000.
14. Bollen K.A. Structural Equations with Latent Variables 1989, Wiley, New York.
15. Boons F., Wagner M. Assessing the relationship between economic and ecological performance: distinguishing system levels and the role of innovation. Ecological Economics 2009, 68:1908-1914.
16. Brammer S., Millington A. Firm size, organizational visibility and corporate philanthropy: an empirical analysis. Business Ethics: A European Review 2006, 15(1):6-18.
17. Burke L., Logsdon J. How corporate social responsibility pays off. Long Range Planning 1996, 29(4):495-502.
18. Burritt R., Saka C. Environmental management accounting applications and eco-efficiency: case studies from Japan. Journal of Cleaner Production 2006, 14(14):1262-1275.
19. Buysse K., Verbeke A. Proactive environmental strategies: a stakeholder management perspective. Strategic Management Journal 2003, 24:453-470.
20. Christmann P. Effects of 'best practices' on environmental management. Academy of Management Journal 2000, 3(4):663-680.
21. Churchill G.A. A paradigm for developing better measures of marketing construct. Journal of Marketing Research 1979, 16:64-73.
22. Clarkson M. A stakeholder framework for analyzing and evaluating corporate social performance. Academy of Management Review 1995, 20(1):92-117.
23. Dixon-Fowler H.R., Slater D.J., Romi A.M., Johnson J.L., Ellstrand A.E. Beyond 'does it pay to be green?': a meta-analysis of moderators of the CEP-CFP relationship. Paper at the Academy of Management Meeting, Chicago, 6-11 August 2009.
24. Doh J.P., Terrence G.R. Corporate social responsibility, public policy, and NGO activism in europe and the united states: an institutional-stakeholder perspective. Journal of Management Studies 2006, 43(1):47-73.
25. Donaldson T., Preston L. The stakeholder theory of the corporation: concepts, evidence, and implications. Academy of Management Review 1995, 20:65-91.
26. Feichtinger G., Hartl R., Kort P., Veliov V. Environmental policy, the Porter hypothesis and the composition of capital: effects of learning and technological progress. Journal of Environmental Economics & Management 2005, 50:434-446.
27. Fornell C., Larcker D.F. Evaluating structural equation models with unobservable variables and measurement error. Journal of Marketing Research 1981, 18:39-50.
28. Frooman J. Stakeholder influence strategies. Academy of Management Review 1999, 24:191-205.
29. González-Benito J., González-Benito O. Implications of market orientation on the environmental transformation of industrial firms. Ecological Economics 2008, 64:752-762.
30. Hamschmidt J., Dyllick T. ISO 14001: profitable-yes! But is it eco-effective?. Greener Management International 2002, 34:43-54.
31. Harms R., Wagner M., Glauner W. Relating personal, firm based and environmental factors to CSR activities in owner-managed SME. Journal of Small Business and Entrepreneurship 2010, 23(2):195-210.
32. Hart S. A natural-resource-based view of the firm. Academy of Management Review 1995, 20:874-907.
33. Henriques I., Sadorsky P. The determinants of an environmentally responsive firm: an empirical approach. Journal of Environmental Economics and Management 1996, 30:381-395.
34. Henriques I., Sadorsky P. The relationship between environmental commitment and managerial perceptions of stakeholder importance. Academy of Management Journal 1999, 42(1):87-99.
35. Hisrich R., Peters M., Shepherd D. Entrepreneurship 2007, McGraw-Hill, New York.
36. Iraldo F., Testa F., Frey M. Is an environmental management system able to influence environmental and competitive performance? The case of the eco-management and audit scheme (EMAS) in the European Union. Journal of Cleaner Production 2009, 17(16):1444-1452.
37. Jansson A., Nilsson F., Rapp B. Environmentally driven mode of business development: a management control perspective. Scandinavian Journal of Management 2000, 16:303-333.
38. Johnstone N., Labonne J. Why do manufacturing facilities introduce environmental management systems? Improving and/or signaling performance. Ecological Economics 2009, 68:719-730.
39. Judge W.Q., Douglas T.J. Performance implications of incorporating natural environmental issues into the strategic planning process: an empirical assessment. Journal of Management Studies 1998, 35:241-262.
40. Klassen R.D., McLaughlin C.P. The impact of environmental management on firm performance. Management Science 1996, 42(8):1199-1214.
41. Kotler P., Berger R., Bickhoff N. The Quintessence of Strategic Management: What You Really Need to Know to Survive in Business 2010, Springer, Heidelberg.
42. Krajnc D., Glavic P. How to compare companies on relevant dimensions of sustainability. Ecological Economics 2005, 55:551-563.
43. Lankoski L. Corporate responsibility activities and economic performance: a theory of why and how they are connected. Business Strategy and the Environment 2008, 17:536-547.
44. Larson A.L. Sustainable innovation through an entrepreneurship lens. Business Strategy and the Environment 2000, 9:304-317.
45. Margolis J., Walsh J. People and profits: the search for a link between a company's social and financial performance 2001, Lawrence Erlbaum Associates, Mahwah.
46. Margolis J., Walsh J. Misery loves companies: rethinking social initiatives by business. Administrative Science Quarterly 2003, 48:268-305.
47. McWilliams A., Siegel D.S., Wright P.M. Corporate social responsibility: strategic implications. Journal of Management Studies 2006, 43(1):1-136.
48. Muller D., Judd C.M., Yzerbyt V.Y. When moderation is mediated and mediation is moderated. Journal of Personality and Social Psychology 2005, 89(6):852-863.
49. Murillo-Luna J.L., Garces-Ayerbe C., Rivera-Torres P. Why do patterns of environmental response differ? A stakeholders' pressure approach. Strategic Management Journal 2008, 29:1225-1240.
50. Nishitani K. An empirical study of the initial adoption of ISO 14001 in Japanese manufacturing firms. Ecological Economics 2009, 68:669-679.
51. Oktem U., Lewis P., Donovan D., Hagan J.R., Pace T. MS and sustainable development: a model and comparative studies of integration. Greener Management International 2004, 46:11-28.
52. Orlitzky M., Schmidt F., Rynes S. Corporate social and financial performance: a meta-analysis. Organization Studies 2003, 24(3):403-441.
53. Pava M.L., Krausz J. The association between corporate social responsibility and financial performance: the paradox of social cost. Journal of Business Ethics 1996, 15:321-357.
54. Porter M.E., van der Linde C. Green and competitive-ending the stalemate. Harvard Business Review 1995, 120-134. Sept.-Oct.
55. Qi G.Y., Shen L.Y., Zeng S.X., Ochoa J.J. The drivers for contractors' green innovation: an industry perspective. Journal of Cleaner Production 2010, 18:1358-1365.
56. Rahimi M. Merging strategic safety, health and environment into total quality management. International Journal of Industrial Ergonomics 1995, 16(2):83-94.
57. Scherer F. Industrial Market Structure and Economic Performance 1980, University of Chicago Press, Chicago.
58. Sharma S. Different strokes: regulatory styles and environmental strategy in the North-American oil and gas industry. Business Strategy and the Environment 2001, 10:344-364.
59. Sharma S., Vredenburg H. Proactive corporate environmental strategy and the development of competitively valuable organizational capabilities. Strategic Management Journal 1998, 19:729-753.
60. Stanwick P.A., Stanwick S.D. The relationship between corporate social performance, and organizational size, financial performance, and environmental performance: an empirical examination. Journal of Business Ethics 1998, 17:195-204.
61. Steiger J. Structural model evaluation and modification: an interval estimation approach. Multivariate Behavioral Research 1990, 25:173-180.
62. Sutton J. Gibrat's legacy. Journal of Economic Literature 1997, 35(1):40-59.
63. Ullman J.B. Structural equation modeling. Using Multivariate Statistics 2001, 653-771. Allyn & Bacon, Needham Heights. B.G. Tabachnick, L.S. Fidell (Eds.).
64. Waddock S., Graves S.B. The corporate social performance-financial performance link. Strategic Management Journal 1997, 18:303-319.
65. Wagner M. Integration of environmental management with other managerial functions of the firm: empirical effects on drivers of economic performance. Long Range Planning 2007, 40(5):611-628.
66. Wagner M. The role of corporate sustainability performance for economic performance: a firm-level analysis of moderation effects. Ecological Economics 2010, 69:1553-1560.
67. Wätzold F., Bültmann A., Eames M., Lulofs K.R., Schucht S. EMAS and regulatory relief in europe: lessons from national experience. European Environment 2001, 11:37-48.
68. WEF, YCELP, CIESIN Environmental Sustainability Index accessed 20 July 2001 at. http://www.ciesin.columbia.edu/indicators/ESI.
69. Welford R., Gouldson A. Environmental Management & Business Strategy 1993, Pitman, London.
70. Williams L.J., Vandenberg R.J., Edwards J.R. Structural equation modeling in management research: a guide for improved analysis. Academy of Management Annals 2009, 3(1):543-604.
71. Wood D.J. Social issues in management: theory and research in corporate social performance. Journal of Management 1991, 17(2):383-406.