The cross‐cutting pursuit of family values: When and how do family firms engage in corporate environmental responsibility

Author:

Kim Sang‐Joon1ORCID,Bae Jongwan2ORCID,Kang SoHyeon1

Affiliation:

1. Ewha School of Business Ewha Womans University Seoul Korea

2. College of Economics and Business Administration Kyungpook National University Daegu Korea

Abstract

AbstractThis study examines how family values in a firm can impact non‐market strategies. Given that family members on the board tend to pursue non‐economic, especially family related, values, we attempt to specify how the perspectives, values, and tastes of family members serving on the board can be infused into the firm's environmental performance. Since actions addressing environmental issues are less directly related to family values than other types of CSR actions, such as donations and services to the local community, the family‐value‐infused characteristics of boards that represent family firms' pursuit of socio‐emotional wealth, can make firms less committed to environmental issues. Using our comprehensive sample of large U.S. firms consisting of 15,086 firm‐year observations between 1998 and 2016, we find that when family values are treated as a critical factor for non‐market strategies, family dominated firms are less likely to pursue corporate environmental responsibility. We also find that both external and internal factors can positively moderate the family firm's environmental underperformance by diluting the family values.

Publisher

Wiley

Cited by 1 articles. 订阅此论文施引文献 订阅此论文施引文献,注册后可以免费订阅5篇论文的施引文献,订阅后可以查看论文全部施引文献

1. CSR and ownership structure: Moderating role of board characteristics in an emerging country context;Corporate Social Responsibility and Environmental Management;2024-05-12

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