The relationship between culture, sustainable use of resources, and financial performance : an institutional and natural-resource-based perspective

Engelke, Deon H. (avtor), Pearse, Noel J. (avtor), Correa, Fabio M. (avtor), Skae, Frederick O. (avtor)

Modelling a dataset of 5230 globally listed firms through two statistical approaches reflecting the primary principles of Natural-Resource-Based Theory and Institutional Theory, respectively, this study provides evidence that sustainability initiatives developed by firms are being rewarded in the form of improved Corporate Financial Performance (CFP). Culture has a significant influence on both firm sustainability performance, captured in ESG ratings, and CFP and also interacts with other variables, including industry sector and socio-economic development of a firm’s markets. This study is unique in hypothesising and statistically proving that sustainability is a mechanism that activates the potential of culture to produce CFP. Natural-Resource-Based Theory (NRBT) and Institutional Theory (DiMaggio & Powell, 1983) provide complementary explanations for the relationship between the culture of a firm and its CFP being mediated by sustainability, effectively determining firms’ approach to the use of their resources in a sustainable or unsustainable way. Certain relationships between culture, sustainability performance, and CFP, however, are better explained by Institutional Theory than NRBT.

• Jezik: Angleški jezik
• Ključne besede: national culture, sustainability, ESG, resource-Based theory, natural-Resource-Based theory, institutional theory
• Vrsta gradiva: Članek v reviji
• Tipologija: 1.01 - Izvirni znanstveni članek
• Organizacija: EF - Ekonomska fakulteta
• Status publikacije: Objavljeno
• Različica publikacije: Objavljena publikacija
• Leto izida: 2024
• Št. strani: Str. 61-80
• Številčenje: Vol. 26, iss. 2, article no. 1
• PID: 20.500.12556/RUL-164750
• UDK: 502.131.1
• ISSN pri članku: 2335-4216
• DOI: 10.15458/2335-4216.1335
• COBISS.SI-ID: 200327939
• Datum objave v RUL: 08.11.2024

Gradivo je del revije

• Naslov: Economic and business review
• Založnik: Ekonomska fakulteta
• ISSN: 2335-4216
• COBISS.SI-ID: 268649216

Licence

• Licenca: CC BY-NC-ND 4.0, Creative Commons Priznanje avtorstva-Nekomercialno-Brez predelav 4.0 Mednarodna
• Povezava: http://creativecommons.org/licenses/by-nc-nd/4.0/deed.sl
• Opis: Najbolj omejujoča licenca Creative Commons. Uporabniki lahko prenesejo in delijo delo v nekomercialne namene in ga ne smejo uporabiti za nobene druge namene.

Sekundarni jezik

• Jezik: Slovenski jezik
• Ključne besede: podjetje, finance, trajnostni razvoj