ABSTRACT

Given ever-increasing engagement of firms in corporate environmentalism over the past few decades, a multitude of studies investigated the antecedents and consequences of corporate environmentalism. Extant studies exploring the consequences of corporate environmentalism predominantly measured its effects on firm performance. However, to the best of our knowledge, no study thus far has explored whether or not the key pro-environmental initiatives pertaining to corporate environmentalism carried out by industrial firms have any effect on market-based assets, namely, brand value. This study endeavored to address this gap in the literature. Drawing on natural resource-based view of the firm (NRBV), this study argued that industrial firms committed to corporate environmentalism reap rewards in the form of higher brand value. This study investigated three salient areas of corporate environmentalism, namely, environmental innovation, efficiency in using natural resources and emission reduction. The findings of this research demonstrate that industrial firms that outperform in environmental innovation, use fewer natural resources, and reduce emission have a higher brand value. Interestingly, while environmental innovation and efficiency in using natural resources contribute fairly equally to brand value, ability to reduce emissions contributes the least to brand value creation.

摘要

鉴于过去几十年来公司越来越多地参与企业环保主义，大量研究调查了企业环保主义的前因和后果。探索企业环保主义后果的现有研究主要衡量其对公司绩效的影响。然而，据我们所知，迄今为止，还没有任何研究探讨工业企业开展的与企业环保主义有关的关键环保举措是否对市场资产，即品牌价值产生任何影响。本研究致力于解决文献中的这一空白。本研究利用基于自然资源的公司观 (NRBV)，认为致力于企业环保主义的工业公司以更高的品牌价值的形式获得回报。本研究调查了企业环保主义的三个突出领域，即环境创新、自然资源利用效率和减排。这项研究的结果表明，在环境创新方面表现出色、使用较少自然资源和减少排放的工业企业具有更高的品牌价值。有趣的是，虽然环境创新和利用自然资源的效率对品牌价值的贡献相当，但减少排放的能力对品牌价值创造的贡献最小。和减少排放具有更高的品牌价值。有趣的是，虽然环境创新和利用自然资源的效率对品牌价值的贡献相当，但减少排放的能力对品牌价值创造的贡献最小。和减少排放具有更高的品牌价值。有趣的是，虽然环境创新和利用自然资源的效率对品牌价值的贡献相当，但减少排放的能力对品牌价值创造的贡献最小。