This paper aims to examine whether the perceived pressures from stakeholders with high potential to cooperate and/or threaten the firm’s survival affect the decision to adopt carbon management strategies (CMSs).,A logistic panel regression model is estimated using longitudinal data from Australia’s Top-200 listed firms over seven years from 2009 to 2015. The authors test the firm’s propensity to adopt CMSs conditioned on the influence of four groups of stakeholders: the regulators, institutional investors, media and creditors. Data on CMSs adopted by firms are sourced from Thomson Reuters ASSET4 database, the Carbon Disclosure Project survey, annual reports, company websites and sustainability reports.,The authors show that stakeholder pressures are associated not only with the adoption or non-adoption of CMSs but also with the type of CMSs adopted. Three types of CMSs are identified, namely, compensation, reduction and innovation strategies. The findings reveal that CMS adoption and the firms’ propensity to adopt compensation and reduction strategies are significantly related to perceived pressures from the regulators, media and creditors. While pressure from the regulators is also associated with the firms’ propensity to adopt innovation strategies, a more advanced type of CMSs, the potential pressure from the media and creditors are not significantly related.,The findings imply that a firm’s adoption of CMSs is not merely about managing stakeholders in the regulatory sphere but also about taking into account the perceived pressures from non-regulatory stakeholders and the context-dependent nature of their influences. The authors show that by influencing the voluntary disclosure of carbon emissions, the government continues to be effective in encouraging firms to take action on climate change despite the abolition of the carbon tax in Australia.,This study highlights that, apart from a heavy-handed approach, regulators can adopt softer forms of regulation such as the National Greenhouse and Energy Reporting (NGER) Act and a less invasive, stakeholder-driven approach to encourage firms to adopt CMSs and thereby work towards climate change mitigation.,This study extends the literature by showing that perceived pressure from some stakeholders found to be influential in relation to some corporate decisions (such as environmental strategy adoption and climate-change-related disclosure) may not necessarily be influential in relation to CMS adoption.

中文翻译：

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利益相关者压力对采用碳管理策略的影响

本文旨在检验来自具有合作潜力和/或威胁公司生存的高潜力利益相关者的感知压力是否会影响采用碳管理策略 (CMSs) 的决定。 2009 年至 2015 年 7 年间的 200 家上市公司。作者测试了公司采用 CMS 的倾向，条件是四类利益相关者的影响：监管者、机构投资者、媒体和债权人。企业采用的 CMS 数据来自汤森路透 ASSET4 数据库、碳披露项目调查、年度报告、公司网站和可持续发展报告。作者表明，利益相关者的压力不仅与采用或不采用 CMS 相关，而且与采用的 CMS 类型有关。确定了三种类型的 CMS，即补偿、减少和创新策略。调查结果显示，CMS 的采用和公司采用补偿和减少策略的倾向与监管机构、媒体和债权人的感知压力显着相关。虽然来自监管机构的压力也与公司采用创新战略的倾向有关，这是一种更先进的 CMS，但来自媒体和债权人的潜在压力没有显着相关。调查结果表明，公司采用 CMS 不仅是为了管理监管领域的利益相关者，而且还考虑到来自非监管利益相关者的感知压力及其影响的上下文相关性质。作者表明，尽管澳大利亚取消了碳税，但通过影响碳排放的自愿披露，政府继续有效地鼓励企业对气候变化采取行动。,这项研究强调，除了采取强硬手段外方法，监管者可以采用更软的监管形式，如国家温室和能源报告 (NGER) 法案，以及一种侵入性较小、利益相关者驱动的方法，以鼓励公司采用 CMS，从而努力减缓气候变化。