Corporate Governance and Environmental Performance: Is There Really a Link?

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Corporate governance scholars are increasingly interested in firms' social and environmental performance. Empirical research in this area, however, has moved forward in an uncoordinated fashion, producing fragmented and contradictory results. Our paper seeks to address this situation by adopting a fact-based research approach that comprehensively explores the link between corporate governance and environmental performance. Specifically, we aim to understand how the relationships between and among the firms' owners, managers, and boards of directors influence environmental performance. We are particularly interested in understanding the interactions among these three key sets of actors. In the end, we offer some observations about governance practices and discuss the implications for theory.

corporate governance
environmental performance
fact-based research
KLD database
multilevel analysis
Publication Type: 
Journal Article
Strategic Management Journal
Date Published: 
August 2012
Persistent URL: 
DOI: 10.1002/smj.1952
Full Citation: 
Walls, J.L., P.H. Phan and P. Berrone. (2012) “Corporate governance and environmental performance: is there really a link?” Strategic Management Journal. 33(8): 885-913.
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