As the need for business to address pressing social and ecological issues intensifies, so does the importance of enhancing the development of sustainable marketing. The current dominant approach to sustainable marketing is based on a Triple Bottom Line (TBL) profit‐centric worldview, which suggests that firms can simultaneously improve their financial well‐being as they reduce negative social and ecological externalities. However, whereas the scope of TBL marketing is limited to sustainability initiatives that enhance profits, there is (...) a growing need for—and interest in—developing a sustain‐centric approach to marketing that relaxes the need to maximize financial well‐being in order to optimize social and ecological well‐being. Even so, because of the dominance of the profit‐centric worldview, hallmarks of sustain‐centric marketing practices remain under‐developed and may even lend themselves to becoming inauthentically mimicked on a piecemeal basis by greenwashing profit‐centric firms. We provide an exploratory empirical study of marketing practices evident in two sustain‐centric firms and draw implications to advance theory for both sustain‐centric and profit‐centric marketing. (shrink)

Corporate sustainability is an important strategy and value orientation for marketing, but scarce research addresses the organizational drivers and barriers to including it in companies’ marketing strategies and processes. The purpose of this study is to determine levels of commitment to corporate sustainability in marketing, processes associated with sustainability marketing commitment, drivers of sustainability marketing at the functional level of marketing, and its organizational context. Using survey data from 269 managers in marketing, covering (...) a broad range of industries in Sweden and Denmark, we took a structural modelling approach to examine construct relationships, mediation, and moderation effects. Overall, the findings show that marketing capabilities associated with the innovation of new products, services, and business models constitute a strong driver to leverage sustainability marketing commitment. In conjunction with insights into processes related to the enactment of sustainability marketing, this result indicates that companies’ marketing departments have a propensity to drive corporate sustainability. The study provides substance to the idea of aligning substantive marketing capabilities closer to dynamic capabilities. Accordingly, the study reveals that reliance on market orientation alone does not lead to greater sustainability commitment. (shrink)

This article explores the role of financial markets for sustainable development. More specifically, the authors ask to what extent financial markets foster and facilitate more sustainable business practices. The authors highlight that their current role is rather modest and conclude that, on the old paths, a paradoxical situation exists. On one hand, financial market participants increasingly integrate environmental, social, and governance criteria into their investment decisions, whereas on the other hand, in terms of organizational reality, there seems to (...) be no real shift toward more sustainable business practices. The authors identify two main challenges within the field of sustainable investments that are relevant for entering new avenues that may help overcome this situation. First, a reorientation toward a long-term paradigm for sustainable investments is important. Second, ESG data must become more trustworthy. From a theoretical point of view, the authors finally highlight the potential market consequences when ESG investment criteria are used. (shrink)

Business Ethics, the Environment & Responsibility, EarlyView.

Research explored methods for “shortening the food links” or developing the “local foodshed” by connecting farmers with food service buyers (for restaurants and institutions) in Colorado. Telephone interviews were used to investigate marketing and purchasing practices. Findings include that price is not a significant factor in purchasing decisions; that food buyers prioritize quality as their top purchasing criterion but are not aware that local farmers can provide higher quality, that institutions are interested in buying locally; that small farms can (...) offer comparable or higher quality produce andservice; and that farmers need to show buyers what the quality of produce and service they can provide. (shrink)

This article investigates whether investors consider the reliability of companies’ sustainability information when determining the companies’ market value. Specifically, we examine market reactions (in terms of abnormal returns) to events that increase the reliability of companies’ sustainability information but do not provide markets with additional sustainability information. Controlling for competing effects, we regard companies’ additions to an internationally important sustainability index as such events and consider possible determinants for market reactions. Our results suggest that first, investors take into account the (...) reliability of sustainability information when determining the market value of a company and second, the benefits of increased reliability of sustainability information vary cross-sectionally. More specifically, companies that carry higher risks for investors (e.g., higher systematic investment risk, higher financial leverage, and higher levels of opportunistic management behavior) react more strongly to an increase in the reliability of sustainability information. Finally, we show that the benefits of an increase in the reliability of sustainability information are higher in times of economic uncertainty (e.g., during economic downturns and generally high stock price volatilities). (shrink)

Coinciding with the rising development of emerging markets, sustainable consumption practices in these markets are increasingly under scrutiny. In this context, we compare empirical results from consumers in four countries (three emerging markets and one developed market) in an experimental study to uncover patterns of preferences for sustainable luxury products (i.e., products that combine sustainability and luxury characteristics). Our findings illustrate that consumers’ quality, emotional, price, and social value perceptions, as well as purchase and electronic word-of-mouth intentions, are (...) consistently higher in all three emerging markets compared to the developed market. We find that sustainability (vs. conventional) product features increase consumers’ product value perceptions and behavioral intentions, although this effect is partially stronger for the developed compared to the emerging market(s). We further show a positive sustainability effect for luxury products, this effect is stronger for mass-market products. Combining sustainability and luxury signals leads to similar effects in emerging and developed markets. Thus, emerging markets have promise in terms of scope for incorporating sustainability characteristics into luxury products. Sustainable luxury consumption can therefore be understood as a manifestation of global consumer culture. (shrink)

Sustainable investment, which integrates social, environmental and ethical issues, has grown from a niche market of individual ethical investors to embrace institutional investors resulting in £764 billion in assets under management in the UK alone [Eurosif, 2008: ‘European SRI Study 2008’ ]. Explaining this growth is complex, involving shifts in personal and collective values, reactions to corporate scandals, scientific and media pronouncements about climate change, Government initiatives, responses from financial markets and the influence of SI innovators in The City (...) of London. The article examines the influence of human agency through interviews with 14 SI champions who have variously been responsible for launching SI funds and changing investment processes and organisational structures in order to enhance SI. Interviewees were asked about their motivations and persuasive strategies, the obstacles they faced and how they overcame them as well as broader implications of SI for financial markets. The following key categories inform the results and the discussion: Values; Conservatism, Antipathy and Incredulity; Optimism and Sympathy from Insiders; The Social and Political Context; The Business Case; Organisational Constraints; Inappropriate forms of Remuneration; Short-termism; The Nature of Capitalism. Three discourses were also identified. The first is the necessity to make a business case for SI; the second is the benefits that SI can bring to the quest of overcoming short-termism; the third is a belief that for SI to have a significant influence, greater government intervention is required. (shrink)

Business Ethics, the Environment &Responsibility, EarlyView.

There are two competing approaches to sustainability in agriculture. One stresses a strict economic approach in which market forces should guide the activities of agricultural producers. The other advocates the need to balance economic with environmental and social objectives, even to the point of reducing profitability. The writings of the eighteenth century moral philosopher Adam Smith could bridge the debate. Smith certainly promoted profit-seeking, private property, and free market exchange consistent with the strict economic perspective. However, his writings are also (...) consistent with many aspects of sustainable agriculture. For example, Smith argued that people ought to exercise restraint in their pursuit of self-interest, and he believed in balancing economic with environmental and social considerations. If both sides of the debate more fully regard the work of Adam Smith, then proponents of the strict economic perspective might be more appreciative of the concerns raised within the sustainable agriculture community, while advocates of sustainability might be more effective in achieving the objective of a sustainable agriculture. (shrink)

This conceptual article examines the relationship between marketing and sustainability through the dual lenses of anthropocentric and ecocentric epistemology. Using the current anthropocentric epistemology and its associated dominant social paradigm, corporate ecological sustainability in commercial practice and business school research and teaching is difficult to achieve. However, adopting an ecocentric epistemology enables the development of an alternative business and marketing approach that places equal importance on nature, the planet, and ecological sustainability as the source of human and other (...) species’ well-being, as well as the source of all products and services. This article examines ecocentric, transformational business, and marketing strategies epistemologically, conceptually and practically and thereby proposes six ecocentric, transformational, strategic marketing universal premises as part of a vision of and solution to current global un-sustainability. Finally, this article outlines several opportunities for management practice and further research. (shrink)

Sustainable investment (SI), which integrates social, environmental and ethical issues, has grown from a niche market of individual ethical investors to embrace institutional investors (e.g. pension funds) resulting in £764 billion in assets under management in the UK alone [Eurosif, 2008 : ‘European SRI Study 2008’ (Eurosif, Paris)]. Explaining this growth is complex, involving shifts in personal and collective values, reactions to corporate scandals, scientific and media pronouncements about climate change, Government initiatives, responses from financial markets and the influence (...) of SI innovators in The City of London. The article examines the influence of human agency through interviews with 14 SI champions who have variously been responsible for launching SI funds and changing investment processes and organisational structures in order to enhance SI. Interviewees were asked about their motivations and persuasive strategies, the obstacles they faced and how they overcame them as well as broader implications of SI for financial markets. The following key categories inform the results and the discussion: Values; Conservatism, Antipathy and Incredulity; Optimism and Sympathy from Insiders; The Social and Political Context; The Business Case; Organisational Constraints; Inappropriate forms of Remuneration; Short-termism; The Nature of Capitalism. Three discourses were also identified. The first is the necessity to make a business case for SI; the second is the benefits that SI can bring to the quest of overcoming short-termism; the third is a belief that for SI to have a significant influence, greater government intervention is required. (shrink)

While tourism is often seen as a welcome source of economic development, conventional mass tourism is associated with numerous negative effects, such as the destruction of ecological systems and loss of cultural heritage. In response to these concerns, a term that has surfaced recently is, sustainable tourism. This article attempts to define sustainable tourism and asks the question of whether this new term is an acceptable criteria or is merely a marketing ploy to attract the morally conscious (...) tourist. (shrink)

Although the impact of market reforms in Swedish health care stands out as not very far-reaching in an international comparison, it represents a route away from the features and basic values normally associated with the Swedish or Scandinavian model. Summarizing the development over the last decades, we may identify signs of sustainability as well as change. Popular support for public provision and a robust institutional structure make far-reaching alterations of existing structures less feasible, although most visible changes this far—incremental though (...) they may be—represent a change in which the normative foundations of the Swedish model are challenged. (shrink)

Applying value relevance analysis to a sample of European banks, we test the following: (i) the direct effects of the sustainability report on stock price; (ii) whether the report modifies the value relevance of financial accounting variables (indirect effects); and (iii) whether the value relevance of sustainability reports varies across countries. Results show that investors appreciate the additional and complementary disclosure provided by the sustainability report and that this disclosure produces a positive effect on stock prices. Estimates of the indirect (...) effects demonstrate that it has a negative influence on book value per share, whereas the effect on earnings per share is not significant. Cross-country analysis shows that the value relevance of the sustainability report varies across European countries, consistent with the hypothesis that the value relevance of the sustainability report is likely to be influenced by different institutional contexts. (shrink)

As the functional capabilities of high-tech medical products converge, supplying organizations seek new opportunities to differentiate their offerings. Embracing product sustainability-related differentiators provides just such an opportunity. This study examines the challenge organizations face when attempting to understand how customers perceive environmental and social dimensions of sustainability by exploring and defining both dimensions on the basis of a review of extant literature and focus group research with a leading supplier of magnetic resonance imaging (MRI) scanning equipment. The study encompasses seven (...) hospitals and one private imaging center in the Netherlands and identifies five social aspects that cover 11 indicators. The authors conduct 22 customer perception interviews with key decision-making stakeholders involved in purchasing MRI scanning equipment. Respondents find environmental and social sustainability dimensions personally relevant but professionally secondary to cost, performance, and ability to use the equipment in their organizations' physical infrastructure. Finally, incorporating a product's environmental and social credentials within the marketing of MRI scanning equipment enhances the perception of the product offering in decisionmaking stakeholders' minds and provides a means of differentiation. (shrink)

Drawing from research on strategic choice, this study investigates the relationship between market turbulence and firms’ sustainable behavior, in the context of sustainability-related institutional adversity. It argues that the relationship between market turbulence and sustainability is mediated by network embeddedness, and this mediating role in turn is moderated by a firm’s innovative orientation. Data collected from a sample of Ontario restaurants inform predictions about firms’ propensity to adopt local wines in their portfolios, despite the limited market and normative support (...) that these wines receive compared with imported wines. The study shows that market turbulence enhances sustainable firm behavior, through the development of strong network relationships. Furthermore, the mediating effect of network embeddedness is particularly salient among firms that exhibit a stronger innovative orientation. These findings reveal how and when turbulent market conditions can contribute to a firm’s sustainable behaviors in the presence of limited institutional support for such behaviors. (shrink)

There are two competing approaches to sustainability in agriculture. One stresses a strict economic approach in which market forces should guide the activities of agricultural producers. The other advocates the need to balance economic with environmental and social objectives, even to the point of reducing profitability. The writings of the eighteenth century moral philosopher Adam Smith could bridge the debate. Smith certainly promoted profit-seeking, private property, and free market exchange consistent with the strict economic perspective. However, his writings are also (...) consistent with many aspects of sustainable agriculture. For example, Smith argued that people ought to exercise restraint in their pursuit of self-interest, and he believed in balancing economic with environmental and social considerations. If both sides of the debate more fully regard the work of Adam Smith, then proponents of the strict economic perspective might be more appreciative of the concerns raised within the sustainable agriculture community, while advocates of sustainability might be more effective in achieving the objective of a sustainable agriculture. (shrink)

Drawing from research on strategic choice, this study investigates the relationship between market turbulence and firms’ sustainable behavior, in the context of sustainability-related institutional adversity. It argues that the relationship between market turbulence and sustainability is mediated by network embeddedness, and this mediating role in turn is moderated by a firm’s innovative orientation. Data collected from a sample of Ontario restaurants inform predictions about firms’ propensity to adopt local wines in their portfolios, despite the limited market and normative support (...) that these wines receive compared with imported wines. The study shows that market turbulence enhances sustainable firm behavior, through the development of strong network relationships. Furthermore, the mediating effect of network embeddedness is particularly salient among firms that exhibit a stronger innovative orientation. These findings reveal how and when turbulent market conditions can contribute to a firm’s sustainable behaviors in the presence of limited institutional support for such behaviors. (shrink)

This study provides empirical evidence on how corporate sustainability performance (CSP), as proxied by membership of the Dow Jones sustainability index, is reflected in the market value of equity. Using a theoretical framework combining institutional perspectives, stake-holder theory, and resource-based perspectives, we develop a set of hypotheses that relate the market value of equity to CSP. For a sample of North American firms, our preliminary results show that CSP has significant explanatory power for stock prices over the traditional summary accounting (...) measures such as earnings and book value of equity. However, further analyses suggest that we should not focus on corporate sustainability itself. Our findings suggest that what investors really do is to penalize large profitable firms with low level of CSP. Firms with incentives to develop a high level of CSP not engaging on such strategy are, thus, penalized by the market. (shrink)

Using a unique dataset provided by the international rating agency GES®, we investigate the effects of corporate sustainability and industry-related exposure to environmental and social risks on the market value of MSCI World firms. The results show a negative relationship in the earlier years of our sample period. However, the analysis reveals that the capital market perception of sustainability has changed owing to the financial crisis. Looking at the height of the crisis in September 2008, the month in which Lehman (...) Brothers shocked the world’s capital markets by filing for Chapter 11 bankruptcy protection, we find that the previously negative perception of corporate sustainability across its various dimensions was positively affected and offset. In addition, as a moderated regression analysis shows, the crisis led to a positive perception of corporate sustainability in industries that are exposed to higher environmental and social risks. Our study has the practical implication that executives, in particular in industries with high environmental and social risks, should increase their commitment to corporate sustainability due to the changes in the institutional setting triggered by the financial crisis. (shrink)

This study explores the status quo regarding the interface between marketing, social and environmental issues, culture and consumers, and strategic management by integrating sustainability. A qualitative display network technique, based on the bibliometric methodology of co-citation analysis, was applied to examine research clusters. An integrative review was conducted to explain the connections within these clusters. To evaluate potential patterns among the studies through citations, different sets of relationships among applicable sustainability theories in marketing practice were paired in different (...) sets and analyzed. After mapping the scientific structure of journal publications and intellectual linkages, six cluster groups emerged, reflecting the important role of marketing in linking sustainability, society, environment, consumers, and corporate sustainable development. This study contributes to social and marketing research and corporate sustainability practice by categorizing the intellectual structural network within various streams and indicating the influence of social and cultural notions on consumer-focused sustainable marketing. (shrink)

This study examines two stock market anomalies and provides strong evidence of the day-of-the-week effect in the Chinese A-share market during the COVID-19 pandemic. Specifically, we examined the Quality minus Junk strategy return on Monday and FridayQuality stocks mean portfolio deciles that earn higher excess returns. As historical evidences suggest that less distressed/safe stocks earn higher excess returns.. The QMJ factor is similar to the division of speculative and non-speculative stocks described by Birru. Our findings provide evidence that the QMJ (...) strategy gains negative returns on Fridays for both anomalies because the junk side is sensitive to an elevated mood and, thus, performs better than the quality side of portfolios on Friday. Our findings are also consistent with the theory of investor sentiment which asserts that investors are more optimistic when their mood is elevated, and generally individual mood is better on Friday than on other days of the week. Therefore, the speculative stocks earned higher sustainable stock returns during higher volatility in Chinese market due to COVID-19. Intrinsically, new evidence emerges on an inclined strategy to invest in speculative stocks on Fridays during the COVID-19 pandemic to gain sustainable excess returns in the Chinese A-share market. (shrink)

Advocates of environmental sustainability and social justice increasingly pursue their goals through the promotion of so-called “green” products such as locally grown organic produce. While many scholars support this strategy, others criticize it harshly, arguing that environmental degradation and social injustice are inherent results of capitalism and that positive social change must be achieved through collective action. This study draws upon 18 months of ethnographic fieldwork at two farmers markets located in demographically different parts of the San Francisco Bay Area (...) to examine how market managers, vendors, and regular customers negotiate tensions between their economic strategies and environmental sustainability and social justice goals. Managers, vendors, and customers emphasize the ethical rather than financial motivations of their markets through comparisons to capitalist, industrial agriculture and through attention to perceived economic sacrifices made by market vendors. They also portray economic strategies as a pragmatic choice, pointing to failed efforts to achieve justice and sustainability through policy change as well as difficulties funding and sustaining non-profit organizations. While market managers, vendors, and customers deny any difficulties pursuing justice and sustainability through local economics, the need for vendors to sustain their livelihoods does sometimes interfere with their social justice goals. This has consequences for the function of each market. (shrink)

The Anglican Church of Kenya (ACK) is the oldest church in Kenya and the largest protestant denomination in the country. Since religions were liberalized after the attainment of political independence in AD 1964, the church has experienced declining congregations due to the registration of new denominations, especially the Pentecostal ones. The decline has been noticeable from the beginning of the 21st Century but there are no reports of strategies to resolve the phenomenon. Since congregation members are the customers for a (...) church, the declining phenomenon indicates a marketing problem that requires a marketing strategy. This research investigated how the ACK is operationalizing a marketing strategy and its influence on its sustainability. The ACK operates on standardized structures and a diocese is the highest independent unit. This research was conducted in the diocese of Kirinyaga as the unit of analysis with Wanguru Archdeaconry as the unit of observation. The independent variables were the elements of the marketing mix, namely Product, Promotion, Position and Price strategies while the dependent variable was the church sustainability. Data collection involved 308 participants drawn from the 19 parishes in the Wanguru archdeaconry and included the church leadership and the congregation members. The research instruments were a semi-structured questionnaire and interviews. For the Product variable, the research applied the Maslow Hierarchy of needs theory while for the promotion variable, it was the AIDA Model (Attention, Interest, Desire and Action). For the positioning strategy, the Segmentation, Targeting and Positioning (STP) Model was applied while the Value-Based Pricing theory was used for the price strategy. For church sustainability, the research applied the Triple Bottom Line model. Data analysis was conducted using Structural Package for Social Sciences (SPSS). The results indicated that the ACK has not operationalized an effective marketing strategy for while the Gospel as the marketing product of the church was highly rated, there were low scores for Promotion, Position and Price strategies. (shrink)

In recent years, researchers have observed the process of mainstreaming Fair Trade and the emergence of alternative sustainability standards in the coffee industry. The underlying market dynamics that have contributed to these developments are, however, under-researched. Insight into these dynamics is important to understand how markets can develop to favor sustainability. This study examines the major developments in the market for certified coffee in the Netherlands. It finds that, in the creation of a market for sustainable coffee, decisions that (...) significantly influence market creation are made in the lead companies (retailers and coffee roasters). These decisions are made possible by the availability of multiple systems of sustainability standards and by the existence of a small segment of loyal Fair Trade customers that ensured that sustainability remained an issue on the coffee market in the years before the market creation took-off. Fair Trade did not become the new rule in this process, but it became the benchmark against which companies could compare themselves and the basis upon which they built in adopting or developing new standards that would be more feasible in their business models. (shrink)

The role of sustainable development in the export intensity of small and medium-size enterprises represents an open research question. We consider sustainable development through the environmental, social, and governance dimensions as well as via firms’ innovative activity indicators. Our objective is to reveal the sustainability determinants of export intensity of SMEs in emerging markets subject to financial constraints, which is one of the major obstacles for SMEs. Our sample is based on the 2018–2020 Business Environment Enterprise Performance Survey (...) data. The Heckman model allows us to reveal the factors relevant for SMEs to gain access to foreign markets under the control of financial constraints specific for SMEs. We also analyze the determinants of the SMEs’ share of direct exports in revenue. Our results demonstrate that innovative activity and corporate social responsibility facilitate entry to foreign markets, while equity concentration is a major deterrent. In particular, we reveal a significant positive effect of research and development investment on export intensity. Our findings highlight the complex nature of the interrelations between the SMEs’ share of direct exports in revenue and ESG consciousness. We find that other significant factors are political links of the top management, the gender composition of production and administrative units, employee training facilities, and ownership structure. (shrink)

Increasing international uncertainty - including factors such as ongoing financial crises, climate change and energy scarcity - raises questions about which policy strategies can best solve environmental problems and promote community development. This article describes the functioning of the farmers' market in the Czech city of Brno and analyses how it may contribute to local sustainable development. Theoretically, the article engages the debate over the meaning of sustainability and appropriate policies to achieve sustainability goals. Field observations, interviews, content analysis (...) of government documents, and a survey of vendors reveal how the market functions, indicate the meaning of the market for customers and vendors alike, shed light on the future use of the space and provide data for comparison of market activities with official sustainability policy. The article concludes that a novel approach toward sustainable development is to work with existing traditions like farmers' markets rather than focus efforts exclusively on top-down initiatives and high-tech solutions. While such markets are not automatically ecologically friendly, and farmers' markets alone cannot produce a sustainable society, this research demonstrates the potential of such emergent, bottom-up activities to help transform society-nature relations while improving urban quality of life. (shrink)

In this article, we studied the Corporate Sustainability Index (ISE) of the Brazilian Mercantile, Futures and Stock Exchange (BM&FBOVESPA), with the main objective of analyzing the performance of sustainable investments in the Brazilian stock market, during the period from December 2005 to December 2010. To achieve this aim, we characterized ISE portfolios and we compared its performance with the IBOVESPA (representing the market portfolio) and other BM&FBOVESPA sectoral indices. In the performance comparison, we used level of liquidity, return and (...) risk indicators, as well as the following measures: Sharpe, Treynor, Sortino, and Omega. Our results show that although sustainable investments have presented some interesting characteristics, such as increasing liquidity and low diversifiable risk, they did not achieve satisfactory financial performance in the analysis period. This indicates that the constraints imposed by this type of investment in capital allocation in Brazil may be harming their return and risk attractiveness. (shrink)

Based on the reconstruction of the development of 14 food supply chain initiatives in 7 European countries, we developed a conceptual framework that demonstrates that the process of increasing the sustainability of food supply chains is rooted in strategic choices regarding governance , embedding, and marketing and in the coordination of these three dimensions that are inextricably interrelated. The framework also shows that when seeking to further develop an initiative (e.g., through scaling up or product diversification) these interrelations need (...) continuous rebalancing. We argue that the framework can serve different purposes: it can be used as an analytical tool by researchers studying food supply chain dynamics, as a policy tool by policymakers that want to support the development of sustainable food supply chains, and as a reflexive tool by practitioners and their advisors to help them to position themselves, develop a clear strategy, find the right allies, develop their skills, and build the capacities that they need. In this paper, we elaborate upon the latter function of the framework and illustrate this briefly with empirical evidence from three of the initiatives that we studied. (shrink)

While “green marketing” has emerged as powerful competitive force, many markets lack clear institutional standards or knowledgeable customers to allow firms committed to sustainable practices to differentiate themselves from opportunistic, green-washing competitors. Within these contexts we propose a firm-level lens based on authentic firm reputation as an important, yet poorly understood, competitive force. Drawing on interview data from the architectural design services context we identify the elements that firms use to communicate their own authenticity, as well as discourage (...) green-washing behavior of peers, and present these elements as the “Diamond” model of authentic green marketing, consisting of: The ability to appear above commercial considerations; The ability to frame production methods as craft; The use of corporate visual identity; and An organization's social network of stakeholders. We conclude by discussing the generalizability and implications of our framework for practitioners as well as opportunities for future research. (shrink)

This paper investigates whether relative corporate sustainability as measured by the SAM sustainability ranking and sustainability reporting in terms of Global Reporting Initiative application levels are associated with a higher market valuation. We conduct a value relevance study for the 600 largest European companies with the Feltham and Ohlson valuation model as a reference point. Our results indicate that for the observation period 2001 to 2011, the association between corporate sustainability and market value is positive. The empirical evidence of a (...) positive relationship between GRI reporting and market value is statistically significant in some but not all of the model specifications. We find no evidence of interaction between the value relevance of corporate sustainability and sustainability reporting, nor do we find any positive effect of external assurance on the capital market perception of GRI application levels. Our results support the notion that conducting business in accordance with ethical norms is also a shareholder value-increasing business strategy. However, it is not possible to verify the information given in sustainability reports through external assurance. (shrink)

An extensive work has been done on corporate social responsibly practices that mainly emphasized the larger firms within developed nations. Nonetheless, still work is needed to observe the importance of CSRPs’ and ethical cultural practices in terms of sustainable competitive performance that garnered far less attention by the existing literature. This study explores the impact of CSRPs on SACP with the mediating role of ECL from SMEs of two emerging nations, i.e., China and Pakistan based on stakeholders’ theory and (...) practices. The results using SEM affirmed the positive linkages of CSRPs—environment responsibility, community responsibility, customers' responsibility, suppliers responsibility, employee responsibility, and Govt. rules & regulations’ responsibility —on SACP. It found that CSRPs have positive relationships with ECL whereas ECL further positively correlated with SACP in the context of both countries. The findings revealed the positive mediating influence of ECL between CSRPs and SACP, respectively. This study furnishes insightful information for management on how firms may achieve sustainable performance by incorporating ethical cultural practices and corporate social responsibility practices as the strategic tools. The study reports numerous implications for management together with lines for future directions. (shrink)

It is argued that 'sustainable development' has been defined in such a way as to be either morally repugnant or logically redundant. 'Strong' sustainability, overriding all other considerations, is morally unacceptable as well as totally impractical; and 'weak' sustainability, in which compensation is made for resources consumed, offers nothing beyond traditional economic welfare maximisation. The 'sustainability' requirement that human well-being should never be allowed to decline is shown to be irrational. Welfare economics can accommodate distributional considerations, and, suitably defined, (...) the concept of welfare can include the subjective effects of changes in – as well as the levels of – well-being. Hence there is no reason why welfare maximisation should not remain an overriding policy objective. Nor can sustainability be regarded as a 'constraint' on welfare maximisation unless there is a clear conflict between the two – which has yet to be demonstrated. This is not to deny the importance of intergenerational justice, nor the need for economic incentives to correct market imperfections if the environment is to be managed in a socially optimal manner. Apart from a few small developing countries heavily dependent on minerals or other finite primary products, the measurement of some wider concept of 'sustainable' GNP is a waste of time and such estimates as have been made are virtually worthless. (shrink)

Based on a survey of deans and marketing department chairs, this study explores the business and marketing curriculum in the areas of ethics, corporate social responsibility (CSR), and sustainability. The findings indicate that there was limited support for providing students with an understanding of these topics, in believing the concepts provide a competitive advantage in the job market, or would be utilized by students at a later point in their education. Finally, the value placed on research in these (...) areas was considerably less than on theory development or applied and pedagogical research. (shrink)

We present a mathematical bioeconomic model of a fishery with a variable price. The model describes the time evolution of the resource, the fishing effort and the price which is assumed to vary with respect to supply and demand. The supply is the instantaneous catch while the demand function is assumed to be a monotone decreasing function of price. We show that a generic market price equation (MPE) can be derived and has to be solved to calculate non trivial equilibria (...) of the model. This MPE can have 1, 2 or 3 equilibria. We perform the analysis of local and global stability of equilibria. The MPE is extended to two cases: an age-structured fish population and a fishery with storage of the resource. (shrink)

"This comprehensive volume - containing 27 chapters and contributions from six continents - presents and discusses key principles, perspectives, and practices of social learning in the context of sustainability. Social learning is explored from a range of fields challenged by sustainability including: organizational learning, environmental management and corporate social responsibility; multi-stakeholder governance; education, learning and educational psychology; multiple land-use and integrated rural development; and consumerism and critical consumer education. An entire section of the book is devoted to a number of (...) reflective case studies of people, organizations and communities using forms of social learning in moving towards sustainability. 'This book brings together a range of ideas, stories, and discussions about purposeful learning in communities aimed at creating a world that is more sustainable than the one currently in prospect....The book is designed to expand the network of conversations through which our society can confront various perspectives, discover emerging patterns, and apply learning to a variety of emotional and social contexts.' From the Foreword by Fritjof Capra, co-founder of the Center of Ecoliteracy. 'Joining what is so clear and refreshing in this book with the larger movements toward a critically democratic and activist education that is worthy of its name, is but one step in the struggle for sustainability. But it is an essential step if we are to use the insights that are included in this book.' From the Afterword by Michael Apple, author of 'Educating the ""Right"" Way: Markets, Standards, God, and Inequality'.". (shrink)

Just as socially irresponsible organizational behavior leaves a punitive legacy on society, socially responsible organizations can foster curative change. This article examines whether small organizations can foster societal change toward more sustainable modes of living. We contend that consumption is deeply intertwined with social relations and norms, thus making individual behavioral change toward sustainability a matter of facilitating change in individual behavior, as well as in social norms and relations between organizations and consumers. We argue that it is in (...) this facilitation process that small firms can play a major role, by adopting upstream and downstream approaches to diffuse behavioral change. By synthesizing four key strands of literature -small businesses and corporate social responsibility, ethical consumption, community social marketing, and the diffusion of innovation — and using the exemplar case of Modbury, the iconic "plastic bag-free" town, we demonstrate how responsible small firms can influence communities, and the individuals therein, to encourage environmentally sustainable practice to diffuse and support change in society. (shrink)

Despite the growing public awareness of social sustainability issues, little is known about what drives firms to emphasize social criteria in their supplier management practices and what the precise benefits of such efforts are. This is especially true for relationships with international suppliers from the world's emerging economies in Asia, Latin America, and Eastern Europe. Building on stakeholder theory, we address the issue by examining how pressures from customers, the government, and employees as primary constituencies of the firm determine the (...) extent to which firms consider social aspects in the selection of emerging economy suppliers. Further, we analyze how such socially sustainable supplier selection relates to the capabilities of the firm's suppliers, its market reputation, and the learning in its supply management organization. We test the developed research framework empirically using data from 244 U. S. and German corporations. Our findings, consistent with our hypothesized model, suggest that middle-level supply managers as internal stakeholders play a major driving role for firms' socially sustainable supplier selection, and that strong positive links exist between that selection and the investigated outcomes. (shrink)

The contours of sustainable systems are defined according to communities’ goals and values. As researchers shift from sustainability-in-the-abstract to sustainability-as-a-concrete-research-challenge, democratic deliberation is essential for ensuring that communities determine what systems ought to be sustained. Discourse analysis of dialogue with Michigan direct marketing farmers suggests eight sustainability values – economic efficiency, community connectedness, stewardship, justice, ecologism, self-reliance, preservationism and health – which informed the practices of these farmers. Whereas common heuristics of sustainability suggest values can be pursued harmoniously, (...) we discuss how this typology reflects the more intricate project of balancing values in tension with one another. (shrink)

– This paper aims to suggest that ethical issues in information and communications technology (ICT) should be researched from a holistic perspective, including environmental values and other values inherent in ICT. This paper thoroughly discusses the value of speed by drawing on ICT advertisements and theories of speed, primarily Paul Virilio’s work., – The methodology consists of a semiotic analysis of ICT-related advertisements primarily from Sweden. These empirical data are combined with a close reading of Paul Virilio’s work, and the (...) analysis moves abductively between theory and empirical data., – Speed is promoted in ICT-related advertisements and may be analyzed using concepts of dromology, dromocracy, dromoscopy, the dromosphere, instantaneity and grey ecology., – Most of the data are from the Swedish context., – To create a sustainable society, one must explicitly discuss how speed forms and shapes society., – The paper combines philosophical theories with everyday commercials. It draws on the work of Paul Virilio, whose theories are seldom used in studies of information ethics, and redraws attention to the need for a holistic perspective to understand the values of ICT. (shrink)