RT Journal Article
T1 Corporate governance and financial performance: Reframing their relationship in the context of climate change
A1 Aibar Guzmán, Beatriz
A1 Raimo, Nicola
A1 Vitolla, Filippo
A1 García Sánchez, Isabel María
K1 Business case
K1 Climate change
K1 Climate governance
K1 Corporate governance
K1 Financialperformance
K1 Institutional ownership
AB In addressing the challenges of climate change (CC), companies face the difficult task of reconciling long-term environmental goals and short-term financial interests. In this paper, we argue that that effective climate governance enables companies to balance both objectives, supporting a business case for CC action. For a sample of 832 multinationals for the period 2011–2020, the findings show that effective climate governance leads to higher corporate financial performance (FP) and this relationship is strengthen by better climate performance. Furthermore, effective climate governance is driven by the ownership of long-term institutional investors, whose positive influence is reinforced by homogeneous distribution of their ownership. We provide a broad analytical framework that considers the determinants and effects of climate governance, from which theoretical and practical implications can be derived
PB Wiley
SN 1535-3958
YR 2023
FD 2023
LK http://hdl.handle.net/10347/33002
UL http://hdl.handle.net/10347/33002
LA eng
NO Aibar-Guzmán, B., Raimo, N., Vitolla, F., & García-Sánchez, I.-M. (2023). Corporate governance and financial performance: Reframing their relationship in the context of climate change. Corporate Social Responsibility and Environmental Management, 1–17. https://doi.org/10.1002/csr.2649
NO Consellería de Cultura, Educación e Ordenación Universitaria, Xunta de Galicia. Grant Number: 2020 GPC GI2016Junta de Castilla y León y Fondo Europeo de Desarrollo Regional. Grant Number: CLU-2019-03 Unidad de Excelencia GECOS. Ministerio de Ciencia, Innovación y Universidades. Grant Number: RTI2018-093423-B-I00
DS Minerva
RD 30 abr 2026