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A framework of theoretical lenses and strategic purposes to describe relationships among firm environmental strategy, financial performance, and environmental performance

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  • Bruce Clemens
  • Lynn Bakstran

Abstract

Purpose - The purpose of this paper is to investigate whether the type of theoretical lens and strategic purpose impacts the relationships among firm environmental strategy, financial performance, and environmental performance. Design/methodology/approach - This is a theoretical paper which first investigates three constructs: firm environmental strategy, environmental performance, and economic performance. Scholars have argued for different relationships among the three constructs. The paper then discusses two theoretical lenses (strategic choice and the resource‐based view) and two strategic purposes (stakeholder and shareholder) used in the literature. The paper argues that the type of theoretical lens and strategic purpose will impact the way the three constructs (firm environmental strategy, financial performance, and environmental performance) are arranged. Findings - The paper provides a two‐by‐two matrix distinguishing between theoretical lens and strategic purpose. The paper argues that the specific choice of theoretical lens and strategic purpose helps define the way firm environmental strategy, financial performance, and environmental performance are arranged. Originality/value - As different scholars have argued for different relationships among the three constructs, this paper provides a framework that could help justify the seemingly paradoxical relationships. The paper concludes with ideas for future research on these issues.

Suggested Citation

  • Bruce Clemens & Lynn Bakstran, 2010. "A framework of theoretical lenses and strategic purposes to describe relationships among firm environmental strategy, financial performance, and environmental performance," Management Research Review, Emerald Group Publishing Limited, vol. 33(4), pages 393-405, March.
    • Handle: RePEc:eme:mrrpps:v:33:y:2010:i:4:p:393-405
    DOI: 10.1108/01409171011030480
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    Citations

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    Cited by:

    1. Elena Escrig‐Olmedo & María Jesús Muñoz‐Torres & María Ángeles Fernández‐Izquierdo & Juana María Rivera‐Lirio, 2017. "Measuring Corporate Environmental Performance: A Methodology for Sustainable Development," Business Strategy and the Environment, Wiley Blackwell, vol. 26(2), pages 142-162, February.
    2. Xiu-e Zhang & Xinyu Teng, 2023. "Effects of environmental orientation on agricultural enterprises’ performance: mediation and moderation analyses," Asian Business & Management, Palgrave Macmillan, vol. 22(3), pages 955-977, July.
    3. Lucie Vnoučková & Jaroslava Hyršlová & Pavel Tomšík, 2014. "How Does Implementation of Environmental Management System Contribute to Corporate Sustainability Management," Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis, Mendel University Press, vol. 62(6), pages 1499-1508.
    4. Frederique Bardinet Evraert & Serge Evraert, 2019. "Do the ESG scores help to select the most successful companies?," Post-Print hal-03227627, HAL.
    5. Christoph Trumpp & Thomas Guenther, 2017. "Too Little or too much? Exploring U‐shaped Relationships between Corporate Environmental Performance and Corporate Financial Performance," Business Strategy and the Environment, Wiley Blackwell, vol. 26(1), pages 49-68, January.
    6. Frédérique Bardinet, 2016. "Comparaison de trois méthodologies ESG : les différences de notations des bases de données extra financières," Post-Print hal-01900607, HAL.
    7. Bai Xue & Zhuang Zhang & Pingli Li, 2020. "Corporate environmental performance, environmental management and firm risk," Business Strategy and the Environment, Wiley Blackwell, vol. 29(3), pages 1074-1096, March.
    8. C. Trumpp & J. Endrikat & C. Zopf & E. Guenther, 2015. "Definition, Conceptualization, and Measurement of Corporate Environmental Performance: A Critical Examination of a Multidimensional Construct," Journal of Business Ethics, Springer, vol. 126(2), pages 185-204, January.
    9. Komang Adi Kurniawan Saputra & Bambang Subroto & Aulia Fuad Rahman & Erwin Saraswati, 2022. "Eco-Efficiency and Energy Audit to Improve Environmental Performance: An Empirical Study of Hotels in Bali-Indonesia," International Journal of Energy Economics and Policy, Econjournals, vol. 12(6), pages 175-182, November.
    10. Claudia Poser & Edeltraud Guenther & Marc Orlitzky, 2012. "Shades of green: using computer-aided qualitative data analysis to explore different aspects of corporate environmental performance," Metrika: International Journal for Theoretical and Applied Statistics, Springer, vol. 22(4), pages 413-450, January.
    11. Amy McMillan & Timothy C. Dunne & Joshua R. Aaron & Brandon N. Cline, 2017. "Environmental Management’s Impact on Market Value: Rewards and Punishments," Corporate Reputation Review, Palgrave Macmillan, vol. 20(1), pages 105-122, February.

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