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Cross ownership and environmental corporate social responsibility with environmental cooperation

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  • Sumi Cho
  • Sang‐Ho Lee

Abstract

When the cross owners of firms commit environmental corporate social responsibility (ECSR) as a commitment device to soften competition, environmental cooperation with their managers increases ECSR commitment levels. While lower degree of cross ownership between the firms reduces more emissions by increasing environmental R&D (ER&D) and improves welfare, higher degree of cross ownership causes both owners and managers to decrease ECSR and ER&D, which distorts environment and welfare, and these results can be expanded under environmental cooperation. In a coordination game, coordination failures can increase welfare when degrees of cross ownership are high and product markets are more competitive.

Suggested Citation

  • Sumi Cho & Sang‐Ho Lee, 2024. "Cross ownership and environmental corporate social responsibility with environmental cooperation," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 45(1), pages 446-468, January.
    • Handle: RePEc:wly:mgtdec:v:45:y:2024:i:1:p:446-468
    DOI: 10.1002/mde.4006
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