The present paper attempts to advance knowledge in the understanding of the drivers of firms’ environmental proactivity. In particular, it aims to explore the relationship between different corporate ownership structures and firms’ environmental proactivity, in order to visualize if some types of shareholders (institutional ownership, state ownership and diffuse ownership) could act as a stimulating driver for firms’ proactive environmental strategies. The attention is focused on the European firms that answered to the Carbon Disclosure Project questionnaire 2012 and obtained a score. The study, performing two linear regression models, shows that firms with a higher percentage of shares held by the state present superior environmental proactivity, while greater stakes held by institutional investors or a more diffuse ownership do not seem to be related with firms’ green proactivity.
Corporate Ownership and Environmental Proactivity: A European Perspective
PROFUMO, GIORGIA;
2013-01-01
Abstract
The present paper attempts to advance knowledge in the understanding of the drivers of firms’ environmental proactivity. In particular, it aims to explore the relationship between different corporate ownership structures and firms’ environmental proactivity, in order to visualize if some types of shareholders (institutional ownership, state ownership and diffuse ownership) could act as a stimulating driver for firms’ proactive environmental strategies. The attention is focused on the European firms that answered to the Carbon Disclosure Project questionnaire 2012 and obtained a score. The study, performing two linear regression models, shows that firms with a higher percentage of shares held by the state present superior environmental proactivity, while greater stakes held by institutional investors or a more diffuse ownership do not seem to be related with firms’ green proactivity.
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