823
Views
0
CrossRef citations to date
0
Altmetric
ACCOUNTING, CORPORATE GOVERNANCE & BUSINESS ETHICS

CEO power, regulatory pressures, and carbon emissions: An emerging market perspective

ORCID Icon, ORCID Icon, ORCID Icon &
Article: 2276555 | Received 24 Jul 2023, Accepted 17 Oct 2023, Published online: 06 Nov 2023

References

  • Abdul Latif, R., Taufil Mohd, K. N., Kamardin, H., & Mohd Ariff, A. H. (2023). Determinants of sustainability disclosure quality among plantation companies in Malaysia. Sustainability, 15(4), 3799. https://doi.org/10.3390/su15043799
  • Abdul Majid, J., (2013). Accounting choices relating to goodwill impairment: Evidence from Malaysia. [ Unpublished PhD thesis]. University of Glasgow,
  • Abdul Majid, J. (2015). Reporting incentives, ownership concentration by the largest outside shareholder, and reported goodwill impairment losses. Journal of Contemporary Accounting & Economics, 11(3), 199–26. https://doi.org/10.1016/j.jcae.2015.07.002
  • Abdul Majid, J., Ab Rahim, N., & Razak, R. (2023). Institutional pressures, CEOs’ attributes, and strategic response towards climate change mitigation: The case of energy firms. Cogent Business & Management, 10(3), 2266166. https://doi.org/10.1080/23311975.2023.2266166
  • Adams, R. B., Almeida, H., & Ferreira, D. (2005). Powerful CEOs and their impact on corporate performance. The Review of Financial Studies, 18(4), 1403–1432. https://doi.org/10.1093/rfs/hhi030
  • Ahmad, N. N. N., & Hossain, D. M. (2015). Climate change and global warming discourses and disclosures in the corporate annual reports: A study on the Malaysian companies. Procedia-Social and Behavioral Sciences, 172, 246–253. https://doi.org/10.1016/j.sbspro.2015.01.361
  • Alatawi, I. A., Ntim, C. G., Zras, A., & Elmagrhi, M. H. (2023). CSR, financial and non-financial performance in the tourism sector: A systematic literature review and future research agenda. International Review of Financial Analysis, 89, 102734. https://doi.org/10.1016/j.irfa.2023.102734
  • Al-Qahtani, M., & Elgharbawy, A. (2020). The effect of board diversity on disclosure and management of greenhouse gas information: Evidence from the United Kingdom. Journal of Enterprise Information Management, 33(6), 1557–1579. https://doi.org/10.1108/JEIM-08-2019-0247
  • Amran, A., Ooi, S. K., Wong, C. Y., & Hashim, F. (2016). Business strategy for climate change: An ASEAN perspective. Corporate Social Responsibility and Environmental Management, 23(4), 213–227. https://doi.org/10.1002/csr.1371
  • Amran, A., Periasamy, V., & Zulkafli, A. H. (2014). Determinants of climate change disclosure by developed and emerging countries in Asia Pacific. Sustainable Development, 22(3), 188–204. https://doi.org/10.1002/sd.539
  • Bartov, E., Gul, F. A., & Tsui, J. S. (2000). Discretionary-accruals models and audit qualifications. Journal of Accounting and Economics, 30(3), 421–452. https://doi.org/10.1016/S0165-4101(01)00015-5
  • Ben‐Amar, W., & McIlkenny, P. (2015). Board effectiveness and the voluntary disclosure of climate change information. Business Strategy and the Environment, 24(8), 704–719. https://doi.org/10.1002/bse.1840
  • Ben-Amar, W., Chang, M., & McIlkenny, P. (2017). Board gender diversity and corporate response to sustainability initiatives: Evidence from the carbon disclosure project. Journal of Business Ethics, 142(2), 369–383. https://doi.org/10.1007/s10551-015-2759-1
  • Block, J., & Wagner, M. (2014). Ownership versus management effects on corporate social responsibility concerns in large family and founder firms. Journal of Family Business Strategy, 5(4), 339–346. https://doi.org/10.1016/j.jfbs.2014.08.005
  • Borghei, Z. (2021). Carbon disclosure: A systematic literature review. Accounting & Finance, 61(4), 5255–5280. https://doi.org/10.1111/acfi.12757
  • Borie, S., & Decq, J. (2019). Review of voluntary and regulatory carbon reporting by companies around the world. https://www.carbone4.com/files/wp-content/uploads/2016/09/CARBONE4-carbon-reporting-by-companies-around-the-world-EN.pdf
  • Breuer, W., Hass, M., & Rosenbach, D. J. (2022). The impact of CEO power and institutional discretion on CSR investment. Review of Financial Economics, 40(1), 20–43. https://doi.org/10.1002/rfe.1131
  • Brookman, J., & Thistle, P. D. (2009). CEO tenure, the risk of termination and firm value. Journal of Corporate Finance, 15(3), 331–344. https://doi.org/10.1016/j.jcorpfin.2009.01.002
  • Brown, R., & Sarma, N. (2007). CEO overconfidence, CEO dominance and corporate acquisitions. Journal of Economics and Business, 59(5), 358–379. https://doi.org/10.1016/j.jeconbus.2007.04.002
  • Bursa Malaysia. ( Undated). Listing statistics. https://www.bursamalaysia.com/listing/listing_resources/ipo/listing_statistic
  • Bursa Malaysia. (2015). Sustainability reporting guide. https://www.bursamalaysia.com/sites/5bb54be15f36ca0af339077a/content_entry5ce3b5005b711a1764454c1a/5ce3c83239fba2627b286508/files/bursa_malaysia_sustainability_reporting_guide-final.pdf?1570701456
  • Chithambo, L., Tingbani, I., Agyapong, G. A., Gyapong, E., & Damoah, I. S. (2020). Corporate voluntary greenhouse gas reporting: Stakeholder pressure and the mediating role of the chief executive officer. Business Strategy and the Environment, 29(4), 1666–1683. https://doi.org/10.1002/bse.2460
  • Claessens, S., Djankov, S., & Lang, L. H. (2000). The separation of ownership and control in East Asian corporations. Journal of Financial Economics, 58(1–2), 81–112. https://doi.org/10.1016/S0304-405X(00)00067-2
  • Comyns, B. (2016). Determinants of GHG reporting: An analysis of global oil and gas companies. Journal of Business Ethics, 136(2), 349–369. https://doi.org/10.1007/s10551-014-2517-9
  • Daddi, T., Bleischwitz, R., Todaro, N. M., Gusmerotti, N. M., & De Giacomo, M. R. (2020). The influence of institutional pressures on climate mitigation and adaptation strategies. Journal of Cleaner Production, 244, 118879. https://doi.org/10.1016/j.jclepro.2019.118879
  • Daily, C. M., & Johnson, J. L. (1997). Sources of CEO power and firm financial performance: A longitudinal assessment. Journal of Management, 23(2), 97–117. https://doi.org/10.1177/014920639702300201
  • Damert, M., & Baumgartner, R. J. (2018). Intra‐sectoral differences in climate change strategies: Evidence from the global automotive industry. Business Strategy and the Environment, 27(3), 265–281. https://doi.org/10.1002/bse.1968
  • Deb, P., & Wiklund, J. (2017). The effects of CEO founder status and stock ownership on entrepreneurial orientation in small firms. Journal of Small Business Management, 55(1), 32–55. https://doi.org/10.1111/jsbm.12231
  • De Villiers, C., Naiker, V., & Van Staden, C. J. (2011). The effect of board characteristics on firm environmental performance. Journal of Management, 37(6), 1636–1663. https://doi.org/10.1177/0149206311411506
  • Dhanda, K. K., & Malik, M. (2020). Carbon management strategy and carbon disclosures: An exploratory study. Business and Society Review, 125(2), 225–239. https://doi.org/10.1111/basr.12207
  • Dunn, P. (2004). The impact of insider power on fraudulent financial reporting. Journal of Management, 30(3), 397–412. https://doi.org/10.1016/j.jm.2003.02.004
  • Eisenhardt, K. M. (1988). Agency- and institutional - theory explanations: The case of retail sales compensation. Academy of Management Journal, 31(3), 488–511.
  • Eisenhardt, K. M. (1989). Agency theory: An assessment and review. The Academy of Management Review, 14(1), 57–74. https://doi.org/10.2307/258191
  • Elmghaamez, I. K., Nwachukwu, J., & Ntim, C. G. (2023). ESG disclosure and financial performance of multinational enterprises: The moderating effect of board standing committees. International Journal of Finance & Economics. https://doi.org/10.1002/ijfe.2846
  • Elsayih, J., Tang, Q., & Lan, Y. C. (2018). Corporate governance and carbon transparency: Australian experience. Accounting Research Journal, 31(3), 405–422. https://doi.org/10.1108/ARJ-12-2015-0153
  • Elyasiani, E., & Zhang, L. (2015). CEO entrenchment and corporate liquidity management. Journal of Banking & Finance, 54, 115–128. https://doi.org/10.1016/j.jbankfin.2015.01.014
  • Fahlenbrach, R. (2009). Founder-CEOs, investment decisions, and stock market performance. Journal of Financial and Quantitative Analysis, 44(2), 439–466. https://doi.org/10.1017/S0022109009090139
  • Faller, C. M., & Zu Knyphausen-Aufseß, D. (2018). Does equity ownership matter for corporate social responsibility? A literature review of theories and recent empirical findings. Journal of Business Ethics, 150(1), 15–40. https://doi.org/10.1007/s10551-016-3122-x
  • Fan, H., Tang, Q., & Pan, L. (2021). An international study of carbon information asymmetry and independent carbon assurance. The British Accounting Review, 53(1), 100971. https://doi.org/10.1016/j.bar.2020.100971
  • Fernando, Y., Rozuar, N. H. M., & Mergeresa, F. (2021). The blockchain-enabled technology and carbon performance: Insights from early adopters. Technology in Society, 64, 101507. https://doi.org/10.1016/j.techsoc.2020.101507
  • Finkelstein, S. (1992). Power in top management teams: Dimensions, measurement, and validation. Academy of Management Journal, 35(3), 505–538. https://doi.org/10.2307/256485
  • Florackis, C., & Ozkan, A. (2009). The impact of managerial entrenchment on agency costs: An empirical investigation using UK panel data. European Financial Management, 15(3), 497–528. https://doi.org/10.1111/j.1468-036X.2007.00418.x
  • Gedajlovic, E., Lubatkin, M. H., & Schulze, W. S. (2004). Crossing the threshold from founder management to professional management: A governance perspective. Journal of Management Studies, 41(5), 899–912. https://doi.org/10.1111/j.1467-6486.2004.00459.x
  • Giannarakis, G., Konteos, G., Sariannidis, N., & Chaitidis, G. (2017). The relation between voluntary carbon disclosure and environmental performance: The case of S&P 500. International Journal of Law and Management, 59(6), 784–803. https://doi.org/10.1108/IJLMA-05-2016-0049
  • Greve, H. R., & Mitsuhashi, H. (2007). Power and glory: Concentrated power in top management teams. Organization Studies, 28(8), 1197–1221. https://doi.org/10.1177/0170840607075674
  • Gujarati, D. N. (2003). Panel data regression models. In Basic econometrics (4th ed., pp. 636–655). McGraw-Hill companies, Inc.
  • Guo, C., & Pan, W. (2022). Research on voluntary carbon information disclosure mechanism of enterprises from the perspective of stakeholders—A case study on the automobile manufacturing industry. International Journal of Environmental Research and Public Health, 19(24), 17053. https://doi.org/10.3390/ijerph192417053
  • Gupta, V. K., Han, S., Nanda, V., & Silveri, S. (2018). When crisis knocks, call a powerful CEO (or not): Investigating the contingent link between CEO power and firm performance during industry turmoil. Group & Organization Management, 43(6), 971–998. https://doi.org/10.1177/1059601116671603
  • Hahn, R., Reimsbach, D., & Schiemann, F. (2015). Organizations, climate change, and transparency: Reviewing the literature on carbon disclosure. Organization & Environment, 28(1), 80–102. https://doi.org/10.1177/1086026615575542
  • Haleblian, J., & Finkelstein, S. (1993). Top management team size, CEO dominance, and firm performance: The moderating roles of environmental turbulence and discretion. Academy of Management Journal, 36(4), 844–863. https://doi.org/10.2307/256761
  • Han, S., Nanda, V. K., & Silveri, S. (2016). CEO power and firm performance under pressure. Financial Management, 45(2), 369–400. https://doi.org/10.1111/fima.12127
  • Haque, F. (2017). The effects of board characteristics and sustainable compensation policy on carbon performance of UK firms. The British Accounting Review, 49(3), 347–364. https://doi.org/10.1016/j.bar.2017.01.001
  • Haque, F., & Ntim, C. G. (2022). Do corporate sustainability initiatives improve corporate carbon performance? Evidence from European firms. Business Strategy and the Environment, 31(7), 3318–3334. https://doi.org/10.1002/bse.3078
  • Heckman, J. J. (1979). Sample selection bias as a specification error. Econometrica, 47, 153–161.
  • He, R., Luo, L., Shamsuddin, A., & Tang, Q. (2022). Corporate carbon accounting: A literature review of carbon accounting research from the kyoto protocol to the Paris agreement. Accounting & Finance, 62(1), 261–298. https://doi.org/10.1111/acfi.12789
  • Herold, D. M., Farr‐Wharton, B., Lee, K. H., & Groschopf, W. (2019). The interaction between institutional and stakeholder pressures: Advancing a framework for categorising carbon disclosure strategies. Business Strategy & Development, 2(2), 77–90. https://doi.org/10.1002/bsd2.44
  • Hossain, M., Al Farooque, O., Momin, M. A., & Almotairy, O. (2017). Women in the boardroom and their impact on climate change related disclosure. Social Responsibility Journal, 13(4), 828–855. https://doi.org/10.1108/SRJ-11-2016-0208
  • Hossain, A., Saadi, S., & Amin, A. S. (2023). Does CEO risk-aversion affect carbon emission? Journal of Business Ethics, 182(4), 1171–1198. https://doi.org/10.1007/s10551-021-05031-8
  • Houqe, M. N., & Khan, H. Z. (2022). What determines the quality of carbon reporting? A system‐oriented theories and corporate governance perspective. Business Strategy and the Environment, 32(6), 3197–3216. https://doi.org/10.1002/bse.3295
  • Jaggi, B., Allini, A., Macchioni, R., & Zagaria, C. (2018). The factors motivating voluntary disclosure of carbon information: Evidence based on Italian listed companies. Organization & Environment, 31(2), 178–202. https://doi.org/10.1177/1086026617705282
  • Jensen, M. C., & Meckling, W. H. (1976). Theory of the firm: Managerial behaviour, agency costs and ownership structure. Journal of Financial Economics, 3, 305–360.
  • Karn, I., Mendiratta, E., Fehre, K., & Oehmichen, J. (2022). The effect of corporate governance on corporate environmental sustainability: A multilevel review and research agenda. Business Strategy and the Environment, 32(6), 1–36. https://doi.org/10.1002/bse.3279
  • Khalid, F., Ye, Z., Voinea, C. L., & Naveed, K. (2022). Carbon disclosure project: Chinese chief executive officer background and corporate voluntary climate change reporting. Carbon Management, 13(1), 321–336. https://doi.org/10.1080/17583004.2022.2083983
  • Khan, M. F., Hamid, A. H., Ab Rahim, H., Maulud, K. N. A., Latif, M. T., Nadzir, M. S. M., Sahani, M., Qin, K., Kumar, P., Varkkey, H., Faruque, M. R. I., Guan, N. C., Ahmadi, S. P., & Yusoff, S. (2020). El Niño driven haze over the southern Malaysian peninsula and Borneo. Science of the Total Environment, 730, 139091. https://doi.org/10.1016/j.scitotenv.2020.139091
  • Khong, J. S., Hooy, C. W., & Lye, C. T. (2021). Board independence and private information-based trading: Evidence from Malaysia. International Journal of Managerial Finance, 18(3), 466–487. https://doi.org/10.1108/IJMF-09-2020-0469
  • Kim, S. I., & Kim, Y. (2023). Analysis of the relationship between investment inefficiency and climate risk and the moderating effects of managerial ownership. Environment Development and Sustainability, 25(9), 9337–9358.
  • Kim, E. H., & Lu, Y. (2011). CEO ownership, external governance, and risk-taking. Journal of Financial Economics, 102(2), 272–292. https://doi.org/10.1016/j.jfineco.2011.07.002
  • Lee, S. Y. (2012). Corporate carbon strategies in responding to climate change. Business Strategy and the Environment, 21(1), 33–48. https://doi.org/10.1002/bse.711
  • Lennox, C. (2005). Management ownership and audit firm size. Contemporary Accounting Research, 22(1), 205–227. https://doi.org/10.1506/K2CG-U6V0-NPTC-EQBK
  • Lewellyn, K. B., & Fainshmidt, S. (2017). Effectiveness of CEO power bundles and discretion context: Unpacking the ‘fuzziness’ of the CEO duality puzzle. Organization Studies, 38(11), 1603–1624. https://doi.org/10.1177/0170840616685364
  • Lewellyn, K. B., & Muller‐Kahle, M. I. (2012). CEO power and risk taking: Evidence from the subprime lending industry. Corporate Governance an International Review, 20(3), 289–307. https://doi.org/10.1111/j.1467-8683.2011.00903.x
  • Lewis, B. W., Walls, J. L., & Dowell, G. W. (2014). Difference in degrees: CEO characteristics and firm environmental disclosure. Strategic Management Journal, 35(5), 712–722. https://doi.org/10.1002/smj.2127
  • Liao, L., Luo, L., & Tang, Q. (2015). Gender diversity, board independence, environmental committee and greenhouse gas disclosure. The British Accounting Review, 47(4), 409–424. https://doi.org/10.1016/j.bar.2014.01.002
  • Lisic, L. L., Neal, T. L., Zhang, I. X., & Zhang, Y. (2016). CEO power, internal control quality, and audit committee effectiveness in substance versus in form. Contemporary Accounting Research, 33(3), 1199–1237. https://doi.org/10.1111/1911-3846.12177
  • Liu, Z., Abhayawansa, S., Jubb, C., & Perera, L. (2017). Regulatory impact on voluntary climate change–related reporting by Australian government‐owned corporations. Financial Accountability & Management, 33(3), 264–283. https://doi.org/10.1111/faam.12124
  • Mahmudah, H., Yustina, A. I., Dewi, C. N., & Sutopo, B. (2023). Voluntary disclosure and firm value: Evidence from Indonesia. Cogent Business & Management, 10(1), 2182625. https://doi.org/10.1080/23311975.2023.2182625
  • Mateo-Márquez, A. J., González-González, J. M., & Zamora-Ramírez, C. (2019). Countries’ regulatory context and voluntary carbon disclosures. Sustainability Accounting, Management and Policy Journal, 11(2), 383–408. https://doi.org/10.1108/SAMPJ-11-2018-0302
  • MCCG. (2017). Malaysian code on corporate governance 2017. Securities Commission. https://www.sc.com.my/api/documentms/download.ashx?id=4d1f5610-cf41-455c-9c20-21fa4c310f46
  • Mohd Ghazali, N. A. M., & Weetman, P. (2006). Perpetuating traditional influences: Voluntary disclosure in Malaysia following the economic crisis. Journal of International Accounting, Auditing & Taxation, 15(2), 226–248. https://doi.org/10.1016/j.intaccaudtax.2006.08.001
  • Morck, R., Shleifer, A., & Vishny, R. W. (1988). Management ownership and market valuation: An empirical analysis. Journal of Financial Economics, 20, 293–315. https://doi.org/10.1016/0304-405X(88)90048-7
  • Muttakin, M. B., Khan, A., & Mihret, D. G. (2018). The effect of board capital and CEO power on corporate social responsibility disclosures. Journal of Business Ethics, 150(1), 41–56. https://doi.org/10.1007/s10551-016-3105-y
  • NRE. (2015) Malaysia natural resources and Environment Malaysia. (2015). Malaysia Biennial Update Report to the UNFCC. https://unfccc.int/documents/180659
  • Ntim, C. G., & Soobaroyen, T. (2013). Corporate governance and performance in socially responsible corporations: New empirical insights from a Neo‐institutional framework. Corporate Governance an International Review, 21(5), 468–494. https://doi.org/10.1111/corg.12026
  • Ofoegbu, G. N., Odoemelam, N., Okafor, R. G., & Ntim, C. G. (2018). Corporate board characteristics and environmental disclosure quantity: Evidence from South Africa (integrated reporting) and Nigeria (traditional reporting). Cogent Business & Management, 5(1), 1551510. https://doi.org/10.1080/23311975.2018.1551510
  • Okereke, C., & Russel, D. (2010). Regulatory pressure and competitive dynamics: Carbon management strategies of UK energy-intensive companies. California Management Review, 52(4), 100–124. https://doi.org/10.1525/cmr.2010.52.4.100
  • Oliver, C. (1997). Sustainable competitive advantage: Combining institutional and resource‐based views. Strategic Management Journal, 18(9), 697–713. https://doi.org/10.1002/(SICI)1097-0266(199710)18:9<697:AID-SMJ909>3.0.CO;2-C
  • Orazalin, N. S., Ntim, C. G., & Malagila, J. K. (2023). Board sustainability committees, climate change initiatives, carbon performance, and market value. British Journal of Management. https://doi.org/10.1111/1467-8551.12715
  • Palia, D., Ravid, S. A., & Wang, C. J. (2008). Founders versus non-founders in large companies: Financial incentives and the call for regulation. Journal of Regulatory Economics, 33(1), 55–86. https://doi.org/10.1007/s11149-007-9042-z
  • Peters, G. F., & Romi, A. M. (2014). Does the voluntary adoption of corporate governance mechanisms improve environmental risk disclosures? Evidence from greenhouse gas emission accounting. Journal of Business Ethics, 125(4), 637–666. https://doi.org/10.1007/s10551-013-1886-9
  • PwC. (2017). Adopted - securities commission Malaysia - code on corporate governance. https://www.pwc.com/gx/en/about/assets/malaysia-code-on-corp-gov.pdf
  • Rahman, S., Khan, T., & Siriwardhane, P. (2019). Sustainable development carbon pricing initiative and voluntary environmental disclosures quality. Business Strategy and the Environment, 28(6), 1072–1082. https://doi.org/10.1002/bse.2302
  • Rankin, M., Windsor, C., & Wahyuni, D. (2011). An investigation of voluntary corporate greenhouse gas emissions reporting in a market governance system: Australian evidence. Accounting Auditing & Accountability Journal, 24(8), 1037–1070. https://doi.org/10.1108/09513571111184751
  • Scholtens, B., & Kleinsmann, R. (2011). Incentives for subcontractors to adopt CO2 emission reporting and reduction techniques. Energy Policy, 39(3), 1877–1883. https://doi.org/10.1016/j.enpol.2011.01.032
  • Shan, Y. G., Tang, Q., & Zhang, J. (2021). The impact of managerial ownership on carbon transparency: Australian evidence. Journal of Cleaner Production, 317, 128480. https://doi.org/10.1016/j.jclepro.2021.128480
  • Shui, X., Zhang, M., & Smart, P. (2022). Climate change disclosure and the promise of response‐ability and transparency: A synthesizing framework and future research agenda. European Management Review, 20(1), 1–14. https://doi.org/10.1111/emre.12514
  • Smith, A. C. (2016). Methodology options in greenhouse gas accounting practices at an organizational level and their implications for investors. Carbon Management, 7(3–4), 221–232. https://doi.org/10.1080/17583004.2016.1214517
  • Sulong, N. A., Latif, M. T., Khan, M. F., Amil, N., Ashfold, M. J., Wahab, M. I. A., Chan, K. M., & Sahani, M. (2017). Source apportionment and health risk assessment among specific age groups during haze and non-haze episodes in Kuala Lumpur, Malaysia. Science of the Total Environment, 601, 556–570. https://doi.org/10.1016/j.scitotenv.2017.05.153
  • Tauringana, V., & Chithambo, L. (2015). The effect of DEFRA guidance on greenhouse gas disclosure. The British Accounting Review, 47(4), 425–444. https://doi.org/10.1016/j.bar.2014.07.002
  • Thomson. (2007). Datastream definition of ROA at Thomson (2007: 443). https://www.tilburguniversity.edu/sites/default/files/download/WorldScopeDatatypeDefinitionsGuide_2.pdf
  • UNDP. (2013). National corporate GHG reporting Programme (NCGRP). https://info.undp.org/docs/pdc/Documents/MYS/NCGRP%20signed%20ProDoc.pdf
  • Velte, P., Stawinoga, M., & Lueg, R. (2020). Carbon performance and disclosure: A systematic review of governance-related determinants and financial consequences. Journal of Cleaner Production, 254, 120063. https://doi.org/10.1016/j.jclepro.2020.120063
  • Wang, G., Holmes, R. M., Jr., Oh, I. S., & Zhu, W. (2016). Do CEOs matter to firm strategic actions and firm performance? A meta‐analytic investigation based on upper echelons theory. Personnel Psychology, 69(4), 775–862. https://doi.org/10.1111/peps.12140
  • World Economic Forum. (2021). Climate change. Supercharging public-private efforts in the race to net-zero and climate resilience. https://www.weforum.org/agenda/2021/06/supercharging-public-private-efforts-in-the-race-to-net-zero-and-climate-resilience