Family firm, financial constraint, and environmental preparedness: An international study

Zulfiquer Haider, Yefeng Wang and Yuan Wang

Journal of International Financial Markets, Institutions and Money, 2024, vol. 92, issue C

Abstract: Using longitudinal data from 2013-2018 and a sample of 9,622 observations from 30 countries, we find that the relationship between family involvement and environmental preparedness is mediated by financial constraints, such that family firms are more likely to be environmentally prepared due to facing lower financial constraints. Furthermore, our findings suggest that the negative relationship between family involvement and financial constraint is strengthened by the quality of public governance while the negative relationship between financial constraint and environmental preparedness is weakened by the quality of the national environmental infrastructure. Our results hold for various robustness tests.

Keywords: Family firm; Financial constraint; Environmental preparedness; Climate change (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:eee:intfin:v:92:y:2024:i:c:s1042443124000453

DOI: 10.1016/j.intfin.2024.101979

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