The mediating effect of sustainability strategy between sustainability committees and business performance: can persistent assessment condition this effect?

Francisco José López-Arceiz, Cristina del Río and Ana Bellostas

Sustainability Accounting, Management and Policy Journal, 2022, vol. 13, issue 3, 708-739

Abstract: Purpose - This study aims to analyse the role of persistence in the assessments carried out by sustainability agencies in the interaction between sustainability committee characteristics, sustainability strategies and performance. Design/methodology/approach - The authors accessed a sample of European sustainable multinational and transnational companies (EMNs) for the period 2008–2017 from RobecoSAM universe. Using a set of simultaneous equation models, the authors test the effect of the sustainability committee on sustainability performance considering the sustainability strategy as a mediating element. Moreover, the authors analysed if the persistent assessment of sustainability agencies conditions the previous interaction. Findings - Persistence of the sustainability assessment performed by an external agency is necessary to support the sustainability strategy and the sustainability committee, legitimating an organization in its institutional context. Practical implications - This study provides practitioners with relevant insights into the identification of the sustainability strategy followed by an EMN and the effects associated with it can be useful for social and economic agents in decision-making processes. Social implications - A persistent assessment could be a signal over time of the evolution of organizations, reinforcing the monitoring mechanisms. It is a stimulus to EMNs as they obtain both an indicator of their levels of performance and public recognition. Originality/value - The lack of similarity in the levels of sustainable performance observed among companies can be explained by the persistence, which is an omitted variable in previous studies.

Keywords: Sustainability strategy; Multinational and transnational company; Sustainability committee; Performance; Persistence (search for similar items in EconPapers)
Date: 2022
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Citations: View citations in EconPapers (2)

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Persistent link: https://EconPapers.repec.org/RePEc:eme:sampjp:sampj-06-2021-0193

DOI: 10.1108/SAMPJ-06-2021-0193

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